Sodium Hypochlorite Market Top Key Players Review, Business Opportunities, Demand and Global Analysis by Forecast to 2028
The global sodium hypochlorite market size is projected to reach USD 385.6 million by 2028. The constant disinfection of malls, public complexes, outer areas, office spaces, and public toilets is expected to affect growth positively. Several companies are also nowadays striving to produce unadulterated and premium-quality products to maintain hygiene of employees. In March 2021, for instance, QYK Brands LLC received approval from the California Department of Pesticide Regulations (CDPR) for its Dr. J's Surface Disinfectant Wipes. It claims to kill pathogens, such as SARS-CoV-2. Fortune Business Insights™ presented this information in a new study, titled, “Sodium Hypochlorite Market, 2021-2028.” As per the study, the market stood at USD 261.7 million in 2020. It is set to exhibit a CAGR of 5.0% during the forecast period between” 2021-2028.
Thyssenkrupp Introduces Portable Sodium Hypochlorite Disinfection Trailer Unit
In September 2020, thyssenkrupp Industrial Solutions South Africa (tkISSA) launched its sodium hypochlorite disinfection trailer unit to help spray disinfectant in COVID-19 hotspot zones. It is portable and custom-designed. As per the World Health Organization (WHO), the chemical is effective in disinfecting surfaces infected with coronavirus. Hence, the company decided to make this cutting-edge trailer unit.
High Demand for Disinfectants amid COVID-19 Pandemic to Affect Growth Positively
The COVID-19 pandemic has rapidly expanded the consumer goods industry backed by the rising concerns of hygiene, health, and cleanliness. The Household and Commercial Products Association (HCPA), for instance, represents companies that sell and make around USD 180 billion annually of products used for disinfecting, maintaining, protecting, and cleaning commercial and residential environments. Coupled with this, the rising demand for hand sanitizers is likely to aid growth of the market for liquid bleach amid the pandemic.
The research report of this industry includes an accurate study of various regions and countries. It was created by our analysts after studying and observing numerous factors that determine regional growth, such as political, technological, social, economic, and environmental status of the region. The competitive landscape section was developed to aid you better understand the partnerships that key players are focusing on to compete globally.
Drivers & Restraints-
Increasing Trend of Bleaching Clothes at Home to Enhance Fashion Sense will Aid Growth
The rising trend of home bleaching clothes to improve one’s fashion sense and enhance the outer appearance would augment the sodium hypochlorite market growth in the near future. Coupled with this, the ongoing COVID-19 pandemic has increased the need for disinfecting surgical instruments, hard surfaces, and wipes to prevent transmission. However, fumes produced by sodium hypochlorite can damage lungs and cause gas poisoning, thereby limiting its demand.
Browse Complete Report Summary @ https://www.fortunebusinessinsights.com/sodium-hypochlorite-market-105064
Water Treatment Segment Dominated in 2020 Owing to Surging Demand for Drinking Water
By application, the market for NaOCl is fragmented into water treatment, paper industry, textile industry, medical, and others. Amongst these, the water treatment segment remained in the dominant position in 2020 stoked by the rising demand for clean drinking water in malls, residential structures, offices, and homes. Also, the urgent need for clean water in bathing areas, swimming pools, and ponds would accelerate growth. The paper industry segment, on the other hand, held 18.8% and 19.3% in terms of the market share globally and in China, respectively. The product is majorly used as a bleaching agent in this industry.
Asia Pacific to Lead Fueled by Rising Demand for Treated Water in China
• Asia Pacific: The region stood at USD 109.8 million in 2020 in terms of revenue and is anticipated to lead the market throughout the forthcoming years. The easy availability of raw materials and cost-efficient labor would drive growth. Also, the high demand for treated water, especially in China would spur growth.
• North America: It is estimated to grow significantly in the near future because of the high demand for sodium hypochlorite from the medical industry. This would mainly occur because of the need to disinfect surgical equipment, hand surfaces, and beds & tables.
• Europe: The region would grow substantially in the upcoming years. This growth is attributable to the rising usage of the product in diluted bleaches, surface cleaners, and detergents. Additionally, the rapid economic development in France, Germany, and the U.K. is expected to aid growth
Key Players Aim to Gain Competitive Edge by Launching Innovative Products
The market houses several companies that are rapidly adopting strategies, such as capacity expansions, new product development, acquisitions, and portfolio improvement to compete with their rivals. ICL, for instance, is one of the leading producers of the chemical. Similarly, Hawkins provides bleach and has numerous facilities for distribution.
A list of renowned sodium hypochlorite manufacturers presents in the global market:
• 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