Sodium Hypochlorite Market Growth Analysis | 2023-2028

Market Insights

The sodium hypochlorite market was estimated at USD 234.84 million in 2022 and is likely to grow at a CAGR of 5.36% during 2023-2028 to reach USD 322.12 million in 2028.

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What is sodium hypochlorite?

Sodium hypochlorite is basically a chemical compound that is unstable and may decompose explosively. It comprises a sodium cation and a hypochlorite anion.

Key Players

Some of the key players in the market are-

• AGC Chemicals
• AkzoNobel
• Arkema
• BASF SE
• Hawkins, Inc.
• INEOS
• Olin Corporation
• Solvay
• Sumitomo Chemical Co., Ltd.
• Sunbelt Chemical Corporations.

Market Dynamics

The growth of the sodium hypochlorite market is primarily driven by:

• The increase in consumption of sanitization products.
• The growing water treatment chemical market.

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Segments' Analysis

By Function Type

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.

By Application Type

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.

Regional Insights

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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Market Segmentation

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.

By Function Type

• Oxidizing
• Bleaching
• Odor Removal
• Disinfection
• Others

By Application Type

• Agriculture
• Chemical
• Water Treatment
• Textile
• Household
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

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.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the function types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.