The chlorinating agents market is anticipated to reach USD 107.2 million by 2033, driven by growing demand from various end-use industries including wastewater treatment, food and feed, electronics, and paper industries.
According to FMI estimates, the industry is expected to be valued at USD 76.7 million in 2023 and is forecasted to grow at a CAGR of 3.4% during the assessment period from 2023 to 2033. Chlorinating agents are utilized to add chlorine atoms to other chemicals for effective cleaning at an affordable cost. The market has witnessed significant growth over the years, primarily due to the expansion of end-use industries.
Traditionally, manufacturing industries have been the main consumers of chlorinating agents for cleaning raw materials and finished products. However, the pharmaceutical industry is projected to drive market expansion in the forecast period through increased product innovation and development. Additionally, chlorinating agents find wide application in the treatment of potable water and facilities like swimming pools, further fueling market growth.
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Market Dynamics
- Advancements in Drug Chemistry:
- Sales of chlorinating agents for medical applications have surged due to advancements in drug chemistry and their role in biological activities.
- Increased spending on medical research post-pandemic creates new growth opportunities for the global market.
- Increased Medical Research Spending:
- Rising expenditure on medical research, particularly after the pandemic, contributes to market growth.
- Enhances demand for chlorinating agents in medical applications.
- End-Use Sector Demand:
- Growing demand from various end-use sectors such as pharmaceutical, water and wastewater treatment, food and feed, and paper drives market expansion.
- Diverse applications across these sectors bolster market growth prospects.
- Rapidly Increasing Demand for Food Preservatives:
- Rising demand for food preservatives expands the scope for chlorinating agent use.
- Acts as a crucial determinant favoring market growth from 2023 to 2033.
- Historic and Forecasted Growth:
- Market experienced a Compound Annual Growth Rate (CAGR) of 3.0% during the historic period of 2018 to 2022.
- Anticipated to grow at a CAGR of 3.4% during the forecast period from 2023 to 2033.
- Market Expansion Drivers:
- Factors such as technological advancements, regulatory changes, and consumer preferences contribute to market expansion.
- Growing awareness of the importance of water and food safety further propels market growth.
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Top Key Players
- BASF SE,
- DIC Corporation,
- The Dow Chemical Company,
- Heetu Chemicals and Alkalies Ltd.,
- AGC Chemicals, Nouryon,
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