The bleaching agents market is estimated at USD 728.6 Million in 2018 and is projected to grow at a CAGR of 5.5%, to reach USD 953.8 Million by 2023. The key players profiled in the bleaching agents market, which have a strong global presence, include BASF (US), Aditya Birla Chemicals (Grasim) (India), Evonik (Germany), Hawkins (US), Siemer Milling Company (US), Gujarat Alkalies and Chemicals (India), PeroxyChem (US), Solvay (Belgium), Supraveni Chemicals (India), Spectrum Chemicals (India), Engrain (US), and AkzoNobel (Netherlands).
The key market players adopted various growth strategies such as new product launches, expansions & investments, agreements, divestments & joint ventures, and mergers & acquisitions to cater to the increasing demand for bleaching agents. Companies have been expanding their operations in various regions across the globe to establish themselves as the leading players in the bleaching agents market.
The key players are focusing on strategic expansions in the bleaching agents market. For instance, in October 2016, Evonik expanded its hydrogen peroxide production capacity in Europe, along with investing in logistics, which enhanced the expansion of its business with smaller packaging sizes in Europe.
Solvay is one of the leading chemical producing companies and offers a wide range of products in diversified markets, globally. The company is a market leader in hydrogen peroxide. It offers products such as hydrogen peroxide, antioxidants & stabilizers, amines, calcium & magnesium derivatives, chlorine & derivatives, fluorine derivatives, peroxygen, phenols & derivatives, phosphorus derivatives, polymers, solvents sodium derivatives, silicium derivatives, and specialty chemicals.
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Evonik is one of the leading producers of high-quality hydrogen peroxide and services; it offers a wide range of innovative products to its customers, globally. It offers a wide range of peroxygen-based products and solutions such as hydrogen peroxide, peracetic acid, and HPPO (hydrogen peroxide to propylene oxide) plant technology to various industries. The company has a total capacity of more than 950,000 tons per year and is the second-largest hydrogen peroxide producer, globally.
For instance, in June 2015, Evonik and Brenntag AG (Germany), a chemical distributor, entered into an agreement to market specialized hydrogen peroxide (PERSYNT) and peracetic acid (PERACLEAN) products in many European countries in the personal & healthcare segments.
Bleaching Agents Market by Type (Azodicarbonamide, Hydrogen Peroxide, Ascorbic Acid, Acetone Peroxide, and Chlorine Dioxide), Form (Powder and Liquid), Application (Bakery Products, Flour, and Cheese), and Region - Global Forecast to 2023
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