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Sodium Percarbonate Market Report 2024 - Sodium Percarbonate Market Trends And Demand
Sodium Percarbonate Market
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According to The Business Research Company's, The sodium percarbonate market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growing consumer awareness of environmental issues, rising urbanization, and higher standards, a shift toward sodium percarbonate as a safer alternative, water treatment adopted sodium percarbonate for its efficiency, growth in the laundry detergent sector.
The sodium percarbonate market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing prioritize sustainability and eco-friendliness, stabilizing sodium percarbonate for extended shelf life, the growing e-commerce sector will provide a convenient, global water scarcity and pollution rise, sodium percarbonate, enforcing more stringent environmental and safety regulations. Major trends in the forecast period include a shift towards green chemistry and being environmentally safe, Sodium percarbonate is increasingly being explored for use, and solid cleaning agents, including those containing sodium percarbonate, percarbonate is becoming more popular in the textile sector.
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Market Drivers and Trends:
Increasing consumer demand for detergents is expected to propel the growth of the sodium percarbonate market going forward. Detergents are substances, typically surfactants or mixtures of surfactants, that possess cleansing properties when diluted in water. The increasing demand for detergents is fueled by heightened hygiene awareness, urbanization trends, rising disposable incomes, technological innovations, and environmental consciousness. Sodium percarbonate enhances detergents by providing effective bleaching and cleaning capabilities, serving as an eco-friendly alternative to harsh chemicals. For instance, in June 2023, according to Procter & Gamble Company, a US-based consumer goods corporation, net sales for fabric and home care products reached $28,371 million, a 3% increase from $27,556 million in 2022, with an 8% growth in organic sales. Therefore, increasing consumer demand for detergents is driving the sodium percarbonate market.
Major companies operating in the sodium percarbonate market are increasing their focus on developing innovative products such as coated sodium percarbonate to gain a competitive edge in the market. Coated sodium percarbonate is a granular chemical compound made by coating sodium percarbonate with a protective layer, often consisting of materials like wax or silicate. For instance, in June 2022, SDC Enterprises Ltd., a US-based textile testing company, launched a new product, sodium percarbonate, which is a compound that serves as a solid source of hydrogen peroxide when dissolved in water. It represents a strategic move to provide testing professionals and manufacturers with an effective and eco-friendly option for bleaching and cleaning applications. Its broad range of uses across multiple industries highlights its importance in meeting modern consumer demands for sustainable products while maintaining high performance in cleaning efficacy.
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Major Key Players of the Market:
The Procter & Gamble Company, Merck KGaA, Evonik Industries AG, Hodogaya Chemical Co. Ltd., Zhejiang Jinke Chemical Co. Ltd., Akkim Kimya, OCI Peroxygens LLC, American Elements, Kylin Chemicals Co. Ltd., Hongye Chemical Co. Ltd., Acuro Organics Limited, STPP Group CO. LIMITED, DUBI CHEM MARINE INTERNATIOAL, Ronas Chemical Co. Ltd., Hexing Chemical Industry Co. Ltd., S D C Enterprises Ltd., A B Enterprises, Junsei Chemical Co. Ltd., Jiangxi Boholy Chemical Co. Ltd., Dhairya International
Sodium Percarbonate Market 2024 Key Insights:
• The sodium percarbonate market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Increasing Consumer Demand For Detergents Fuels Growth In The Sodium Percarbonate Market
• New Launches Enhance Color Fastness Testing And Eco-Friendly Applications
• Asia-Pacific was the largest region in the sodium percarbonate market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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