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Sodium Chlorite Market Projected to Garner $282,911.4 Thousand by 2027, and Rise at a CAGR of 4.4% from 2020 to 2027

08-29-2024 07:14 AM CET | Chemicals & Materials

Press release from: Research Dive

Sodium Chlorite Market

Sodium Chlorite Market

The global sodium chlorite market is projected to observe substantial growth over the forecast period, owing to the rising utilization of sodium chlorite in several industries for numerous purposes like disinfection and others. The Asia-Pacific region is predicted to observe striking growth during the analysis period.

Research Dive states that the global sodium chlorite market is estimated to register a revenue of $282,911.4 thousand by 2027, at a CAGR of 4.4% during the forecast period from 2020 to 2027.

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Market Dynamics

As per the analysts of Research Dive, the increasing usage of sodium chlorite in several end use industries such as oil & gas, food & beverages, and others for various purposes such as bleaching and disinfection are the major factors anticipated to accelerate the growth of the global abrasive market over the forecast period. In addition, the urgency of treating wastewater owing to the rising demand for drinking water around the world is predicted to create huge growth opportunities for the sodium chlorite market in the estimated period. However, the stringent regulations & environmental rules related to the usage of sodium chlorite may hinder market growth in the coming years.

Impact of COVID-19 on the Industry

The outbreak of coronavirus across the globe favorably impacted the global sodium chlorite market. The market's growth is mainly due to increasing use of sodium chlorite in numerous healthcare institutions for the treatment of COVID-19 affected patients. Sodium chlorite solution is used by these patients for gargling and many other uses. Therefore, the demand for sodium chlorite is projected to grow and have a prominent impact on the global sodium chlorite market during the pandemic period.

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Segments of the Market

The report has divided the global sodium chlorite market into various segments based on application, end-use industry, and region.

By application, the disinfectant sub-segment accounted for $120,936.2 thousand in 2019 and is estimated to observe lucrative growth during the analysis period. This is mainly because sodium chlorite is majorly used as a disinfectant in hospitals to decrease the spread of hospital-acquired infections (HAIs). Besides, an increase in number of HAIs across the globe is projected to boost the sub-segment's growth by 2027 in the sodium chlorite market.

By end-use industry, the water treatment sub-segment accounted for $101,789.5 thousand in 2019 and is estimated to hold most of market share during the analysis period. The significant growth of the sub-segment is mainly owing to the rising demand for water due to rapidly increasing population across the globe. In addition, the government bodies are hugely focusing on treating wastewater, which is expected to propel the sub-segment's growth by 2027.

By region, the Asia Pacific sodium chlorite market valued at $74,141.6 thousand in 2019 and is estimated to witness prominent growth growing at a CAGR of 4.8% in the projected timeframe. Rising demand for cleaning wastewater and the existence of huge number of sodium chlorite producers in the region are significant factors predicted to boost the regional market growth by 2027. Besides, the swift growth in textile & clothing manufacturing across the APAC region is another factor estimated to foster the sodium chlorite market growth in the near future.

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Prominent Market Players

The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global sodium chlorite market are: Occidental Petroleum Corporation, OSAKA SODA, ERCO Worldwide, Shandong Gaomi Gaoyuan Chemical Industry Co., Ltd., Ercros SA, Carlit Holdings Co., Ltd., Fengchen Group Co., Ltd, Otsuka Chemical Co., Ltd, Dongying Shengya Chemical Co., Ltd., and Yancheng Huaou Industry Group Co., Ltd. These players are implementing numerous strategies to gain a leading position in the global industry.

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Mr. Abhishek Paliwal
Research Dive
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About Research Dive:

Research Dive is a market research firm offering actionable insights and extensive analysis of various markets across different verticals. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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