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North America and Europe Hypochlorous Acid Market, Trends & Analysis - Forecasts To 2026 By Application (Deodorizing, Oxidizing, Bleaching, Disinfecting, Sanitizing, Others), By End Use (Water & Wastewater Treatment, Personal Care, Textile, Food & Agriculture, Cleaning & Sterilization, Laundry & Surface Cleaners, Swimming Pools, Pharmaceuticals, Others), By Region (North America, Europe); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
North America and Europe Hypochlorous Acid Market Insights
The North America and Europe hypochlorous acid market is expected to generate revenue amounting to USD 878.23 million in 2020, and is projected to reach to USD 1,111.24 million by 2026, growing at a CAGR of 4.00% over the forecast period. Rising demand for sodium and calcium hypochlorite from application industries is one of the major factor driving the market growth for hypochlorous acid. Increasing prevalence of wound disease such as diabetic foot ulcers, pressure and venous ulcers are driving the market growth.
Hypochlorous acid helps in faster healing of cell line mitigation in comparison with other wound healing products such as iodine. Increasing consumer awareness regarding the importance of clean water along with stringent government regulations to safeguard the supply of water is driving the demand for hypochlorous acid. Hypochlorous acid has excellent biocidal properties and low toxicity levels compared to other disinfectant chemicals. Rise in demand for disinfectants and sanitizers, owing to the current COVID-19 pandemic across various regions including North America, and Europe is further projected to propel the market growth of hypochlorous acid.
Growing demand from various industries such as water & wastewater treatment, personal care, textile, food & agriculture, and cleaning & sterilization among others is driving the market growth for hydpochlorous acid. However, availability of alternative products is likely to hamper the market growth over the coming years.
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North America and Europe Hypochlorous Acid Market Size: By Segmentation
The North America and Europe hypochlorous acid market is segmented on the basis of application into deodorizing, oxidizing, bleaching, disinfecting, and sanitizing among others. The oxidizing segment is expected to hold the largest market share in the hypochlorous acid market during the forecast period. Oxidized agents are consumed in different applications such as color change or retention, materials or water, disinfecting textiles, effluent control, stain removal, and deodorizing substrates among others. Growth in paper and pulp and chemical industries is anticipated to drive the demand for oxidizing agents. The sanitizing and disinfecting segment is expected to grow at a high CAGR during the forecast period. Growing demand for sainting activities across the North America & Europe due to covid19 pandemic is one of the major factors driving the market growth. Expansion of the disinfectant industry in North America and Europe is likely to drive the demand for hypochlorous acid.
On the basis of end users, the North America and Europe hypochlorous acid market is segmented into water & wastewater treatment, personal care, textile, food & agriculture, cleaning & sterilization, laundry & surface cleaners, swimming pools, and pharmaceuticals. The water & wastewater treatment segment is expected to hold the largest market share during the forecast period. Increasing consumer importance regarding clean water along with stringent government regulations regarding supply of clean water in North America and Europe is one of the major factors expected to propel the market growth for water & waste water treatment segment. Hypochlorous acid possesses stable disinfectant properties and is added to public water supplies to treat disease causing pathogens such as protozoans, bacteria, and viruses.
North America and Europe Hypochlorous Acid Market Size: By Region
On the basis of region, the market of North America and Europe Hypochlorous Acid is segmented into North America, and Europe. The North America region is expected to dominate the market and also estimated to expand at a rapid pace during the forecast. Increase in demand for potable water is fueling the demand for hypochlorous acid in North America region. Increase in awareness about the harmful effects of synthetic fertilizers and benefits of sustainable farming processes is also a key factor driving the hypochlorous acid market in North America region.
Company Market Share Analysis & Competitor Analysis:
Some of the key players operating in the North America and Europe Hypochlorous Acid Market include: Briotech Inc., Aqualution Systems Ltd, MyOxyMist, iHr Produktions- und Vertriebs GmbH & Co. KG, NovaBay Pharmaceuticals, Inc., Fujairah chemical, Ultrapure HOCL (Pty) Ltd., ACURO ORGANICS LIMITED, Vizag Chemicals Private Limited, and Ennore India Chemicals.
Please note: This is not an exhaustive list of companies profiled in the report.
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The North America and Europe Hypochlorous Acid Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the North America and Europe Hypochlorous Acid Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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