HypochlorousAcid Market in North America and Europe: Introduction
In terms ofvalue, the hypochlorousacid market in North America and Europe is anticipated toexpand at a CAGR of 4% from 2020 to 2030.The rise in demand for disinfectants and sanitizers, owing to the currentCOVID-19 pandemic, is expected to drive the hypochlorous acid market in NorthAmerica and Europe during the forecast period. Increase in the number of water& wastewater treatment plants around the globe, owing to the rise in demandfor clean and safe water for domestic as well as industrial usage, is boostingthe demand for hypochlorous acid in water & wastewater treatment plants.The growth in awareness about healthy lifestyle and diet is fueling the trendof healthy eating. The natural anti-microbial and anti-bacterial properties ofhypochlorous are also boosting the preference for foods containing hypochlorousacid. Surge in awareness about hypochlorous acid is projected to fuel thedemand for hypochlorous acid as food additive in food products in the generalfood industry.
Increase in Usage of HomeElectrolysis Systems to Hamper Market
Hypochlorousacid is unstable against ultraviolet (UV) light, sunshine, contact with air,and elevated temperature (?25?). This restricts the usage of hypochlorous acidin various applications, thereby hampering the hypochlorous acid market. Therise in usage of home electrolysis systems/machines to produce hypochlorousacid is estimated to hamper the hypochlorous acid in Europe and North Americain the near future.
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Disinfecting Application to OfferLucrative Opportunities
In terms ofapplication, the hypochlorous acid market in North America and Europe has beendivided into deodorizing, oxidizing, bleaching, disinfecting, sanitizing, andothers. In terms of value, the oxidizing segment dominated the hypochlorousacid market in these regions in 2019. Thedisinfecting segment is expected to be highly lucrative from 2020 to 2030. Itsshare is projected to rise by 2030 due tothe increase in demand for disinfectants in various industries due toinfectious diseases such as COVID-19. Hypochlorous acid is one of the highlyeffective disinfectants in the chlorine family.
Water & Wastewater Treatment toDominate Hypochlorous Acid Market
In terms ofend use, the hypochlorous acid market in North America and Europe has beencategorized into water & wastewater treatment, personal care, textile, food& agriculture, cleaning & sterilization, laundry & surfacecleaners, swimming pools, pharmaceuticals, and others. In terms of value andvolume, the water & wastewater treatment segment constituted a significantshare of the hypochlorous acid market in North America and Europe in 2019. Therise in consumer awareness about the importance of clean water as well asenactment of stringent regulations on the supply of potable water bygovernments are anticipated to boost the consumption of hypochlorous acid inthe near future.
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North America to be LucrativeRegion for Hypochlorous Acid Market
Based onregion, the hypochlorous acid market has been bifurcated into North America andEurope. The hypochlorous acid market in North America is projected to expand ata CAGR of 4% during the forecast period.The U.S. accounted for a major share of the market in North America in 2019. Interms of demand, the hypochlorous acid market in Canada is projected to expandat a moderate pace during the forecast period. Increase in demand fordisinfectants and sanitizers, owing to the current COVID-19 pandemic, is estimatedto drive the hypochlorous acid market in North America during the forecastperiod. The implementation of stringent regulations related to the usage ofdisinfectant and sanitizers is also driving the hypochlorous acid market inNorth America and Europe.
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Competition Landscape
Thehypochlorous acid market in North America and Europe was moderatelyconsolidated with the presence of small and medium scale manufacturers in 2019.North America has been a lucrative region of the hypochlorous acid market sincethe past few years. Briotech Inc. and NovaBay Pharmaceuticals, Inc. are some ofthe key players operating in the hypochlorous acid market in the region.Leading players have taken initiatives to expand their presence throughacquisitions, increase of production capacity, and strategic partnerships.
