Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macroeconomic factors on the global bleaching agent market. In addition, a complete analysis of changes in the global bleaching agent market expenditure, economic and international policies on the supply and demand side is also required. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The Covid-19 has changed the lives of consumers, and demand of their purchasing patterns. The market for bleaching agents is rapidly approaching pre-Covid levels, with a robust growth rate predicted over the projection period, owing to the economic recovery in most developing countries. Owing to the pandemic, numerous companies in the power industry across the world had to shut down their manufacturing facilities and services as nations practiced full or partial lockdown strategies to deal with the crisis. Businesses across the world have also delayed or suspended their main power projects. Additionally, the COVID-19 pandemic has also impacted the entire supply chain of the power industry.
One of the primary reasons driving the growth of the bleaching agents market is the rising need for water treatment throughout the world. Bleaching agent’s widespread use in sectors such as pulp and paper, textiles, and construction, among others, is fueling market expansion. The market is also influenced by the installation of strict environmental rules supporting eco-friendly goods like hydrogen peroxide, phenolic-based bleaching agents, enzymes, and others in order to reduce toxins in the ecosystem. Furthermore, the bleaching agents market benefits from increased investments, increased environmental concerns, favorable government laws, rising industrialization, and increased consumption of bread and associated bakery products. Some factors, such as the growing rate of disposable income has boosted the bleaching agent market.
The pulp and paper businesses are seeing increased demand, which presents opportunities for expansion. Chlorine based bleaching is widely utilized for wastewater treatment, particularly in bleaching drinking water and swimming pools, resulting in increased market growth potential. The presence of large-scale building businesses in China has aided market expansion. The expansion of the bleaching agents’ market has been aided by an increase in the number of people working and adopting busy lifestyles, as well as migration from rural to urban regions. The expanding demand for bread and bread related goods, the growing urban population, rising disposable income, and technical developments in wheat quality evaluation are all driving up the opportunities for bleaching agents.
The usage of some bleaching agents such as potassium bromate, chlorine, and potassium update has been restricted, limiting the size of the bleaching agent industry. The negative impact of bleaching agents on human health limits the market’s growth. A restriction on specific bleaching chemicals in certain countries as well as health concerns about bleaching agents such as skin, eye, and lung harm are projected to stymie the market. The market’s growth has been stifled by the deterioration of production facilities and the disruption of the network. The bleaching market’s increasing toxicity is impeding its expansion as government restrictions linked to product usage and reduced consumption of food goods containing chemical substances.
The main challenges faced by the bleaching agents, During the study period, less availability and a decline in the number of applications of bleaching agents became a key stumbling block to the bleaching agent market’s growth. Damage to your eyes, skin, and lungs, for example, might be a difficult aspect to overcome. The decline in consuming capacity of food products, including various chemicals as components, has emerged as the most significant impediment to growth. Lockdowns throughout the world, as well as further limitations, interrupted the supply chain, causing issues for bleaching agent manufacturers. Intense completion, pricing issues, and shifting consumer preference will continue the downward pressure on vendor’s profit margins.
The report provides an in-depth analysis of the global Bleaching Agent market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. Increasing demand for hydrogen peroxide in the food and beverage industry is expected to drive the global bleaching agent market, and advancement in technology for product evaluation is attributed to the market’s growth.
The global bleaching agent market comprises of different market segments like type, form, application, end user and geography.
The hydrogen peroxide segment is likely to dominate the market during the forecast period. It is often utilized as a peroxide agent in flour, bakery items, natural sugars, natural oils, waxes, gums, and starches in the food and beverage business. The US Food and Drugs Administration (FDA) has certified that hydrogen peroxide is generally recognized as safe (GRAS) as direct component in food items. Food goods are bleached and purified using hydrogen peroxide, which improves their color. It extends the shelf life of the items in the food sector by sterilizing aseptic packing containers.
The powder segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. Bleaching chemicals in powder form, such as ascorbic acid, hydrogen peroxide, and potassium bromates, have a longer shelf life and may be kept at room temperature for many years. Furthermore, because powdered bleaching chemicals are easier to dose than liquid bleaching agents, technical developments have led to an increase in their use. Powdered bleaching agents are offered by major businesses such as AkzoNobel N.V. (Netherlands) and Aditya Birla Chemicals (India).
