WASHINGTON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The Global Sodium Chlorate Market is valued at USD 2.9 Billion in 2021 and is projected to reach a value of USD 3.9 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.2% over the forecast period 2022-2028.
Market Overview
The expansion of the paper and pulp sector is the primary driver of the market. Over the past few years, customers' demand for high-quality craft paper, tissue paper, and packaging paper has increased. The market will probably see prospects for expansion as a result soon.
We forecast that the crystalline category in Sodium Chlorate market sales will account for more than 60% of total sales by 2028 because sodium perchlorate, potassium chlorate, and sodium chlorite are increasingly being used to manage weeds.
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Market Dynamics
Increased adoption of Sodium Chlorate in various end-use industries to boost market growth
One of the major factors driving the global Sodium Chlorate market is rising demand for wood pulp for craft paper manufacturing. Sodium Chlorate is used to produce chlorine dioxide on-site, which is a key bleaching agent in the elemental chlorine-free (ECF) method of wood pulp bleaching. Furthermore, consumer demand for high-quality packaging, tissue, and craft paper has increased in recent years. This is likely to provide growth opportunities for the global Sodium Chlorate market. The ease of availability, storage, and cost-effectiveness of Sodium Chlorate are driving its use in various industries.
Market Growth Supported by Growing Demand in the Pulp and Paper Industry
The growth of the paper and mash industries considerably impacts the global Sodium Chlorate market. Since the production of chlorine dioxide, which is used in the paper and pulp industries, accounts for around 80–90% of Sodium Chlorate's overall use, the interest in Sodium Chlorate is largely dependent on the growth of this sector.
Top Players in the Global Sodium Chlorate Market
- GFS Chemicals (US)
- ALDON Corporation (US)
- Spectrum Chemicals (India)
- Mil-Spec Industries (US)
- H. K. Group (India)
- A. B. Enterprises (India)
- Shree Chlorates (India)
- Petrochem (India)
For Additional Information on Sodium Chlorate Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Sodium Chlorate Market
- One trend that Vantage Market Research (VMR) expects to see in the Sodium Chlorate industry has growing usage in the pulp and paper sector. One of the biggest markets for Sodium Chlorate is the paper and pulp sector, where it is used to produce chlorine dioxide on-site. It is widely utilised in developing nations like India and China and is the primary bleaching agent for the chemical pulping process used in elemental chlorine-free (ECF) paper.
- Another trend that VMR predicts will continue in the Sodium Chlorate industry is expanding the usage of Sodium Chlorate for metal surface treatment. Several industries, including the automotive, building, industrial equipment, container, electrical, medical, chemical laboratories, and aerospace, regularly treat the surfaces of metals. In applications involving the surface treatment of metals, Sodium Chlorate is growing in favor.
Top Report Findings
- Based on Forms, most of the Sodium Chlorate market's revenue is controlled by the crystalline category because crystalline Sodium Chlorate is used in a variety of industrial applications. Most commonly, bleaching and the manufacture of herbicides use Sodium Chlorate in its crystalline form.
- Based on Applications, most of the Sodium Chlorate market's revenue is controlled by the pulp and bleaching industry category. The growing demand for environmentally friendly paper production methods will probably increase the need for Sodium Chlorate as a bleaching agent in the near future.
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Recent Developments in the Global Sodium Chlorate Market
- NXP Semiconductors NV is focused on developing new applications for its products, such as Sodium Chlorate sensors for industrial monitoring, which will help it increase its share in the market.
Pulp and Bleaching Industry Category in Sodium Chlorate Market to Generate Over 30% Revenue
Sodium Chlorate are an expensive investment. Vantage Market Research has analyzed the market for Sodium Chlorate to understand its current state and potential future growth factors. For better understanding, based on the application, the Sodium Chlorate market is divided into pulp and bleaching industry, chlorates of other metals, leather tanning, dyes and others.
During the forecast period, the market for Sodium Chlorate is anticipated to experience the highest CAGR for the pulp and bleaching industry category. Increased demand for bleached cartons and quick growth of paper packaging Asia Pacific industry, which has a demand for Sodium Chlorate that exceeds supply and is essential to industry in developing economies.
On the other hand, the leather tanning category is anticipated to grow significantly. Sodium Chlorate is being used more and more for tanning and finishing leather because of its oxidising qualities. Rapid urbanisation, shifting lifestyles, and an increase in disposable money are likely to fuel the expansion of the textile industry, which is predicted to increase demand for Sodium Chlorate.
Asia Pacific Region in Sodium Chlorate Market to Generate More 35.4% Revenue
The Asia Pacific dominates the Sodium Chlorate market, and this dominant trend will continue throughout the projection period due to the strong industrialization. Significant advancements in the automotive industry, mostly in industrialized nations, have been made due to the increased need for better engine designs and the introduction of cutting-edge technologies. The regional market expansion will receive a boost from the increased demand from the paper & pulp sector, particularly in China.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Sodium Chlorate Market Forecast Report (2022-2028).
Global Sodium Chlorate Market Segmentation
By Forms
- Crystalline
- Solution
By Applications
- Pulp & Bleaching Industry
- Chlorates of Other Metals
- Leather Tanning
- Dyes
- Other Applications
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2.9 Billion |
| Revenue Forecast by 2028 | USD 3.9 Billion |
| CAGR | 5.2% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | GFS Chemicals, ALDON Corporation, Spectrum Chemicals, Mil-Spec Industries, H. K. Group, A. B. Enterprises, Shree Chlorates, Petrochem |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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