Selbyville, Delaware, Nov. 05, 2020 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the global chlorine dioxide market size was valued at $795 million in 2019 and is slated to exceed $1.1 billion by 2026, registering a CAGR of 5.4% from 2020 to 2026. The report provides a detailed analysis of the market size & estimations, major investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
In recent years, consumers have become increasingly aware of the environmental impact of plastic waste. These trends have increased the preference for sustainable flexible paper packaging solutions. It is expected that increasing recommendations by global health authorities to maintain hygiene to curb the spread of COVID-19 will augment the demand for tissues and paper towels in the near future.
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Chlorine dioxide plays a vital role in pulp bleaching and water treatment applications at paper mills. In addition, the substance helps manufacturers to adopt eco-friendly approaches and reduce their environmental impact by minimizing the discharge of harmful dioxin in the environment.
Key reasons for chlorine dioxide market growth:
- Demand for sustainable flexible packaging solutions
- Flourishing pulp and paper industry
- Expansion of key industry verticals in Asia Pacific
2026 forecasts show the ‘pulp & paper’ application segment retaining its dominance:
The rapid expansion of the pulp and paper industry in developing nations like India, China, and Vietnam and increasing paper recycling activities is likely to boost the product demand in the future. The global chlorine dioxide market from pulp & paper processing applications is estimated to surpass US$120 million by 2026.
The Asia Pacific to continue its top status in terms of revenue:
Asia Pacific chlorine dioxide market share is projected to witness a CAGR of over 5.5% through 2026. The region has experienced a rapid expansion of numerous end-use sectors including food & beverage, oil & gas, and pharmaceuticals, which in turn has increased the need for industrial water treatment. Chlorine dioxide helps manufacturers comply with strict environmental norms regarding wastewater discharge as it prevents the formation of toxic chlorinated by-products.
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North America chlorine dioxide market will expand at a CAGR of nearly 4% through 2026. An expanding elderly population base in the region has increased healthcare expenditure, which will propel the product demand significantly. On the other hand, the demand for chlorine dioxide in Europe is likely to grow at a CAGR of more than 4.5% through 2026.
Leading market players:
The key players analyzed in the global chlorine dioxide industry report include Ecolab, Evoqua, Scotmas, Grundfos, and ProMinent, among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.