A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Sodium hypochlorite Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2020 to 2028.
Sodium hypochlorite Market Analysis
According to cognizance market research, the Sodium hypochlorite Market was valued at USD 207.0 Billion in 2019 and expected to register a CAGR of 4.9% from 2021 to 2028.
What is Sodium hypochlorite?
Sodium hypochlorite (NaOCl), also known as bleach is a pale greenish-yellow colour diluted solution, which is commonly known as bleach, used as a disinfectant worldwide. It disinfects viruses, bacteria, fungi, and mycobacterium. It is used on a large scale for surface purification, bleaching, and odour removal. It is effectively used for water purification.
The product is majorly used as a bleaching agent in industries and households. In 1% mixture of sodium hypochlorite liquid bleach, there is 3.5% of chlorine and for sodium hypochlorite liquid, 5% chlorine is available. A large proportion of chlorine is available in the mixture because chlorine helps to kill bacteria, fungi and viruses.
Sodium hypochlorite Market Outlook
In the Sodium hypochlorite report, the market outlook segment mainly includes important dynamics of the market which include drivers, restraints, opportunities and challenges tackled by the industry. Opportunities and challenges are extrinsic factors whereas, drivers and restraints are intrinsic factors of the market.
The rise in the demand for clean water will drive market growth. The use of bleach in the textile, paper pole industry will also increase the demand for sodium hypochlorite. The numerous benefits associated with wine are ultimately boosting the growth of sodium hypochlorite demand globally.
Due to the huge ability of disinfectant available, the excess use of bleach harms skin in terms of scraps and cuts. The insatiable nature of sodium hypochlorite will also obstruct market growth because of its oxidizing properties.
The increase in river pollution in the upcoming days will create an increase in waterborne disease, leading to an increase in the demand for clean water. Sodium hypochlorite also used as an oxidizing agent in the chemical industry in the future.
Industrialization will increase the demand for bleach. Sodium hypochlorite has high applications in the textile industry due to which there has and is going to be an increasing trend in the market. Since sodium hypochlorite is used in water treatment operations, the rapid industrialization in many countries over the past couple of years has resulted in creating a strong existence in the market and it is projected to continue to do so in the coming future as well. As the application of the product is much dispersed hence, there is going to be an increasing demand for the same. Similarly, increasing awareness of hygiene practices and the need for sanitation considering the current pandemic will result in the positive growth of the industry.
The report offers the revenue of the Sodium hypochlorite market for the period 2018-2028, considering 2018 and 2019 as a historical year, 2020 as the base year and 2021 to 2028 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Sodium hypochlorite market for the forecast period. The Sodium hypochlorite market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Sodium hypochlorite market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Sodium hypochlorite market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global Sodium hypochlorite market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the global Sodium hypochlorite market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Sodium hypochlorite market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Sodium hypochlorite market. The subsequent section of the Sodium hypochlorite report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
The Sodium Hypochlorite market is very dispersed in nature as the product has high applications in multiple markets. It is highly used as a raw material in various commodities. The Sodium hypochlorite market currently has a larger existence in the Asia Pacific region followed by Europe and North America. It is observed that as of 2019 the market had a lesser stake in regions like the Middle East, Africa, and Central and South America. Countries like India, Japan, Thailand, South Korea, and Indonesia which are increasingly becoming textile hubs are expected to have a larger market share in the near future. Similarly, Europe is also expected to experience growth in the market due to the increasing demand for sanitizing and disinfectant-related products. As the awareness regarding hygiene is growing in many developing and developed countries that will result in the growth of the market. Similarly, countries dealing with water crisis and water-borne illness are expected to shift their preferences towards sodium hypochlorite in water treatment operations. In general, the market is likely to grow at a steady rate.
Sodium hypochlorite Market Competitive Landscape
The “Sodium hypochlorite Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Unilever, Chlorotec, Vynova, OxyChem, Hawkins Inc., Sumitomo Chemical, and Solvay Chem among others.
The report explores the competitive scenario of the Sodium hypochlorite market. Major players operating in the sodium hypochlorite market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the sodium hypochlorite market report.
Key Questions Answered in Sodium hypochlorite Market Report
- What are the major players operating in the sodium hypochlorite market?
- What are trends, drivers, opportunities, and challenges in the sodium hypochlorite market?
- Which is the leading country in the sodium hypochlorite market?
- What are the revenue share forecasts of key sections of the sodium hypochlorite during the estimated timeframe?
- Which segment is expected to lead the sodium hypochlorite market in terms of revenue by 2030?
- How partnerships & alliances among companies operating in the market are broadening the scope of the sodium hypochlorite market?
- Who are the top 5 leaders of the sodium hypochlorite market?
- Which unmet needs will remain unaddressed over the projected period?
The Sodium hypochlorite Market has been segmented as below:
Sodium hypochlorite Market, by type
- Cleaning and disinfectant
Sodium hypochlorite Market, by end
- Water treatment
Sodium hypochlorite Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa