According to a new market report published by Lucintel, the future of the odor control agent market looks promising with opportunities in the water treatment, air purification, and food & beverage processing markets. The odor control agent market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $3.5 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025. The major growth drivers for this market are increasing industrialization in developing countries and increasing government regulation towards clean environment.
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In this market, activated carbon, bio-enzymes, and other chemicals are used as odor control agents in various end use industries. Lucintel forecasts that activated carbon will remain the largest material type due to increasing demand for industrial and municipal waste water treatment. The bio-enzyme segment is expected to witness the highest growth over the forecast period due to increasing awareness to improve air quality in commercial and residential communities.
Within the odor control agent market, water treatment will remain the largest application driven by the need to remove chemicals, inorganic substances, and taste and odor causing compounds from water. Lucintel predicts that the air purification application is expected to witness the highest growth over the forecast period supported by growth in the sewage air treatment, industrial gas purification, and commercial and residential air purification.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to rapid industrialization and expansion of chemical industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include use of odor eliminator technology for sports clothing and equipment, and prosweet odor control technology. Ecolab, Calgon Carbon, Cabot, Fujian Yuanli Active Carbon, Haycarb, Osaka, Novozymes, Kuraray, Ingevity, and Synthron are among the major suppliers of odor control agents.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the odor control agent market by application, material type, product form, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Odor Control Agent Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the odor control agent market by application, material type, product form, and region as follows:
By Application [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
Water Treatment
Air Purification
Food and Beverage Processing
Others
By Material Type [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
Activated Carbon
Bio-Enzymes
Other Chemicals
By Product Form [$M shipment analysis for 2019]:
Powder
Granular
Liquid
Others
By Region [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
North America
Europe
Germany
The United Kingdom
France
Russia
Asia Pacific
China
Japan
India
South Korea
The Rest of the World
This 210-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/odor-control-agent-market.aspx or helpdesk@lucintel.com.
About Lucintel
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