Sodium Chlorate Market Snapshot 2023: Top Companies, Market Size, Share, and Future Growth Trends 2030

Market Overview:
Sodium chlorate (NaClO3) is an inorganic chemical compound manufactured by the electrolysis of brine (NaCl). Industrially sodium chlorate can be used to produce chlorine dioxide, sodium chlorite and perchlorate, chlorate, also used in herbicide, oxidizer, printing and dyeing, metallurgy, paper making and leather industry. The major use of sodium chlorate remains in the pulp and paper industry; it is also the preferred intermediate for sodium perchlorate and sodium chlorite manufacture. Sodium chlorate market is driven by trends in underlying pulp and paper demand. Sodium chlorate is a crucial precursor for the pulp and paper industry producing Elemental Chlorine Free (ECF) bleached pulp. This is the dominant pulp bleaching technology and, without this substance, ECF pulp mills are unable to operate. The paper and pulp industry as a whole is growing globally, albeit at a slower pace than before. Packaging is growing worldwide, as well as tissue and pulp for hygiene products. Regionally, the outlook for the pulp and paper products is stable in North America and Europe and positive in Asia Pacific and South America.On the other hand, the COVID-19 pandemic is challenging the industry. The North American paper products industry has already endured a number of negative impacts - mill closures being one of them. The Nordic paper industry followed suit, after a continued decline in demand for printing and writing paper led to a 29 percent drop in sales in the second quarter of FY20. Currently, the main preparation method of sodium chlorate worldwide is electrolysis. The manufacture of sodium chlorate is a very energy intensive process. According to Superior, electrical energy makes up 65% to 85% of the total cost of producing sodium chlorate, followed by salt at about 15% to 30%. ERCO Worldwide closed the sodium chlorate production facility in Saskatoon, Saskatchewan before the end of 2019, due to the negative impact from rising electrical power prices in the Province of Saskatchewan and the anticipated capital investment required to continue operating the facility reliably. The power purchase price of the enterprise has been rising year by year, and any further increase in power purchase price in the future will lead to an increase in the main business cost of the enterprise, which will adversely affect the profitability of the enterprise. North America had the highest growth rate of all regions. The top three companies are Nouryon, ERCO and Kemira with the revenue market share of 22.89%, 17.02% and 15.32% in 2020.

Sodium Chlorate market reached a value of USD 2448.76 million in 2022. It's expected that the market will achieve USD 3081.64 million by 2028, exhibiting a CAGR of 3.91% during the forecast period.

A thorough understanding of the Chemicals sector and its commercial potential is the aim of the market study. The Sodium Chlorate Market Report has 98 pages and has a detailed table of contents, a list of data, tables, and charts, along with an in-depth analysis.

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Market Segmentation:
Leading Players in the Sodium Chlorate Industry:
China First Chemical Holdings
Sanxiang Electrochemical
CHG
Chemtrade
Hunan Hengguang Chemical
Inner Mongolia Lantai Industrial
Lianyungang Xingang Chemical
Kemira
Nouryon
Arkema
Ercros
ERCO

To preserve their position, these big corporations relied on primary growth tactics such as product portfolio expansion, current trends, financing, mergers and acquisitions, partnerships, new product invention, and geographical development.

Based on Type:
NaClO3 Purity More than 99.5%
NaClO3 Purity Less Than 99.5%

Based on Application:
Pulp & Paper Industry
Water Treatment
Chemical Raw Materials
Others

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Key Factors Considered:
COVID-19 - Amid the COVID-19 crisis, the Sodium Chlorate market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research. The epidemic is still causing tremendous disruption in industries throughout the world. We've been tracking the direct and indirect consequences of the COVID-19 outbreak on the Sodium Chlorate market. To Know How Covid-19 Pandemic will Impact this Industry - https://www.precisionreports.co/enquiry/request-covid19/22791863

Regional Conflict / Russia-Ukraine War - The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it's going to evolve in the years to come.

Challenges & Opportunities - Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

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Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today's businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Precision Reports is the credible source for gaining the market reports that will provide you with the lead your business needs.

This release was published on openPR.