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Sodium Chlorate Market: Global Opportunity Analysis and Industry Forecast 2020–2027

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Sep 2020 | 26 Views
 
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Sodium Chlorate Market Analysis 2020-2027:

Sodium chlorate is an inorganic chemical compound produced by the electrolysis of brine. It is white/off-white in color, odorless, and highly soluble in water. It is one of the most widely used chemical. Moreover, in its pure form, it is inflammable but during its decomposition, it releases oxygen. There is increase in use of sodium chlorate for niche applications such as for the production of oxidation candles for use in aircraft and submarines. Sodium chlorate is also used for surface treatment of metals in the automotive and electronics industries, dyes, cosmetics, pharmaceuticals, and leather manufacturing. In the agriculture industry, it is widely used as an herbicide due to its oxidizing properties. Moreover, it is an eco- friendly bleaching agent. Rise in use of tissue papers, including facial wipes, baby wipes, and toilet papers on a large scale in restaurants, offices, and households further boosts the sodium chlorate market.

 

Market scope and structure analysis:

                       Report Metric

                                            Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD Million)

  Segments covered

  Type, Application, End Use Industry

  Geographies covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies covered

 

 

ERCO Worldwide, Arkema, KemiraOyj, American Elements, Nouryon, Mil-Spec Industries, B. Enterprises, Shree Chlorates, ChemTrade, Tronox, and Chemfab Alkalis Limited

 

 

COVID-19 scenario analysis:

  • The coronavirus pandemic has negatively affected different industries, for example, fireworks, mining, and chemical 
  • Fabric production is expected to decrease, owing to decline in exports and stagnation in apparel/home textile production.
  • Plant closures and logistical disruptions have disrupted packaging demand due to the suspension of operations in several industries.
  • The pandemic has directly impacted the demand for newspapers as many readers are avoiding newspapers, thereby hampering the paper & pulp industry.
  • In commercial aviation, companies are experiencing disruption in production and slowing demand due to lack of workforce, travel restrictions, and delay of new aircraft delivery. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Increase in demand for wood pulp for craft paper manufacturing and rise in demand for sodium chlorate in dye manufacturing as well as in the leather & tanning industry are the key factors that drive the sodium chlorate market. Furthermore, demand for superior-quality packaging paper, tissue paper, and craft paper has been increasing among consumers. This is expected to provide growth opportunities to the sodium chlorate market as well. Other factors, such as increase in use of sodium chlorate in explosives & mining activities and rapidly expanding agricultural industry across the globe, are expected to boost the market growth.

Moreover, the availability of substitutes, such as hydrogen peroxide and ozone, which can be used to bleach paper and pulp is expected to hamper the market growth. Mostly consumers prefer a low level of paper whiteness as the processing process contains huge quantities of bleach and processed paper is costly compared to normal paper. This is expected to hamper the growth of the sodium chlorate market. In addition, there are stringent government regulations for the use of sodium chlorate, owing to its harmful effects on the environment and health.

New product launches to boost the market:

Bayer CropScience announced new Luxxur herbicide molecule, which is capable of controlling resistant grasses. It would give a different post-emergence mode of action, which means it would kill weeds once they are growing and above the ground. Luxxur herbicide is formulated with a precise combination of active ingredients optimized to control many grass and broadleaf weeds in spring, winter, and durum wheat fields.

Surge in usage of sodium chlorate in industrial applications:

By region, the global sodium chlorate market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to represent the highest growth with China and India being the key sources of growth. Rapid industrialization is the major reason for the growth of the market in Asia-Pacific countries. Paper & pulp and mining industries in the Asia-Pacific region are estimated to expand significantly. China leads the market in Asia-Pacific due to increase in demand from the paper & pulp industry in the country. Along with paper and pulp, sodium chlorate is also used in fireworks to create color in fireworks by the use of metal salts. It is also widely used as a chemical intermediate in potassium chlorate, which is an active ingredient in the manufacturing of explosives. Other significant applications of sodium chlorate are pharmaceutical, vanadium mining, metal treatment, and herbicide. However, the demand in the automotive sector is growing significantly in developed countries due to advanced technologies and improved engine designs, which is expected to create growth opportunities for the market.

Key segments covered:

              Segments

                                  Sub-segments

  Type

  • Crystalline
  • Solution

  Application

  • Bleaching Agent
  • Oxidizing Agent
  • Herbicide
  • Water Treatment
  • Others

 

  End Use Industry

  • Paper and Pulp Industry
  • Mining
  • Automotive
  • Aerospace and Marine
  • Chemical
  • Electronics
  • Textile & Leather
  • Others

 


Key benefits of the report:

  • This study presents the analytical depiction of the sodium chlorate market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the sodium chlorate market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the sodium chlorate market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the sodium chlorate market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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