Sodium Hypochlorite Market Market Size by Global Major Companies Profile, and Key Regions 2028

The global sodium hypochlorite market is set to gain traction from the high demand for the product from the water treatment chemical industry. Chlorine has the ability to kill fungi and bacteria. Hence, it is extensively used in disinfectants. At the same time, it is utilized for treatment and purification of drinking water, swimming pools, and surgical instruments. This information is given by Fortune Business Insights™ in a new report, titled, "Sodium Hypochlorite Market, 2021-2028." The report further mentions that the global market size was USD 261.7 million in 2020 and is projected to reach USD 385.6 million by 2028, exhibiting a CAGR of 5.0% during the forecast period.

COVID-19 Pandemic:Shutdown of Manufacturing Plants to Impact Growth

The COVID-19 pandemic has resulted in disturbances in supply chain and lower sales. It has severely affected a large number of industries, such as medical, paper, and textile. The temporary shutdown of manufacturing plants hasalso impacted the consumption and demand for sodium hypochlorite. These factors are expected to obstruct growth. Our research reports will help you better understand the current scenario.

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Segments-

Paper Industry Segment to Grow Significantly Fueled by Usage as Bleaching Agent

By application, the market is segregated into medical, textile industry, paper industry, water treatment, and others. Out of these, the paper industry segment earned 18.8% in terms of the sodium hypochlorite market share in 2020. This growth is attributable to the rising usage of this hypochloriteas a bleaching agent in the industry.

Report Coverage-

We employ iterative and comprehensiveresearch techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmentingquantitative aspects of the parents market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.

Drivers & Restraints-

Increasing Demand for Hand Wash and Surface Cleaners to Augment Growth

In the household industry, liquid bleach is extensively utilized for a wide range of products, such as color bleaches, detergents, hand wash, surface cleaners, disinfectants, and cleaning products. The high demand for these products is expected to bolster the sodium hypochlorite market growth in the near future. Also, the increasing consciousness of high-quality household products for maintaining cleanliness and hygiene would aid growth. At the same time, the surging demand for sanitizers amid the COVID-19 pandemic would contribute to this growth. However, sodium hypochlorite can often cause eye damage and burns. This may hinder its demand.



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Regional Insights-

Availability of Cost-effective Labor and Raw Materials to Help Asia Pacific Dominate

Geographically, Asia Pacific held USD 109.8 million in terms of revenue in 2020 and is set to retain its dominant position throughout the forthcoming years. This growth is attributable to the availability of low-cost labor and raw materials. Rapid industrialization and surging population helped China to generate the largest share in 2020.

In North America, the rising consumer awareness of hygiene and cleanlinesswould accelerate growth.Europe is anticipated to grow substantially because of the rapid economic development in the U.K., France, and Germany. Coupled with this, the high demand for NaOCl from consumer goods, textile, and paper industries would drive regional growth.

Competitive Landscape-

Key Players Focus on Developing Novel Products to Avoid Transmission of COVID-19

The global market contains various manufacturers that are majorly focusing on introducing unique products to tackle the transmission of coronavirus. A few others are engaging in mergers &acquisitions, joint ventures, and contracts to gain a competitive edge. Below is one of the latest industry developments:

September 2020:thyssenkrupp Industrial Solutions South Africa (tkISSA)locally manufactured and engineered a portable, custom-designedsodium hypochloritedisinfection trailer unit. It will be used to spray disinfectant in COVID-19 hotspot areas to reduce transmission.
A list of prominent providers operating in this market, globally:

PCC Group (Poland)
thyssenkrupp (Germany)
Marsina Engineering Srl (Italy)
OxyChem Corporation (U.S.)
Tessenderlo Group (Belgium)
Olin Corporation. (U.S.)
Vynova Group (Belgium)
Ennore India Chemical International (India)
Hawkins, Inc. (U.S.)
ICL (UK)
Other Key Players
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This release was published on openPR.