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CHEMICALS AND ADVANCED MATERIALS

Sodium Chlorate Market Segmentation by Form (Crystalline, and Solution); by Application (Bleaching Agents, Herbicide, and Oxidizing Agents); and by End User (Paper & Pulp, Chemical, Mining, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Sodium Chlorate Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • May 2020- Kemira Oyj signed a long-term agreement with UPM-Kymmene Corp. to extend capacity for sodium chlorate and hydrogen peroxide production in Uruguay.

  • September 2019- Arkema announced price increase for its ranges of sodium chlorate and hydrogen peroxide in Europe and for the export markets.

Global Sodium Chlorate Market Highlights 2022 – 2030

The global sodium chlorate market is estimated to garner a large amount of revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed largely to the increasing usage of sodium chlorate for applications such as tanning and finishing leather, and manufacturing of dyes as a result of its excellent oxidizing properties. Along with this, high utilization of the product in paper & pulp industry as a bleaching agent for on-site generation of chlorine dioxide is also expected to drive market growth in the upcoming years. Furthermore, growing use of sodium chlorate for vegetation control on fence ways and roadsides is projected to augment the sales of the product in the near future.

Sodium Chlorate Market Graph

The market is segmented by application into bleaching agents, herbicide, and oxidizing agents, out of which, the bleaching agents segment is anticipated to hold the largest share in the global sodium chlorate market. This can be accounted primarily to the high usage of sodium chlorate as a bleaching agent in the paper industry for manufacturing high quality and environmentally friendly white paper products. Additionally, on the basis of form, the crystalline segment is assessed to acquire the largest share during the forecast period owing to the ability of crystalline form to provide well-defined surface area to improve the bleaching process. Apart from this, growing use of sodium chlorate crystals for making explosives is also predicted to boost the growth of the market segment in the coming years.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

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The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Sodium Chlorate Market Regional Synopsis

On the basis of geographical analysis, the global sodium chlorate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of increasing establishment of new paper industries, and rapidly growing industrialization in the region. Moreover, the market in North America is anticipated to occupy the largest share over the forecast period, which can be credited to the large presence of paper industry in Canada, and rising technological advancements to develop improved product. As per the data provided by the Statistics Canada agency, the manufacturing revenue of pulp, paper and paperboard mills industry in the country reached a value of USD 15.65 billion in 2018, up from USD 13.73 billion in the year 2017. In addition, strong presence of major market players is also expected to propel the region’s market growth in the near future.

Sodium Chlorate Market Share Graph

The global sodium chlorate market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global sodium chlorate market includes the following segments:

By Form

  • Crystalline
  • Solution

By Application

  • Bleaching Agents
  • Herbicide
  • Oxidizing Agents

By End User

  • Paper & Pulp
  • Chemical
  • Mining
  • Others

Growth Drivers

  • Increasing Use of Sodium Chlorate for Tanning and Finishing Leather, and Manufacturing of Dyes
  • High Utilization of the Product in Paper & Pulp Industry

Challenges

  • Stringent Regulations Associated with the Usage of Sodium Chlorate in Some Countries

Top Featured Companies Dominating the Market

  • Kemira Oyj
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • China First Chemical Holdings Limited
  • ERCO Worldwide
  • Arkema S.A.
  • Nouryon Chemicals Holding B.V.
  • Mil-Spec Industries Corporation
  • Chemtrade Electrochem Inc.
  • Chemfab Alkalis Limited
  • Chemtrade Logistics Inc.
  • Tronox Inc.

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