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Sodium Chlorate Market 2022 Business Trends, Global Segments, Industry Profit Growth and Regional Study by Forecast to 2030

01-06-2022 01:19 PM CET | Science & Education

Press release from: MarketResearchFuture

Sodium Chlorate Market 2022 Business Trends, Global Segments,

According to the MRFR analysis, the Sodium Chlorate Market was valued at more than USD 2.1 Billion in 2022 and is expected to reach over USD 2.8 Billion by the end of 2030 at a CAGR of 4.6%.
Sodium chlorate is an industrial salt produced from table salt and water in reaction with electricity. Sodium chlorate is largely used in the pulp and paper industry to produce chlorine dioxide, which is an environmentally friendly bleaching agent used to manufacture white paper products. It is also used for the synthesis of potassium chlorates, which are extensively used in explosives. In addition, it acts as a chemical intermediate in processing perchlorates and chlorite, an oxidizing mineral compounds, and in the metal finishing sector.

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Trade and Regulatory Analysis
The top five importers of the sodium chlorate, as of 2018, were the US, Japan, Sweden, Russia, and Portugal, whereas the major exporters were China, the US, Canada, Italy, and Spain. The market witnessed a supply-demand gap in the past and trade flow can be seen disrupted as it is a hazardous material.
Some of the international associations, e.g., the US Environmental Protection Agency and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), have banned products (herbicides) containing chlorate in the agricultural industry. This has fetched some significant regulations for its use in agricultural and commercial sites, for instance, in 2010, the REACH had set the permissible residue limit of 0.01 mg/kg sodium chlorate in food products. In addition, around 2.8 million pounds of sodium chlorate is used in the residential and commercial sectors annually in the US.

According to the World Health Organization (WHO), the drinking water standard for chlorate is set for 0.03 mg/kg/day.
By Grade
• Crystalline: The crystalline grade segment held the largest share of over 70% in 2018. This is primarily attributed to the extensive demand for crystalline sodium chlorate in the production of chlorine dioxide. Additionally, its use in uranium mining due to increasing focus on the development of nuclear weapons and submarines is projected to boost the demand for crystalline form of sodium chlorate. Moreover, the increasing expenditure in the defense industry in emerging economies such as India, China, South Korea, and Brazil is expected to increase uranium mining activities and consequently favor the growth of the segment.
• Solution: This segment is expected to witness healthy growth during the forecast period. Sodium chlorate solution is a clear odorless liquid available in 20–50% solution. The healthy growth of the segment is mainly attributed to the growing demand for concentrated solution also known as dry salt in explosives and oxidizable materials, which are extensively used in the nuclear and defense industries.

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By Application
• Pulp & Paper: The segment accounted for more than 80% share in 2022. The primary factor responsible for the dominance of the pulp and paper segment is the high use of sodium chlorate in the synthesis of chlorine dioxide, an excellent key bleaching agent. The growth of paper board packaging due to the increase in e-commerce and trading activities across the globe is likely to drive the demand for pulp and paper in the coming years. The increase in the demand for tissues, wipes and toilet papers in restaurants, hotels, and office spaces is anticipated to drive the market growth.
• Chemical Intermediate: Sodium chlorate is preferred intermediate in potassium chlorate and sodium perchlorates due to its high oxidizing property, which allows the ignition at a faster rate. The segment accounted for the second-largest market share in 2018 owing to the high demand for potassium chlorate in the manufacturing of explosives, flares, and pyrotechnics. It is expected to witness significant growth during the review period.
• Uranium Mining: Sodium chlorate finds substantial application in ore processing particularly uranium mining, an essential material used in nuclear weapons. Nuclear power generation is major contributor to sustainable development as it has low environmental impact and does not generate greenhouse gases. The rapidly increasing demand for fuel in nuclear power plants and increasing environmental concerns related to mining on the backdrop of surging urbanization across globe is likely favor the growth the segment. Also, uranium is widely used as a ballast in aircraft and boats and as gamma sterilization in the medical industry.
• Water Treatment: Sodium chlorate has high oxidizing potential and functions as a powerful oxidizing agent through its application chlorine dioxide. Widespread use of chlorine dioxide in water treatment as it can oxidize mineral compounds of sulfur, iodide, and bisulfite, which are highly toxic are likely to drive the product demand. Thus, the growing demand for treatment of industrial wastewater is expected to result in an increased demand for sodium chlorate in the coming years.
• Leather Tanning: The growing demand for sodium chlorate in tanning and finishing leather are likely to drive market growth. Moreover, the rise in standard of living and increase in consumer spending is expected to bolster the growth of the market.
• Others: Additional uses of sodium chlorate such as surface treatment of metal, manufacturing dyes, pharmaceuticals, herbicide, and vanadium mining are anticipated to drive the market growth during the forecast period.

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By Region
• North America: The market growth is driven by the well-established paper and paperboard industry and stringent regulations pertaining to greenhouse emission through plastic usage. Canada has one of the largest deposits of uranium, which is expected to create high demand for sodium chlorate.
• Europe: Germany is the largest contributor to the regional market growth owing to the established leather tanning and finishing sectors.
• Asia-Pacific: The largest and fastest-growing regional market for sodium chlorate. This is primarily attributed to the high demand for the product in applications such as chlorine dioxide for bleaching pulp, explosives, ore processing, dyes, and leather tanning.
• Latin America: A small but growing mining and water treatment industry is likely to fuel the demand for sodium chlorate in the coming years.
• Middle East & Africa: High growth potential of the pharmaceutical and cosmetic industries is projected to drive the regional market growth during the forecast period.

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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

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