Sodium Hypochlorite Market Research, 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, also known as liquid bleach, is made up of a sodium cation and a hypochlorite anion. It is a highly reactive, volatile, pale greenish-yellow aqueous solution, which is used as a household chemical for a prolonged time. Sodium hypochlorite is recognized as a highly effective bleaching agent, sterilizer, germicide, oxidant, and disinfectant. Chlorine gas and caustic soda are combined to produce sodium hypochlorite on a big scale. It is widely used as an active ingredient in water treatment and cleaning solutions due to its powerful disinfection qualities. Moreover, it acts as a chlorinating chemical that keeps swimming pools and drinking water safe, and is used as a significant component in the creation of cleaning solutions for veterinary, food processing, and odor elimination purposes. It is used as a bleaching agent in the paper & pulp and textile industries.
Owing to rapid urbanization and industrialization, particularly in the emerging nations such as China and India, the demand from the wastewater chemical treatment industry has been witnessed to increase significantly, which notably contributes toward the growth of the sodium hypochlorite market. In the coming years, the sodium hypochlorite market is likely to be boosted by exponentially expanding bleach demand from the textiles and pulp & paper industries. During the forecast period, surge in demand for sodium hypochlorite in the medical industry for disinfecting surgical instruments and hospital rooms is expected to boost the sodium hypochlorite market. Furthermore, rise in awareness about the need for regular and proper disinfection of office spaces, public restrooms, malls, and complexes is fueling demand for sodium hypochlorite, thus propelling the market growth. However, hazardous nature of sodium hypochlorite may hinder the sodium hypochlorite market expansion.
The COVID-19 pandemic had a significant impact on various industries, including medicine, paper and textiles, resulting in the shutdown of manufacturing plants, a decline in sales, and a disruption in the supply-demand chain. This sales disruption has impacted product demand and consumption, resulting in a significant drop in market growth. The consumer being adaptive and responding to the challenges of COVID-19 that results in creating attractive consumer trends. However, there has been increased in sale for sanitizer during the COVID-19 pandemic and sodium hypochlorite is one of the key feedstocks used in formulating these hygiene and disinfectant products by companies globally.
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 others. Region wise, the sodium hypochlorite market is studied across North America, Europe, Asia-Pacific, and LAMEA. The sodium hypochlorite market share is analyzed across all significant regions.
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 operating in the sodium hypochlorite market include AkzoNobel, Arkema, BASF SE, INEOS, Solvay, Sumitomo Chemical Co., Ltd., and Sunbelt Chemical Corporations.
Sodium hypochlorite market, by application
The disinfection & cleaning segment accounted for the largest share of 52%, followed by the bleaching segment. The disinfection & cleaning segment is expected to register a CAGR of 5.0% during the forecast period. This is attributed to increased demand for cleaning and disinfection activities due to COVID-19 outbreak.
Disinfection & Cleaning is projected as the most lucrative segment.
Sodium hypochlorite market, by region
Europe contributed the 53% market share in 2020, and is projected to grow at CAGR of 4.6% during the forecast period. This is attributed to established consumer base and increased awareness and importance of disinfection.
Europe holds a dominant position in 2020 and Asia-Pacific would continue to maintain the lead over the forecast period.
Key Benefits For Stakeholders
- The report provides in-depth analysis of the sodium hypochlorite market along with the current trends and future estimations.
- The sodium hypochlorite market size is provided in terms of revenue.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- The Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the sodium hypochlorite market for strategy building.
- A comprehensive market analysis covers the factors that drive and restrain the sodium hypochlorite market growth.
- The qualitative data about market dynamics, trends, and developments is provided in the report.
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 sodium hypochlorite 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.
Sodium Hypochlorite Market Report Highlights
Key Market Players
Odyssey Manufacturing, Advance Chemicals, Kemira, PCC Group, Hawkins, Olin Corporation, ICL, Occidental Petroleum Corporation, The Clorox Company, Vynova Group
The sodium hypochlorite market is anticipated to witness growth during the forecast period, driven by increased demand for sodium hypochlorite from diversified end-use industries such as water & wastewater chemical treatment and chemical manufacturing. Furthermore, in the recent COVID-19 global pandemic, sanitizer industry registered high growth, owing to the high demand for sanitizer and thus boosting the demand for sodium hypochlorite. The impact of the virus spread led to the realization of the importance of personal hygiene, which increased 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.
However, the use of chlorine-based disinfectants in domestic drinking water has led to controversy, as the process leads to formation of small quantities of harmful by-products. In addition, transport and handling safety concerns around the use of chlorine gas is hindering the sodium hypochlorite market growth.