Bleaching Agent Market worth US$ 1283.0 Million 2029 with a CAGR of 5.3 %

Bleaching Agent Market is projected to grow from US$ 805.3 million in 2020 to US$ 1283.0 million by 2029. The global bleaching agent market is expected to register low growth over the forecast period. This is attributed to growing adoption of bleaching agents in textile industry across the globe. In addition, rising demand for bleaching agents from various sectors such as healthcare and pulp and paper for end-use applications is expected to boost growth of the global bleaching agent market in the near future. Furthermore, increasing adoption of bleaching agents such as hydrogen peroxide and sodium perborate in food industry to degrade food color is fuelling growth of the global bleaching agent market. Increasing use of use of kydia calycina fibre extracts in order to produce eco-friendly bleaching agent for whitening purpose is expected to create lucrative opportunities for players operating in the global bleaching agent market.

The report "Global Bleaching Agent Market, By Product Type (Chlorine Based, Peroxide Based, and Others), By Application (Pulp and Paper, Textile, Construction, Electrical and Electronics, Homecare, Healthcare, and Other), and Region - Global Forecast to 2029"

Key Highlights:

• In February 2018, for instance, Clariant AG had pioneering multifunctional bleaching agent for ecolabel certified paints, Genamin.

Key Market Insights from the report:          

The global bleaching agent market accounted for US$ 805.3 million in 2020 and is projected to register a moderate CAGR of 5.3% over the forecast period. The market report has been segmented on the basis of product type, application, and region.

• By product type, the chlorine based segment accounted for major revenue share in 2018, owing to its used on a large scale to produce calcium and sodium hypochlorite which are major chemical used as a disinfectant in wastewater treatment plants.
• By application, the healthcare segment is accounted for major revenue share in 2018 due to high demand for bleaching agents for disinfectant in the healthcare industry.
• By region, Asia Pacific bleaching agent market accounted for major revenue share of the global bleaching agent market and is further anticipated to maintain its dominance over the forecast period. This is owing to the growth in various industries including household cleaner manufacturers, pulp and paper industry, textile, etc. in the countries in the regions. Growing adoption of bleaching agents in the water treatment plant, especially in countries such as India and China is major factor expected to support growth of the Asia Pacific bleaching agent market over the forecast period. The market in North America is expected to account for second-highest revenue share in 2019.

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The prominent player operating in the global bleaching agent market includes Akzo Nobel N.V., Clariant AG, BASF SE, Colgate-Palmolive Company, I. du Pont de Nemours and Company, The Dow Chemical Company, Evonik Industries AG, Novozymes A/S, Merck & Co., Inc., and S. C. Johnson & Son, Inc.