The sodium chlorate market is projected to grow at a moderate CAGR of 3.7% in terms of value through the period of forecasting between 2020 and 2030. The report suggests that the growth of the market is primarily driven by continual demand for sodium chlorate in the chemical and paper & pulp industries, where it is used as a low-cost oxidizing agent and bleaching agent, respectively. On the other hand, the outbreak of COVID-19 has brought the operations in the end-use industries to a screeching halt, leading to a downfall in demand for sodium chlorate.
“Growing trend of eco-friendly techniques in paper production processes is expected to give a boost to sodium chlorate as a bleaching agent, while the overall demand for superior-quality paper in different applications will continue to drive the market on a positive growth trajectory,” says the Fact.MR report.
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Sodium Chlorate Market – Key Takeaways
- The global sodium chlorate market is projected to bestow a revenue opportunity worth US$ 1.5 Bn between 2020 and 2030.
- Based on form, crystalline is poised to account for the majority of market share, backed by its well-defined surface area, which helps in providing better bleaching as compared to its counterpart, amorphous form.
- By application, sodium chlorate as a bleaching agent is expected to channel the majority of revenue, backed by ever-growing adoption in the paper & pulp industry.
- On the basis of end-use, the chemical and paper & pulp industries are anticipated to cumulatively account for more than 90% of the global value by the end of the forecast period.
- Asia Pacific excluding Japan is projected to dethrone Europe as the largest regional market by the end of the forecast period and will account for nearly 38% of market share by 2030.
Sodium Chlorite Market Segmentation
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By Application :
- Disinfectants
- Antimicrobial Agents
- Bleaching Agents
- Other Applications
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By End-Use :
- Water Treatment
- Paper Manufacturing
- Textile Manufacturing
- Medical
- Other End-Use
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Sodium Chlorate Market – Driving Factors
- Surging demand for wood pulp in the production of craft paper is propelling the demand for sodium chlorate which is used to manufacture chloride dioxide which, in turn, finds adoption in wood pulp bleaching.
- The growing need for different kinds of high-quality papers, such as packaging paper, tissue paper, and craft paper, among others, is expected to boost the demand for sodium chlorate in the paper industry.
- Factors such as easy availability, ease of storage, and cost-effectiveness are equally complementing adoption in several end-use sectors.
Competitive Analysis
Some of the key players operating in the sodium chlorite market are Corporation ERCO Worldwide, Dongying Shengya Chemical Co. Ltd., Kemira Oyj, Shree Chlorates, Tata Chemicals Limited, Akzo Nobel N.V., INEOS GROUP HOLDINGS, Carlit Holdings Co. Ltd., OxyChem, CHEMZEST, BioE, Otto Chemie Pvt. Ltd, and Occidental Petroleum.
Some of the recent developments in the sodium chlorite market are :
- In April 2021, The construction of a new sodium chlorite production line in Ercros’ factory in Sabiánigo was started (Huesca). With this investment, the production capacity would virtually treble from the present 6,000 tonnes per year to 11,300 tonnes per year. In the third quarter of 2022, the new factory is expected to begin operations.
- In August 2019, Occidental Petroleum Corporation, a provider of sodium chlorite, completed the US$ 55 billion acquisition of Anadarko Petroleum Corporation.
Key Companies Covered
- Corporation ERCO Worldwide
- Dongying Shengya Chemical Co. Ltd.
- Kemira Oyj
- Shree Chlorates
- Tata Chemicals Limited
- Akzo Nobel N.V
- INEOS GROUP HOLDINGS
- Carlit Holdings Co. Ltd
- OxyChem
- CHEMZEST
- BioE
- Otto Chemie Pvt. Ltd
- Occidental Petroleum
Sodium Chlorate Market – Constraints
- The high cost of production associated with crystalline is likely to hold back the growth of the market to an extent.
- Fluctuating prices of crystalline have adversely impacted the profit margins of suppliers and distributors across the world.
- The applications of sodium chlorate in amorphous form are limited to the chemical sector and cannot be extensively used in other sectors, and this is restraining the market.
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