LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global hypochlorous acid market to grow at a CAGR of more than 1% during the period 2018-2022, according to their latest report.
This market research report segments the global hypochlorous acid market into the following products (sodium hypochlorite and calcium hypochlorite), applications (water treatment, cleansing products, disinfectants, and food and agriculture), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the growing demand for water treatment as a key factor contributing to the growth of the global hypochlorous acid market:
Growing demand for water treatment
Hypochlorous acid is used for wastewater treatment. It is used as an oxidizing and a disinfectant agent. It is preferred in the water treatment industry because of the convenience of storage, transport, and use. Apart from this, cost-effectiveness and non-toxicity to humans and animals are factors that contribute to its increased use. Furthermore, it is an effective microbicide, particularly against waterborne pathogens. Owing to these factors, there is a high demand for hypochlorous acid from the water treatment industry. This is catering to the growth of the global market.
Hypochlorous acid is mainly used as a biocide because of its anti-microbial properties and as a chlorinating agent. It assists in treating cyanide contamination of industrial water. The increasing awareness among people, growing demand for clean water, and increase in production of industrial wastewater have led to high demand for hypochlorous acid.
According to a senior analyst at Technavio for specialty chemicals, “The global water treatment market is growing substantially. Growing water scarcity, gradual drop in the amount of clean drinking water, and increase in industrial activities have led to water contamination. These are the factors driving the growth of the water treatment market.”
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Global hypochlorous acid market segmentation
Of the three major products, the sodium hypochlorite segment held the largest market share in 2017, accounting for more than 82% of the market. This segment is anticipated to witness steady growth during the forecast period.
The Americas held the largest share of the global market in 2017, accounting for approximately 44% of the market share. This was because of the presence of major vendors in the region. The US was a major contributing market in the region. This is due to the large consumption of hypochlorous acid in applications such as water treatment, cleansing products, and disinfectants.
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