Calcium Hypochlorite Market projected to reach US$ 6 Bn by 2026
Posted by aartimule on January 12th, 2021
The global calcium hypochlorite market was valued at around US$ 5 Bn in 2016 and is anticipated to expand at a CAGR of more than 3% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Calcium Hypochlorite – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Expansion in the global calcium hypochlorite market is driven by the rise in demand for fresh water and increase in demand for calcium hypochlorite in pulp & paper applications. The calcium hypochlorite market in Asia Pacific is anticipated to expand at a CAGR of around 4% during the forecast period. Rapid urbanization in developing economies such as China and India is estimated to propel the calcium hypochlorite market in the region.
Increase in Demand for Fresh Water and Decrease in Sources of Fresh Water Expected to Drive Calcium Hypochlorite Market
According to the World Bank, in 2016, 783 million people across the globe lacked access to safe drinking water, 2.5 billion people lacked adequate sanitization, and large percentage of hospital beds were populated by people afflicted with waterborne diseases. At the current rate, 90% of all available freshwater is projected to be consumed in the next 25 years. Consequently, desalination and water reuse is likely to become a vital source of freshwater. Currently, more than 16,000 desalination plants are operational in at least 140 countries in the world. More than 100 water reuse facilities are available across the globe. These facilities require reliable disinfection technologies, including calcium hypochlorite either in pre- or post-treatment form, to prevent biological fouling within the system or the distribution system. Thus, increase in demand for fresh water and decrease in its sources are anticipated to boost the demand for calcium hypochlorite in the near future.
Superior Cost-to-performance Ratio to Create Demand for Powder Segment
In terms of form, the calcium hypochlorite market can be segmented into powder, pellet, and granule. The powder segment is anticipated to account for the major share of the market in terms of volume in the near future owing to the cost effectiveness of the powder form with respect to other forms.
Increase in Urbanization in Developing Economies to Fuel Water Treatment Applications
In terms of application, the calcium hypochlorite market can be divided into water treatment, house cleaners & detergents, agrochemicals, pulp & paper, food & beverage, and others (including algae control in industrial cooling water systems and general industrial sanitization). The water treatment segment dominated the calcium hypochlorite market in terms of value and volume in 2017 due to the extensive usage of calcium hypochlorite in swimming pools across the globe.
Large Customer Base in Developing Countries of Asia Pacific to Create Opportunities
In terms of region, the global calcium hypochlorite market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe held prominent share of the calcium hypochlorite market, as most of the water treatment companies are well established in these regions. Asia Pacific also constitutes significant share of the market. The market in Asia Pacific is estimated to expand at a rapid pace due to the increase in demand for fresh water and decrease in sources of fresh water in the region. The market in Middle East & Africa and Latin American is expected to expand at a sluggish pace during the forecast period.
Key players operating in the calcium hypochlorite market include China Petrochemical Corporation (SINOPEC), Tosoh Corporation, Lonza Group Ltd., Nippon Soda Co., Ltd, Westlake Chemical Corporation, Sree Rayalaseema Hi-Strength Hypo Ltd., Tianjin Kaifeng Chemical Co., Ltd., and Yuzhoushi Weilite Chemical Co., Ltd. Companies are investing significantly in new facilities for the production of calcium hypochlorite. For instance, in March 2018, Tosoh Corporation established a new holding company named Tosoh China Holdings Co., Ltd. (Tosoh China) in Shanghai, China. The new company is likely to help Tosoh Corporation strengthen its position in China.
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