Global Calcium Hypochlorite Market 2019-2023 | Recovery of Oil and Gas Industry to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2019--
The global calcium hypochlorite market is expected to post a CAGR of nearly 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global calcium hypochlorite market 2019-2023. (Graphic: Business Wire)
The decline in the number of freshwater resources is compelling regulatory bodies across the world to enforce stricter policies pertaining to water consumption and discharge of wastewater. This is forcing industries to adopt water and wastewater recycling solutions to reduce their impact on the environment. In addition, factors such as the rising population, industrial development, and rapid urbanization have further increased the need for wastewater recycling. Calcium hypochlorite is the key material used in wastewater treatment processes to remove undesirable compounds and microbial contaminants in water. With rising awareness about wastewater treatment and recycling, the demand for calcium hypochlorite will increase during the forecast period. This is one of the key factors driving the growth of the global calcium hypochlorite market.
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Global Calcium Hypochlorite Market: Recovery of Oil and Gas Industry
Calcium hypochlorite is non-hazardous, cost-effective, highly efficient biocide, which is also environment friendly. These features have increased its use in the oil and gas industry for the treatment of hydraulic fracturing water. With the recovery of oil and gas industry, oil and gas companies are exploring new fields to meet the growing demand for energy. Several oil and gas companies are exploring deeper and remote reservoirs with varied and harsh geographical environments. In addition, the rising focus on unconventional resources such as shale gas, coal-bed methane, and tight oil reserves are creating a strong demand for calcium hypochlorite. The rising demand for oil and gas and increasing oil and gas E&P activities are expected to boost market growth during the forecast period.
“Apart from the recovery of oil and gas industry, the growing use of calcium hypochlorite in the F&B industry and rising industrialization in emerging economies are some other major factors that will boost the market growth during the forecast period”, says a senior analyst at Technavio.
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Global Calcium Hypochlorite Market: Segmentation Analysis
This market report segments the global calcium hypochlorite market by application (water treatment, cleaners and detergents manufacturing, pulp and paper manufacturing, and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increase in the demand from the oil and gas industry.
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Five Forces Analysis
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INDUSTRY KEYWORD: OIL/GAS MANUFACTURING ENERGY CHEMICALS/PLASTICS
SOURCE: Technavio Research
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PUB: 10/11/2019 10:30 AM/DISC: 10/11/2019 10:30 AM