Sat, 10 Dec 2022

The Sodium chlorate market share is expected to reach US$ 4,619.9 million in 2032 Dyes, Wood, pulp and and Paper Industry will drive the market growth during the forecast period. According to FMI, the sodium chlorate market is estimated at US$ 3,217.9 million in 2022 and is expected to increase at a CAGR of 4.1% in the forecast period from 2022 to 2032.

Sodium chlorate is primarily used for the manufacture of chlorine dioxide, which acts as a bleaching agent in the paper and pulp industry. Sodium chlorate is white/off-white in colour and is odourless. Sodium chlorate is highly soluble in water.

Sodium chlorate in its pure form is inflammable but during its decomposition, it releases oxygen, hence it acts as an accelerant in presence of flammable substances. Sodium chlorate is used for the extraction of uranium and vanadium in the mining industry.

Sodium chlorate is also used as herbicide in weed control application. In the recent years, sodium chlorate has been extensively utilized in the manufacture of chemical intermediates such as potassium chlorate and sodium perchlorate.

The overall market for sodium chlorate is projected to remain positive, however, it will exhibit a slower growth over the forecast period due to the availability of alternatives such as hydrogen peroxide that can be used for bleaching pulp.

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Global Sodium Chlorate Market Dynamics

Global Sodium Chlorate Market Drivers

The global sodium chlorate market is majorly driven by the growth in the paper and pulp industry. As about 80-90% of the overall sodium chlorate consumption is for the manufacture of chlorine dioxide, which is used in the paper and pulp industry, the demand for sodium chlorate depends significantly on the growth of paper and pulp industry.

Global Sodium Chlorate Market Restraints

One of the major factors restraining the growth of the global sodium chlorate market is the availability of alternatives such as hydrogen peroxide and ozone, which can be used for bleaching of pulp.

Moreover, with the increasing popularity of e-media, there has been a slowdown in the use of papers for the newspaper publishing and similar sectors. Shift in consumer preferences is observed on the basis of availability and cost of products. The aforementioned factors are expected to hinder the market growth to a great extent.

Global Sodium Chlorate Market Trends

There has been an increasing use of sodium chlorate for niche applications such as for the production of oxidation candles for aircrafts and submarines. Sodium chlorate is also used for the surface treatment of metals in the automotive and electronics industries.

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Global Sodium Chlorate Market Regional Outlook

The forecast for global sodium chlorate market is expected to be positive in the coming years exhibiting slow growth over the forecast period. Asia pacific holds a dominant share in the global sodium chlorate market and is projected to remain dominant in the global market throughout the forecast period due to the large base of paper and pulp industry in the region.

Moreover, China is a leading consumer of sodium chlorate. Along with paper and pulp, China has a significant base for the use of sodium chlorate in niche applications such as fireworks.

Regions such as Latin America has also exhibited significant growth in the paper and pulp industry, hence, there is a substantial demand for sodium chlorate in the region. Japan and MEA are projected to hold relatively small shares in the global sodium chlorate market. The regions such as North America and Europe are expected to witness sluggish growth over the forecast period, 2017-2027.

Global Sodium Chlorate Market Participants

Examples of some of the market participants identified across the value chain of the global sodium chlorate market are, Akzo Nobel N.V. (Eka Chemicals), Kemira, ERCO Worldwide, Chemtrade (Canexus), Arkema, Tronox Limited, Ercros S.A and Inner Mongolia Lantai Industrial among others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Global Sodium Chlorate Market Segmentation

The global sodium chlorate market can be segmented on the basis of application and region.

On the basis of application, the global sodium chlorate market can be categorized as:

  • Bleaching agent
  • Oxidizing agent (chemical synthesis)
  • Herbicide

On the basis of form, the global sodium chlorate market can be segmented into:

  • Crystalline form
  • Solution form

On the basis of end-use industry, the global sodium chlorate market can be segmented into:

  • Paper and Pulp Industry
  • Fireworks
  • Chemical Industry
  • Mining
  • Aerospace and Marine
  • Electronics
  • Automotive

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The post Sodium Chlorate Market is Reaching US$ 3,217.9 Mn at a Gracious Rate of 4.1% by the year 2032 appeared first on Future Market Insights.

Original Source of the original story >> Sodium Chlorate Market is Reaching US$ 3,217.9 Mn at a Gracious Rate of 4.1% by the year 2032

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