Sodium Chlorate Market size is estimated to cross USD 6.2 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of sodium chlorate was USD 3.3 Billion. The growth of the market can be propelled by the growing paper and pulp industries across the globe. Sodium chlorate is often employed in the production of chlorine dioxide, which is utilized as a bleaching ingredient in the production of bleached pulp. It is estimated that the pulp and paper industry use more than 89% of all sodium chlorate generated globally to manufacture chlorine dioxide, a highly essential ingredient utilized in elemental chlorine-free pulp bleaching.
With the growing demand from end-users, the sodium chlorate market for chemical products is expected to grow in the future. 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, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018.
Growth Drivers
Challenges
Sodium chlorate was previously primarily used as a pesticide, to destroy weeds and unwanted foliage. Both persons and the surroundings are harmed by sodium chlorate. As a result, both the sale and the utilization of sodium chlorate in plant safeguards and pesticides are prohibited in the EU.
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~5% |
|
Base Year Market Size (2022) |
~ USD 3.3 Billion |
|
Forecast Year Market Size (2035) |
~ USD 6.2 Billion |
|
Regional Scope |
|
Application (Bleaching Agents, Herbicide, Oxidizing Agents
The bleaching agents segment in the sodium chlorate market is expected to gain a notable share of about 41% in the year 2035. Sodium chlorate (NaClO3) is an industrial salt produced by electrolyzing sodium chloride (NaCl). It is commonly used in the elemental chlorine-free (ECF) chemical bleaching process. Based on the EU Chemical Agency, the ECF process is used to create 93% of the pulp in the European Union that has experienced chemical bleaching. The compound is widely used in the chemical intermediate in the production of explosives and plant protection products.
Form (Crystalline, Solution)
Sodium chlorate market from the crystalline segment is estimated to gain the largest share of about 35% in the year 2035. The crystalline sodium chlorate segment is expected to rise owing to increased use in weed management and the manufacturing of sodium perchlorate, potassium chlorate, and sodium chlorite. Considering the greater expense of manufacturing, the crystalline form has been determined to be relatively expensive when contrasted to the amorphous.
Our in-depth analysis of the global sodium chlorate market includes the following segments:
|
Form
|
|
|
Application
|
|
|
End User
|
|
North American Market Statistics
The sodium chlorate market in North America is anticipated to occupy the largest share of 31 % over the forecast period. The sodium chlorate industry in North America, driven by Canada, is predicted to grow significantly through 2035. The increase in e-commerce activity such as online retail has increased the demand for cardboard packaging throughout the region. In 2021, Canada's paper and paperboard manufacturing capacity was 9.4 million metric tons (air dry). Canada's paper and cardboard manufacturing output is expected to fall to 9.3 million metric tons by 2026. Furthermore, prominent firms are continually concentrating on relentless efforts for production improvements and collaboration-oriented approaches such as acquisitions and collaborations, to expand their product offering and increase their foothold in this region's fiercely competitive landscape.
APAC Market Analysis
The sodium chlorate market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of rapidly growing industrialization in the region. Furthermore, the increased demand for improved engine designs and the introduction of new technologies have resulted in considerable advancements in the automobile business, mostly in industrialized countries. In addition, the strong presence of major market players is also expected to propel the region’s market growth in the near future.
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?