Sodium Chlorate Market - New Actionable Insights 2023

 

According to a new report published by UnivDatos Markets Insights, the Sodium Chlorate Market was valued at more than USD 1000 million in 2021 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Form (Crystalline and Amorphous); End-User (Paper & Pulp, Chemical, Mining, and Others); Region/Country.

The sodium chlorate market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the sodium chlorate market. The sodium chlorate market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the sodium chlorate market at the global and regional levels.

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Market Overview

In the industrial plant, concentrated sodium chloride solutions are electrolyzed to create sodium chlorate. Sodium chlorate is utilized as an oxidizing agent in the dyes industry as well as in the production of explosives, matches, and other products. Chlorine dioxide, a green bleaching agent used in the paper and pulp industries, is mostly made from sodium chlorate.

Factors such as increasing demand for leather tanning and dyes applications coupled with the growing adoption of sodium chlorate in the agriculture sector and increasing production in the market are some of the prominent factors that are positively influencing the market growth globally.

Some of the major players operating in the market include Arkema; Nouryon; ERCO Worldwide; Kemira; Shree Chlorates; Tronox Holdings plc; ChemTrade; American Elements; Mil-Spec Industries Corporation; GFS Chemicals, Inc.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity & solvency management. The sodium chlorate market has been significantly affected during these times owing to the gap between supply and demand.

The global sodium chlorate market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on form, the market is bifurcated into crystalline and amorphous. The amorphous sodium chlorate category is expected to grow with a considerable CAGR during the forecast period owing to its use primarily as an oxidizing agent in the production of chlorine dioxide, a bleaching agent used in the pulp and paper industry. Furthermore, it is relatively stable and has a relatively low risk of explosion, making it a preferred alternative to other chlorates, such as potassium chlorate, chlorates, perchlorates, and other applications.

·        On the basis of end-user, the market is categorized into paper & pulp, chemical, mining, and others. Among these, the chemical industry witnessed the highest CAGR during the forecast period because Sodium chlorate is used primarily as an oxidizing agent in the chemical industry. Where sodium chlorate is used as a raw material in the production of other chemicals, such as perchlorates, chlorates, and potassium chlorate. Additionally, it is also used as an intermediate in the manufacture of chlorine dioxide, which is used as a bleaching agent in the pulp and paper industry, as well as a sanitizer in water treatment applications. Thus, such factors are escalating the growth of sodium chlorate in the chemical industry.

Sodium Chlorate Market Geographical Segmentation Includes:

·        North America (U.S., Canada, Rest of North America)

·        Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)

·        Asia-Pacific (China, India, Japan, Rest of Asia-Pacific)

·        Rest of the World

North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the growing end-user industries such as e-commerce, paper & pulp, bleaches, dyes, etc. In addition, the region faces major strict regulations regarding uranium mining coupled with the growing demand for leather tanning leads to the growth of sodium chlorate in the region. Furthermore, sodium chlorate is highly preferred in premium leather products applications such as jackets, upholstery, and shoes which is further escalating the growth of the market. In North America, U.S. leads as a major producer of sodium chlorate which is expected to become the top producer across the globe in the coming years.

The major players targeting the market include

·        Arkema

·        Nouryon

·        ERCO Worldwide

·        Kemira

·        Shree Chlorates

·        Tronox Holdings plc

·        ChemTrade

·        American Elements

·        Mil-Spec Industries Corporation

·        GFS Chemicals, Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the sodium chlorate market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the sodium chlorate market?

• Which factors are influencing the sodium chlorate market over the forecast period?

• What are the global challenges, threats, and risks in the sodium chlorate market?

• Which factors are propelling and restraining the sodium chlorate market?

• What are the demanding global regions of the sodium chlorate market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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