Hypochlorous Acid is also known as hydrogen hypochlorite and it is a very weak acid that is highly unstable in nature and decomposes very fast. The chemical contains monovalent chlorine that functions as an oxidizing or reducing agent. Hypochlorous acid is used as a wound care agent, in cosmetics such as baby care products, to generate safe disinfectants and others. The increasing prevalence of wound diseases such as diabetic foot ulcers, pressure, and venous ulcers is expected to have a positive impact on the market growth.
The global Hypochlorous Acid market was estimated at USD 1.13 billion in the year 2020, and is expected to reach USD 1.36 billion by 2027. The market is growing with a CAGR of 2.7%, in the forecast period (2017-2027). The non-toxic nature of Hypochlorous Acid and its cost-effective property are some of the primary factors for its high demand in the water treatment industry. Additionally, Hypochlorous acid helps in reducing scars and acne inflammation due to the presence of infection-fighting compounds. Hypochlorous acid is also used in manufacturing deodorants as it is effective against a wide range of viruses and bacteria that cause body odor, and it is also compatible with multiple skin types.
The hypochlorous acid industry is spread across the entire globe. It can be produced both onsite using hypochlorous acid generators and also offsite. It has multiple synthesis methods these include the addition of mercury oxide distilled in water to chlorine gas, adding Chorine to water, and electrolysis. However, the electrolysis method is gaining preference over other methods as it is more convenient and flexible on account of highly unstable nature of Hypochlorous acid.
The Hypochlorous Acid market is also growing on account of new emerging applications and use cases. It is finding new avenues for growth in is being used in many industries which include Hospitality, Foodservice, Grocery/ Retail, Post-harvest vegetable production, Hydroponics, and Medical services. The market of Hypochlorous Acid is highly interlinked and dependant on demand from the end-user industries and prices of conventional and other competing alternatives and disinfectants. The Hypochlorous Acid industry value chain includes thousands of distributors, technology providers, manufacturers and service providers.
The key players operating in the market are:
The research report analyses the ecosystem of Hypochlorous Acid and categorizes the Hypochlorous Acid Market to forecast the revenues and analyse the trends in each of the following below-mentioned market segments.
By Form
By Product Type
By Application
By End User
By Region
In terms of market by End User, the medical segment is estimated to be the fastest-growing segment during the forecast period
On the basis of end use, the market is segmented into Water Treatment, Medical, Food & Beverages, Oil & Gas, Personal Car, Others. The medical segment of the Hypochlorous Acid market is expected to be fastest-growing segment of the Hypochlorous Acid market in the forecast period. On account of large scale usage in wound care and treatment application and increasing usage in disinfection the medical application of the Hypochlorous Acid is expected to grow at highest CAGR. The water treatment segment is expected to witness significant growth in the demand for hypochlorous acid. The increasing consumer awareness and stringent government regulations related to clean and safe water is accelerating the market growth.
Moreover, the increasing prevalence of skin problems such as cold sore, acne and scars and increasing consumer expenditure of health and well being is driving the demand for hypochlorous acid in the medical field. Additionally, hypochlorous acid has anti-inflammatory and anti-pruritic effect that helps in healing wounds which further increases its demand in the medical industry.
By Application, the Disinfection is expected to be the largest segment
In terms of application, the global Hypochlorous Acid market can be segmented as Sanitizing Agent, Disinfecting, Oxidizing Agent, Others. The disinfecting segment dominated the Hypochlorous Acid market in terms of revenue in 2019.
North America region is expected to be the largest segment in the forecast period
North America region accounted for the largest share of the Hypochlorous Acid market. Asia Pacific is also expected to be the fastest-growing market in terms of CAGR trend. The Asia Pacific region is growing on account of growth in healthcare and hospitality sectors. Asia Pacific region extensively consumes Hypochlorous Acid in water treatment. Large diabetic population of North America region is expected to drive the demand for Hypochlorous Acid in wound management areas. Major Hypochlorous Acid equipment manufacturers are eyeing opportunities in Asian Economies, on account of lower labour costs and support from the respective governments. Key Hypochlorous Acid markets in Asia- Pacific include China, Japan, India, South Korea, Thailand and Indonesia.
The report also provides in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
|
Sr. No. |
Date |
News Category |
Description |
|
1. |
December 2020 |
Agreement |
Briotech, Inc. announced an agreement with Intermodeco 2004 SRL for distribution of imported Briotech Pure Hypochlorous (HOCl) product. Pure Hypochlorous has received the Romanian EU Standard December 2020Approval for use as a surface disinfectant, hand disinfectant and virucide effective against the coronavirus. |
|
2 |
December 2020 |
Product Development |
NovaBay Pharmaceuticals, Inc. received approval from the U.S. Environmental Protection Agency (EPA) for its proprietary hypochlorous acid solution which the company claims is effective in disinfecting against SARS-CoV-2, the virus that causes COVID-19. |
|
3. |
February 2019 |
Merger withdrawal |
IXOM, an Australia-based chemical manufacturing firm withdrew the merger application for Oji’s Tasman chemical plant that includes hydrochloric acid, sodium hypochlorite and caustic soda. |
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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