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Sodium Chlorate Market: Easy Availability of Alternatives Remains Creating Sluggishness || Key Players: American Elements, Kemira, Arkema, Erco Worldwide, Lantai Industry
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The sodium chlorate market is projected to witness a sluggish growth, with demand likely to reach 4,000,000 tons by the end of 2018, as per a latest report by Fact.MR. Gains will be driven by steady demand from the paper and pulp industry; however, growing regulations and easy availability of alternatives continue to stymie demand.
Majority of the industries are using sodium chlorate in its crystal form due to the fact that it is not flammable. Manufacturers in the sodium chlorate market also supply sodium chlorate mostly in the crystalline form with proper packaging in order to avoid excessive heat that may release oxygen gas, resulting in fire and explosions. Packaging materials such as special sacks, drum, and hopper truck are used to pack and deliver sodium chlorate crystals.
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Paper and Pulp Industry to Account for Largest Share in the Sodium Chlorate Market
In spite of the mounting environmental concerns, paper and pulp industry continues to generate substantial demand for sodium chlorate owing to its easy availability and low-cost. .
Demand for sodium chlorate is especially pronounced in the US, Japan, and China as these have remained traditional hubs for paper and pulp manufacturing.
Market Structure
The sodium chlorate market has been segmented into application, form, end-use industry, and region. These key segments are further bifurcated into the sub-segments providing better insights of the sodium chlorate market.
Based on the form, the market is segmented into amorphous and crystalline. In terms of the application, the sub-segments include bleaching agent, oxidizing agent, herbicide, and other applications. By end-use industry, market is further segmented into chemical industry, paper and pulp industry, mining industry, and other end-use industries.
The growth in the overall sodium chlorate market is likely to remain steady. The sodium chlorate market is expected to expand at 3.5% CAGR in value terms during 2018-2027.
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