The global sodium hypochlorite market was valued at US$ 240 million in 2019 and is expected to exhibit a CAGR of 5.8% during the forecast period (2020-2027).
Key Trends and Analysis:
The global sodium hypochlorite market has witnessed rapid growth in terms of revenue in the past few years owing to the rising demand for water treatment solutions for potable water across the globe. Sodium hypochlorite is used as a disinfectant in various applications such as formulation of hand sanitizers, sanitization of swimming pool, household application, and drinking water treatment including sewage treatment. Moreover, it is also used as a bleaching agent in the pulp and paper, and textile industries.
Key Market Takeaways:
The global sodium hypochlorite market is expected to exhibit a CAGR of 5.8% over the forecast period (2020-2027). The rising adoption of sodium hypochlorite in various applications such as for bleaching and oxidizing in different industries such as pharmaceutical, water treatment, and chemicals is expected to fuel growth of the market over the forecast period. Moreover, growth of pharmaceutical and chemical industries across the globe, among others is also expected to boost the market growth during the forecast period.
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Key players are focusing on adopting various strategies such as mergers, acquisitions, and new product development, among others for strengthening their position in the global market. For instance, in December 2018, De Nora, an Italy-based multinational company that offers products and solutions for energy saving, sustainable water disinfection, and electro-chlorination, launched its next generation sodium hypochlorite generators named, ClorTec. This on-site sodium hypochlorite generator is designed to enhance the production rate and efficiency, ease the operation, and reduce the maintenance cost.
Sodium hypochlorite is a chemically unstable solution i.e. it is highly reactive, owing to which it is hazardous to the employees working in sodium hypochlorite production plants. Moreover, abruptions in distribution channels across the globe amidst of COVID-19 pandemic is expected to hamper growth of the global sodium hypochlorite market during the forecast period.
Amidst COVID-19 pandemic, governments across the globe have implemented stringent regulations for frequent sanitization of public spaces such as offices, residential complexes, recreational spaces, public toilets, and other outdoor areas. These areas are required to be highly disinfected using specified concentration of sodium hypochlorite-based products, as these disinfectants are essential to reduce the spread of coronavirus. This scenario is expected to drive demand for the product in disinfectant applications over the forecast period.
Leading companies involved in the production and distribution of sodium hypochlorite are focusing on strategies such as expansion of production line, owing to rapid growth in demand for sodium hypochlorite in the recent past. For instance, in February 2020, Evonik, one of the world’s leading company involved in manufacture, marketing, and distribution of specialty chemicals, acquired PeroxyChem with an aim to unlock additional growth opportunities, especially in the market for production of disinfectants. PeroxyChem is a U.S.-based company, which provides specialty chemicals for formulation of various industrial and household products. These trends are expected to further help the global sodium hypochlorite market in gaining traction during the forecast period.
Major players operating in the global sodium hypochlorite market are—
BASF Chemicals, Odyssey Manufacturing Co., Aditya Birla, AGC group, Orica Watercare, Akzo Nobel, Shanghai Polymet Commodities Ltd., Sumitomo Chemicals, Solvay Chem, Sunbelt Chemical Corporations, Arkema Group, Surpress Chem, and Ineos
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Global Sodium Hypochlorite Market, By Application:
Cleaning & Disinfection
Swimming Pool Sanitization
Pulp & Paper
Global Sodium Hypochlorite Market, By End-Use:
Global Sodium Hypochlorite Market, By Region:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200709005664/en/
Senior Client Partner – Business Development
Coherent Market Insights
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