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Sodium hypochlorite Market Expected to Reach $422.5 Million by 2030-Allied Market Research

 

Report Code : A14440

quote Increase in demand for sodium hypochlorite from industries such as chemical and water & wastewater chemical treatment is expected to drive the growth of the sodium hypochlorite market during the forecast period. Moreover, surge in demand form pharmaceutical industry is expected to create lucrative opportunity for the sodium hypochlorite market. However, unstable nature of sodium hypochlorite is expected to hinder the market growth. quote

Eswara Prasad
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According to a new published report by Allied Market Research titled, Sodium Hypochlorite Market by Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The sodium hypochlorite market was valued at $266.0 million in 2020, and is projected to reach $422.5 million by 2030, growing at a CAGR of 4.7% from 2021 to 2030.

Sodium hypochlorite exhibits a unique odor, and is a yellowish, transparent compound with the chemical formula NaOCI. It is often made in one of two ways, first, water having dissolved salts and soft water is electrolyzed to generate sodium hypochlorite solution in water; second, water containing dissolved salts and soft water is electrolyzed to produce sodium hypochlorite solution in water. The second process involves adding chlorine gas to caustic soda, resulting in a sodium hypochlorite solution containing salt and water. It is a highly reactive, volatile, pale greenish-yellow aqueous solution, which is used as a household chemical. Sodium hypochlorite is widely known as an excellent oxidizer, germicide, bleaching agent, sterilizer, and the most effective disinfecting agent.

Owing to its antimicrobial properties, sodium hypochlorite is widely used in the water treatment chemical sector. The government disinfects water on an institutional level to ensure that public parks, schools, malls, and residential units have clean drinking water. The increased demand for sodium hypochlorite is fueled by a growing population as well as improved consumer lifestyles & hygiene. To reduce pollution, manufacturers process industrial waste before discharging it into streams and rivers. Thus, rise in awareness of environmental protection is one of the primary factors propelling the growth of the sodium hypochlorite market. However, owing to large rate of chlorine evaporation, it is often a hazardous and corrosive compound. On heating, sodium hypochlorite disintegrates and when it comes into contact with certain metals, it forms poisonous gases and acids, which is hindering the sodium hypochlorite market growth.

The sodium hypochlorite market is segmented on the basis of application and region. By application, the market is classified into bleaching & cleaning, oxidizing, disinfectant, deodorizing and other. Region wise, the sodium hypochlorite market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the sodium hypochlorite market. The report covers sodium hypochlorite share for all major regions and countries.

Major players operating in the sodium hypochlorite industry include Advance chemicals, Clorox, Hawkins, ICL, Kemira, Occidental Petroleum, Odyssey Manufacturing, Olin Corporation, PCC Group, and Vynova Group.

Other players in the value chain of the sodium hypochlorite market are.

Key Findings Of The Study

  • The report outlines the current sodium hypochlorite market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • The disinfection & cleaning segment accounted for the largest share of 52%; howler, the disinfection & cleaning segment is estimated to register a CAGR of 5.0% during the forecast period.
  • Europe contributed the 53% market share in 2020, and is projected to grow at CAGR of 4.6% during the forecast period.
  • The sodium hypochlorite market size is provided in terms of revenue.

Impact Of Covid-19 On The Sodium Hypochlorite Market

  • One of the key sectors that reflected immense sales globally during COVID-19 was the sanitizer industry. The impact of the virus spread led to the direct realization of the importance of personal hygiene, which led to the consumption of hand sanitizers and other disinfectant products. Sodium hypochlorite is one of the key feedstocks consumed in formulating these hygiene and disinfectant products by companies globally.
  • The COVID-19 outbreak has severely affected several industries such as textile, paper, and medical, causing a temporary shutdown of manufacturing plants, leading to a drop in sales and disturbance in the supply–demand chain. This disruption in sales has affected the demand and consumption of products, leading to a substantial decline in market growth.
  • As a result of the consumer's adaptability and response to COVID-19 challenges, attractive consumer trends emerge. Owing to the increased concerns about cleanliness, health, and hygiene, the pandemic has resulted in rapid rise of the consumer products business. According to the Household and Commercial Goods Association (HCPA), the annual market value of home care items is over $180 billion, which includes products such as disinfectants and cleaners for commercial and household use. As people become more conscious, they use more of the aforementioned cleaning products, driving the demand for sodium hypochlorite and propelling the market forward. Moreover, increase in demand for products, including hand sanitizers during the pandemic is a factor supporting the sodium hypochlorite market growth.

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quote Sodium Hypochlorite Market by Application (Disinfection & Cleaning, Bleaching, Oxidizing, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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