Selbyville, Delaware, July 07, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Chlorine Dioxide Market was estimated at $860 million in 2020 and is slated to exceed $1,380 million by 2027, registering a CAGR of 6.5% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Rising emphasis on the reusing and recycling of wastewater in the industrial sector coupled with growing demand for safe drinking water are anticipated to positively influence the chlorine dioxide market share, globally. Additionally, rapid growth in industries including oil & gas, pharmaceuticals, and chemical in countries such as the U.S., China, and India will further drive the market growth over the forecasted period.
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Medical application of chlorine dioxide is projected to grow at grow with CAGR over 6% over the forecast timeframe. High demand for disinfectants and cleaning agents in hospitals towing to the rising prevalence of diseases such as Human Immunodeficiency Virus (HIV), tuberculosis, Human Papillomavirus (HPV), and hepatitis among the people led to drive the demand for chlorine dioxide agents in hospitals.
Pulp & paper processing application is anticipated to witness over 5% gains in the predicted period owing to the rising investments of players in the pulp industry, especially in the Latin America region including Brazil, Russia, Chile, and Uruguay. These countries have plentiful wood, which helps to build a lucrative business in Latin America. The growing pulp & paper industry led to high demand for chlorine dioxide in the Latin America market.
North America chlorine dioxide market is anticipated to grow at a significant pace at over 7.0% CAGR up to 2027. The global spread of COVID-19, especially high infection & death rates in the U.S., increased the demand for disinfectants and cleaning agents, not only in the hospitals but also in homes. The disinfectants aid in fighting various infectious diseases & bacteria, boosting the demand for chlorine dioxide in several industries such as food & beverages, medical, and households over the forecast years. Additionally, stringent regulations in the U.S. pertaining to food safety is projected to boost the chlorine dioxide market growth in North America.
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Asia Pacific comprises significant share in the chlorine dioxide market and is anticipated to grow with CAGR over 8% owing to high growth in food & beverage, medical, and pharmaceutical industry in the region.
The key players in the global chlorine dioxide industry include Scotmas, Grundfos, Ecolab, Evoqua, and ProMinent, among others. Major players in the chlorine dioxide market are focusing on strategic initiatives such as expansion of product portfolio & production capacity, and mergers & acquisition to cater to rising demand of chlorine dioxide primarily from pulp & paper processing, food & beverage, medical, oil & gas, and aerospace industries.
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.
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