Sodium Hypochlorite Market to Hit USD 385.6 Million by 2028; High Demand for Hand Sanitizers amid COVID-19 Pandemic to Propel Growth, reports Fortune Business Insights™

Pune, India, April 01, 2021 (GLOBE NEWSWIRE) -- The global sodium hypochlorite market is set to gain traction from the high demand for the product from the water treatment chemical industry. Chlorine has the ability to kill fungi and bacteria. Hence, it is extensively used in disinfectants. At the same time, it is utilized for treatment and purification of drinking water, swimming pools, and surgical instruments. This information is given by Fortune Business Insights™ in a new report, titled, “Sodium Hypochlorite Market, 2021-2028.” The report further mentions that the global market size was USD 261.7 million in 2020 and is projected to reach USD 385.6 million by 2028, exhibiting a CAGR of 5.0% during the forecast period.

COVID-19 Pandemic: Shutdown of Manufacturing Plants to Impact Growth

The COVID-19 pandemic has resulted in disturbances in the supply chain and lower sales. It has severely affected a large number of industries, such as medical, paper, and textile. The temporary shutdown of manufacturing plants has also impacted the consumption and demand for sodium hypochlorite. These factors are expected to obstruct growth. Our research reports will help you better understand the current scenario.

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Report Coverage-

We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parents market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.

Competitive Landscape-

Key Players Focus on Developing Novel Products to Avoid Transmission of COVID-19

The global market contains various manufacturers that are majorly focusing on introducing unique products to tackle the transmission of coronavirus. A few others are engaging in mergers & acquisitions, joint ventures, and contracts to gain a competitive edge.

Below is one of the latest industry developments:

September 2020: thyssenkrupp Industrial Solutions South Africa (tkISSA) locally manufactured and engineered a portable, custom-designed sodium hypochlorite disinfection trailer unit. It will be used to spray disinfectant in COVID-19 hotspot areas to reduce transmission.

A list of prominent providers operating in this market, globally:

  • PCC Group (Poland)
  • thyssenkrupp (Germany)
  • Marsina Engineering Srl (Italy)
  • OxyChem Corporation (U.S.)
  • Tessenderlo Group (Belgium)
  • Olin Corporation. (U.S.)
  • Vynova Group (Belgium)
  • Ennore India Chemical International  (India)
  • Hawkins, Inc. (U.S.)
  • ICL (UK)
  • Other Key Players

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Paper Industry Segment to Grow Significantly Fueled by Usage as Bleaching Agent

By application, the market is segregated into medical, textile industry, paper industry, water treatment, and others. Out of these, the paper industry segment earned 18.8% in terms of the sodium hypochlorite market share in 2020. This growth is attributable to the rising usage of this hypochlorite as a bleaching agent in the industry.

Drivers & Restraints-

Increasing Demand for Hand Wash and Surface Cleaners to Augment Growth

In the household industry, liquid bleach is extensively utilized for a wide range of products, such as color bleaches, detergents, hand wash, surface cleaners, disinfectants, and cleaning products. The high demand for these products is expected to bolster the sodium hypochlorite market growth in the near future. Also, the increasing consciousness of high-quality household products for maintaining cleanliness and hygiene would aid growth. At the same time, the surging demand for sanitizers amid the COVID-19 pandemic would contribute to this growth. However, sodium hypochlorite can often cause eye damage and burns. This may hinder its demand.

Regional Insights-

Availability of Cost-effective Labor and Raw Materials to Help Asia Pacific Dominate

Geographically, Asia Pacific held USD 109.8 million in terms of revenue in 2020 and is set to retain its dominant position throughout the forthcoming years. This growth is attributable to the availability of low-cost labor and raw materials. Rapid industrialization and surging population helped China to generate the largest share in 2020.

In North America, the rising consumer awareness of hygiene and cleanliness would accelerate growth. Europe is anticipated to grow substantially because of the rapid economic development in the U.K., France, and Germany. Coupled with this, the high demand for NaOCl from consumer goods, textile, and paper industries would drive regional growth.

Browse Detailed Summary of Research Report with TOC: 

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Key Developments: Mergers, Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Qualitative Insights – Impact of COVID-19 on Global Sodium Hypochlorite Market
    • Supply Chain Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to COVID-19 outbreak
  • Global Sodium Hypochlorite Market Analysis, Insights and Forecast, By Application, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Application (Volume/Value)
        • Water Treatment
        • Paper Industry
        • Textile Industry
        • Medical
        • Others
  • Global Sodium Hypochlorite Market Analysis, Insights and Forecast, By Region, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Region (Volume/Value)
        • North America
        • Europe
        • Asia Pacific
        • Latin America
        • Middle East & Africa

TOC Continued…!

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