Bleach Precursors Important Components Used in Laundry Detergents and Dishwashing Products: Fact.MR Report
ROCKVILLE, Md., July 8, 2024 /PRNewswire/ — According to an updated research report by Fact.MR, the global Bleach Precursor Market is estimated at US$ 341.3 million in 2024 and has been projected to expand at a CAGR of 2.3% from 2024 to 2034. The industry is anticipated to reach US$ 428.4 million by 2034-end.
Bleach precursors are ingredients used during the manufacturing process of bleach, a powerful oxidizing agent used in diverse sectors. The rise in the use of cleaning agents and disinfectants has driven the demand for bleach precursors in sectors such as textiles and water treatment plants, among others.
Growing environmental concerns are also driving a movement in the market toward eco-friendly alternatives. Over the past ten years, the market has grown steadily due to the rising demand for disinfectants with a chlorine base. Companies that have controlled the market are OxyChem and Solvay. With more than 24.2% of the market share, the laundry detergent industry is the leading end user of bleach precursors.
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Key Takeaways from the Bleach Precursor Market Study:
- The market created an absolute $ opportunity of US$ 36.7 million from 2019 to 2023.
- East Asia is estimated to hold a market share of 25.9% in 2024 and create an absolute opportunity of US$ 23.8 million from 2024 to 2034.
- The market in Latin America is projected to expand at 3% CAGR through 2034.
- Laundry detergents and dishwashing are leading end-use segments, accounting for 24.2% and 22.3% market shares, respectively, in 2024.
- Demand for environment-friendly substitutes in the water treatment and cleaning product industries is a key market driver in Europe.
- Leading market players include Lubrizol Corporation, WeylChem Wiesbaden GmbH, OxyChem, and Solvay.
“North America and East Asia will be key markets for bleach precursors, together accounting for around half of worldwide sales,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Bleach Precursor Market:
Key industry participants like DuPont, FutureFuel Corp, The Lubrizol Corporation, WeylChem Wiesbaden GmbH, Delamine B.V., Evonik Catalysts, Nease Performance Chemicals, AK ChemTek Co. Ltd., BASF OxyChem, and Solvay are driving the bleach precursor industry.
Bleach Precursor Industry News:
- In February 2020, Solvay acquired WeylChem, a prominent producer of bleach precursors, to boost its market share and production capacity.
- In response to the growing demand from the laundry detergent sector, Evonik also increased its bleach precursor production capacity by investing in a new manufacturing plant in the United States.
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Market Development:
The market for bleach precursors is projected to expand steadily due to rising consumer demand for environment-friendly substitutes. To develop new products and technologies, companies such as OxyChem and Solvay are investing in research and development.
- A new line of bleach precursors with enhanced sustainability and performance has been introduced by OxyChem.
- Solvay has created a new production method that uses renewable energy sources and lowers carbon emissions. It is expected that such inventions would stimulate industry competition and market expansion.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the global bleach precursor market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on product type (methylene chloride, methylene chloride, trichloroethylene) and end use (laundry detergents, household cleaners, dishwashing, paper & pulp, textiles), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
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