by The sodium hypochlorite market is estimated to be valued at US$ 67.69 Mn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sodium hypochlorite is an inorganic compound with the formula NaOCl. It is formed by treating chlorine with sodium hydroxide or sodium carbonate to produce a solution of Na+ and ClO- ions. Sodium hypochlorite is commonly used as a disinfectant and bleaching agent. Some key uses of sodium hypochlorite include water treatment, cleaning and disinfection of surfaces, oral healthcare, and usage as a bleaching agent in the paper and pulp industry. It possesses good antibacterial and antiviral properties which makes it ideal for disinfecting drinking water and wastewater.
Market Dynamics:
The growing water treatment sector is one of the key drivers propelling the sodium hypochlorite market growth. According to the World Health Organization, over 2 billion people globally use drinking water sources contaminated with feces. With rapid urbanization and industrialization, water pollution has aggravated drastically in both developed and developing economies. This has augmented the demand for sodium hypochlorite for treating and disinfecting water sources. Furthermore, stringent regulations regarding wastewater treatment before disposal into water bodies has also amplified the consumption of sodium hypochlorite. Additionally, the growing awareness about hygiene and sanitization amid the COVID-19 pandemic has further stimulated the demand for sodium hypochlorite for surface disinfection and cleaning purposes.
Segment Analysis
Sodium hypochlorite market is dominated by bleaching powder segment which holds around 60% of the total market share. Bleaching powder is widely used as a disinfectant and oxidizing agent in industries like paper and pulp, chemical processing, water treatment, textiles etc. Its low cost and high effectiveness makes it ideal for wastewater treatment and purification in these industries.
PEST Analysis
Political: Stringent environmental regulations regarding water treatment and disinfection in many countries is positively impacting the sodium hypochlorite market. Economic: Growing industries like textiles, food processing, chemicals etc in developing nations is boosting the demand for sodium hypochlorite as a cost effective disinfectant and bleaching agent. Social: Rising awareness about water borne diseases and importance of disinfection is driving its use in municipal water treatment plants. Technological: Developments in powder technology has enhanced its stability and effectiveness during storage and transport.
Key Takeaways
The Global Sodium Hypochlorite Market Size is expected to witness high growth, exhibiting 28% CAGR over the forecast period of 2023 to 2030, due to increasing demand from end use industries like paper and pulp, chemicals, water treatment etc. Regionally, Asia Pacific is projected to dominate the market and witness fastest growth during the forecast period. China, India and other southeast asian countries will be at the forefront of demand growth owing to rapid industrialization and infrastructural developments in the region.
The sodium hypochlorite market size for 2023 is estimated to be US$ 67.69 Mn. Municipal water treatment will also contribute significantly to volume growth driven by rising urbanization and awareness about water borne diseases. Key players operating in the sodium hypochlorite market are BASF Chemicals, Odyssey Manufacturing Co., Aditya Birla, AGC group, Orica Watercare, Akzo Nobel, Shanghai Polymet Commodities Ltd., Sumitomo Chemicals, Solvay Chem, Sunbelt Chemical Corporations, Arkema Group, Surpress Chem, and Ineos. These players are focused on capacity expansion in high growth markets and developing innovative powder and granular variants for enhancing stability and effectiveness.
Regional analysis
Asia Pacific dominated over 40% of the global sodium hypochlorite market share in 2023 led by China. Infrastructure developments, growing textile and food processing industries have propelled the demand growth in the region. Municipal water treatment growth will also support volume increment going forward.
Key players
Key players operating in the sodium hypochlorite market are BASF Chemicals, Odyssey Manufacturing Co., Aditya Birla, AGC group, Orica Watercare, Akzo Nobel, Shanghai Polymet Commodities Ltd., Sumitomo Chemicals, Solvay Chem, Sunbelt Chemical Corporations, Arkema Group, Surpress Chem, and Ineos.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
