Hypochlorous Acid Market in North America and Europe: Introduction
In terms of value, the hypochlorous acid market in North America and Europe is anticipated to expand at a CAGR of 4% from 2020 to 2030. The rise in demand for disinfectants and sanitizers, owing to the current COVID-19 pandemic, is expected to drive the hypochlorous acid market in North America and Europe during the forecast period. Increase in the number of water & wastewater treatment plants around the globe, owing to the rise in demand for clean and safe water for domestic as well as industrial usage, is boosting the demand for hypochlorous acid in water & wastewater treatment plants. The growth in awareness about healthy lifestyle and diet is fueling the trend of healthy eating. The natural anti-microbial and anti-bacterial properties of hypochlorous are also boosting the preference for foods containing hypochlorous acid. Surge in awareness about hypochlorous acid is projected to fuel the demand for hypochlorous acid as food additive in food products in the general food industry.
Increase in Usage of Home Electrolysis Systems to Hamper Market
Hypochlorous acid is unstable against ultraviolet (UV) light, sunshine, contact with air, and elevated temperature (?25?). This restricts the usage of hypochlorous acid in various applications, thereby hampering the hypochlorous acid market. The rise in usage of home electrolysis systems/machines to produce hypochlorous acid is estimated to hamper the hypochlorous acid in Europe and North America in the near future.
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Disinfecting Application to Offer Lucrative Opportunities
In terms of application, the hypochlorous acid market in North America and Europe has been divided into deodorizing, oxidizing, bleaching, disinfecting, sanitizing, and others. In terms of value, the oxidizing segment dominated the hypochlorous acid market in these regions in 2019. The disinfecting segment is expected to be highly lucrative from 2024 to 2030. Its share is projected to rise by 2030 due to the increase in demand for disinfectants in various industries due to infectious diseases such as COVID-19. Hypochlorous acid is one of the highly effective disinfectants in the chlorine family.
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Water & Wastewater Treatment to Dominate Hypochlorous Acid Market
In terms of end use, the hypochlorous acid market in North America and Europe has been categorized into water & wastewater treatment, personal care, textile, food & agriculture, cleaning & sterilization, laundry & surface cleaners, swimming pools, pharmaceuticals, and others. In terms of value and volume, the water & wastewater treatment segment constituted a significant share of the hypochlorous acid market in North America and Europe in 2019. The rise in consumer awareness about the importance of clean water as well as enactment of stringent regulations on the supply of potable water by governments are anticipated to boost the consumption of hypochlorous acid in the near future.
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North America to be Lucrative Region for Hypochlorous Acid Market
Based on region, the hypochlorous acid market has been bifurcated into North America and Europe. The hypochlorous acid market in North America is projected to expand at a CAGR of 4% during the forecast period. The U.S. accounted for a major share of the market in North America in 2019. In terms of demand, the hypochlorous acid market in Canada is projected to expand at a moderate pace during the forecast period. Increase in demand for disinfectants and sanitizers, owing to the current COVID-19 pandemic, is estimated to drive the hypochlorous acid market in North America during the forecast period. The implementation of stringent regulations related to the usage of disinfectant and sanitizers is also driving the hypochlorous acid market in North America and Europe.
Competition Landscape
The hypochlorous acid market in North America and Europe was moderately consolidated with the presence of small and medium scale manufacturers in 2019. North America has been a lucrative region of the hypochlorous acid market since the past few years. Briotech Inc. and NovaBay Pharmaceuticals, Inc. are some of the key players operating in the hypochlorous acid market in the region. Leading players have taken initiatives to expand their presence through acquisitions, increase of production capacity, and strategic partnerships.
Key manufacturers operating in the hypochlorous acid market in North America and Europe are ACURO ORGANICS LIMITED, NovaBay Pharmaceuticals, Inc., Aqualution Systems Ltd., Fujairah Chemical, Ultrapure HOCL (Pty) Ltd, Briotech Inc., MyOxyMist, iHr Produktions- und Vertriebs GmbH & Co. KG, Ennore India Chemicals, and Vizag Chemicals Private Limited.
