Sodium Hypochlorite Market Analysis & Forecast | 2022-2028
Sodium Hypochlorite Market Size, Share, & Forecast Analysis and Growth Opportunity– 2022-2028 See less
Sodium Hypochlorite Market Size, Share, & Forecast Analysis and Growth Opportunity– 2022-2028
Sodium Hypochlorite Market is Segmented by Function Type (Oxidizing, Bleaching, Odor Removal, Disinfection, and Others), by Application Type (Agriculture, Chemical, Water Treatment, Textile, Household, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Sodium Hypochlorite Market is Segmented by Function Type (Oxidizing, Bleaching, Odor Removal, Disinfection, and Others), by Application Type (Agriculture, Chemical, Water Treatment, Textile, Household, and Others), and by Region ...
The sodium hypochlorite market was estimated at USD 222.18 million in 2021 and is likely to grow at a CAGR of 5.4% during 2022-2028 to reach USD 322.12 million in 2028.
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Sodium hypochlorite is basically a chemical compound that is unstable and may decompose explosively. It comprises a sodium cation and a hypochlorite anion.
The growth of the sodium hypochlorite market is primarily driven by:
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Based on the function type, the market is segmented as oxidizing, bleaching, odor removal, disinfection, and others. The disinfection segment is estimated to account for the major share of the market during the forecast period. Factors such as the growing surface disinfectant market, the rising need for enhanced healthcare services, and the increasing spending power of consumers on personal hygiene are further expected to fuel the industry's growth during the forecast period.
Based on the application type, the market is segmented as agriculture, chemical, water treatment, textile, household, and others. Water treatment is estimated to be the largest application type in the market during the forecast period. Many countries are facing the issue of water scarcity due to which governments are taking various initiatives to reuse the wastewater from municipalities as well as industry. This factor is also helping to maintain an ecological balance, fueling the overall industry growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period owing to the increasing consumer awareness regarding health and hygiene and growing demand for wastewater treatment in the region. India, China, Japan, and South Korea are the major contributors to fueling the growth of the regional market. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
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This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
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Some of the key players in the market are-
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
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The market was estimated at USD 222.18 million in 2021.
The market is likely to reach USD 322.12 million in 2028.
The market is expected to witness an impressive growth of 5.4% CAGR in the foreseeable future.
AGC Chemicals, AkzoNobel, Arkema, BASF SE, Hawkins, Inc., INEOS, Olin Corporation, Solvay, Sumitomo Chemical Co., Ltd., and Sunbelt Chemical Corporations are among the key players in the market.
Asia-pacific is expected to be the leading market during the forecast period of 2022-28.
Water treatment is estimated to be the largest application type in the market in the coming five years.
Some of the factors driving the growth of the market are the increase in consumption of sanitization products and the growing water treatment chemical market.
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