Wellesley, Mass., June 20, 2017 (GLOBE NEWSWIRE) —
A new BCC Research report updating market trends for Ozone Generation: Technologies, Markets and Players indicates a growing use of ozone in municipal water systems worldwide and applications ranging from medical care to personal air purifiers. The May 2017 study predicts that the 2016 market for ozone, estimated at $841.4 million, will see a CAGR of about 7.1% from 2016-2021.
Most of the expansion will be in the air and gas industry, with sales of equipment that produces ozone, a colorless, water soluble chemical sometimes called ‘activated oxygen.’ It has a short lifespan and is expensive to store and transport. So, the industry is specialized and local to meet national regulations and applications. Additionally, the industry is diverse, with uses ranging from dishwashing systems, to wastewater treatment plans, semiconductor manufacturing clean rooms and agricultural safety. Ozone is a powerful oxidant and disinfectant and growing in popularity as costs decline in comparison to chlorine and other chemicals, the report said.
The report forecasts that medical applications of ozone could see a CAGR above 8% through 2021 – slightly higher than the industry’s average. Popular outside of the U.S., it is used for cancer therapies and treatment of blood-based infectious diseases.
- Global urban populations are growing and aging water systems are turning to ozone for both potable water purification, the industry’s largest segment
- By 2025, an estimated 1.8 billion people globally may be affected by water scarcity and climate change has the potential for even greater impact on weather, flooding and droughts.
- Asia-Pacific region is the industry’s largest market, with nearly 35% of 2016 spending.
“Ozone touches a huge set of diverse industries – from rinsing produce and meats for safety to medical disinfectant. It has impact on the water we consume and removing air pollution so the rapidly expanding cities of the world are putting it to work, reducing the use of other chemicals,” says Kevin Fitzgerald, editorial director at BCC Research. “A key benefit of ozone is how quickly it reverts to plain oxygen.”
About BCC Research
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