The flour segment is likely to dominate the market during the forecast period because newly milled wheat contains carotenoids, it has a little yellowish tint. Bleaching compounds are used to whiten flour. Bleaching also oxidizes the flour’s surface, increasing its gluten-producing capability. Bleaching flour aids in the weakening of proteins and the faster maturation of flour, making it a necessity for flour manufacturers. Some of the most commonly used flour bleaching chemicals are hydrogen peroxide, benzoyl peroxide, and chlorine dioxide.
Among the end-users, water treatment holds the major share of the market due to increased environmental and marine concerns, Waste water treatment procedures are widely used in the industrial and residential sectors. Water scarcity, risk to aquatic life, and the spread of waterborne infections, to name a few issues. Rapid industrialization and urbanization in rising nations such as India, Malaysia, and Indonesia have resulted in increased industrial activity and an ever-increasing demand for polluted water treatment. These developments will drive product demand because of their superior disinfectant characteristics, which are frequently employed in water treatment operations.
The global bleaching agent market is studied for the following regions: North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia Pacific is likely to witness rising demand for the bleaching agent market. Due to a steady increase in hydrogen peroxide demand from pulp and paper and chemical industries in countries like India and China, the Asia Pacific bleaching agents market produced the largest revenue during the forecast period. Increased pulp and paper industry uses, such as printing digital images, social books, flex printing, and others sorts of mementos, are expected to drive up demand for paper in packing. China, India, Japan, and Australia are the leading nations with the most development potential in this industry. Through 2023, India is expected to have a considerable share of the Asia-Pacific market, because this is a developing industry, there is potential for the market to grow. Moreover, due to significant chlorine-based bleaching agent consumption, North America is projected to deliver a solid revenue share to the bleaching agent’s sector. Furthermore, in the upcoming year, increased government investments in waste water treatment facilities would drive the bleaching agent market share.
The addition of bleaching agents is widely used in the bakery industry to improve the color of the flour and to boost the baking properties of the flour. Bleaching of flour helps in the natural maturation of flour in less time, which is expected to drive the demand for the global bleaching agent market. This, in turn, encourages market players to gain competitive advantages in the global market.
Key participants in the market include bleaching agent manufacturers, suppliers, and regulatory bodies. The key players that are profiled in the report include BASF, Aditya Birla Chemicals, Evonik Industries, Hawkins. Inc, Siemer Milling Company, Gujarat Alkalies and Chemicals, PeroxyChem, Solvay, Supraveni Chemicals, Spectrum Chemicals Manufacturing Corporatio, Engrain, and AkzoNobel, among others.
June 2021: Evonik and Brenntag AG, a chemical agent distributor teams up to introduce a new tailored hydrogen peroxide.
April 2019: EP Minerals LLC, manufactures and suppliers of mineral products, US requires Bleaching Clay and Minerals Absorbents Business of BASF.
A bleaching agent refers to a chemical product that is widely utilized domestically or industrially for the purpose of whitening or removing the color from different products and materials. The product is generally in households to remove stains and whiten clothes. A bleaching agent could be available in the liquid form as a dilute solution of sodium hypochlorite. In the powdered form, the product possesses the formulation of calcium hypochlorite. Likewise, the global Bleaching Agent market comprises of different market segments like type, voltage, application, end user and geography. The types studied in the global bleaching agent market are Azodicarbonamide, Hydrogen Peroxide, Ascorbic Acid, Acetone Peroxide, Chlorine Dioxide, and others. The global bleaching agent market finds its major application in bakery products, flour, cheese, and in other forms, market is segmented into powder and liquid. Based on end users, the market is bifurcated into pulp and paper, textile, construction, electrical and electronics, water treatment, healthcare, and others. The global Bleaching Agent market is studied for the following region: North America, Europe, Asia-Pacific, and Rest of the World (RoW).
1) What are the drivers for bleaching agent market?
Ans: The key driving factors of the market are the increasing paper production in Asia Pacific and rising water treatment activities globally.
2) Which is the leading end user segment for bleaching agent market?
Ans: Water treatment activities have accounted for the major market share, and is expected to witness the highest pace of growth during the forecast period.
3) Which region is expected to gain the most market share during the forecast period (2021-2028)?
Ans: Asia Pacific is expected to gain a major market share during the forecast period (2021-2028).
