According to a new research report by Global Market Insights Inc., the global Sodium Hypochlorite Market is set to surpass USD 295 Million by 2027.
Sodium hypochlorite also commonly known as bleach has been used as sanitizers in private and public spaces. They are used as cleaning solutions in water purification; as well as disinfectants for swimming pools. Rising demand for water and waste water treatment to save the environment from harmful pollutants coupled with government initiatives is expected to propel the market growth. Increasing demand for household disinfectants is also expected to drive the sodium hypochlorite market in the next few years.
Increasing importance of water treatment especially in industrial sector is expected to rise the demand for sodium hypochlorite
Water treatment business is expected to exceed 1.5 million tons by 2027 with a growth rate of over 6%. Water treatment is witnessing global demand due to scarcity of water in many countries. Moreover, rapid population growth and urbanization, rising attention on water quality and public health, as well as increasing prevalence of water borne diseases is further increasing the sodium hypochlorite market demand. Due to this government initiatives have been taken especially for the waste water to stop the harmful pollutants from getting mix with the environment.
Moreover, increasing emphasis on sewage treatment in the countries such as China, US, and India; is providing significant opportunities in this market. For instance, in 2018, the total funding for the wastewater treatment industry in China was increased by 31% in the 13th FYP, from RMB 427 Bn to RMB 559 Bn.
Browse key industry insights spread across 300 pages with 163 market data tables and 11 figures & charts from the report, “Global Sodium Hypochlorite Market (Applications (Agriculture, Chemical, Water treatment, Textile, Household), Function (Oxidizing, Bleaching, Odor Removal, Disinfection), Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027)” in detail along with the table of contents:
Booming disinfectants products demand across residential and industrial will stimulate industry expansion.
Sodium hypochlorite market from disinfection is anticipated to grow at a CAGR of over 5.8% from 2021 to 2027. Sodium hypochlorite’s disinfection function is utilized to purify household water discharges as well as industrial. They are also used to clean community as well as private swimming pools. This increasing awareness of water treatment among government as well as consumers is propelling this segment.
Moreover, the spread of COVID-19 has spurred a surge in the demand for cleaning and disinfection products. Owing to the increasing awareness about health and hygiene. Rising healthcare expenditure as well as increasing cautiousness among consumers are some of the major factors helping the business to grow at a rapid pace.
Rising demand for water treatment is expected to increase the market expansion
Europe sodium hypochlorite market is expected to exceed USD 95 million by 2027 and is forecasted to grow over 6% from 2021 to 2027. Europe is projected to reflect high demand for disinfectant and sanitizing products over the next few years due to the coronavirus outbreak. Countries, such as Germany, UK and France have high acceptance of sanitizers and disinfectants in their daily lives. This is factor is proving positive for the European market to expand in next few years. The region also has stringent regulations to produce as well as dispose of wastewater. Currently, Germany accounts for the major market share whereas France is expected to have the highest CAGR during the forecast period.
Key manufacturers in sodium hypochlorite industry include Solvay, BASF SE, AGC Chemicals, Aditya Birla Chemicals (India) Limited, Olin corporation, Sumitomo Chemical Co., Ltd., BONDALTI. Companies are implementing strategic initiatives including new product launch, and expansion to enhance market share. For instance, in October 2019, Bondalti restarted its chlor-alkali production in Torrelavega, Spain. The plant will produce sodium hypochlorite, along with other products. This strategic initiative is expected to enhance the company’s market share and open up new business opportunities.