In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The global sodium hypochlorite (bleach) market is estimated to grow with a notable CAGR during the forecast period, i.e., 2021-2029, owing to the prominent antimicrobial properties of the chemical compound and its low costs of production, along with the favorable government regulations regarding the use of sodium hypochlorite in water treatment, agriculture and other industrial applications. Rapid growth of the end-user industries such as chemical, agricultural and healthcare is expected to further boost the market growth. Moreover, owing to the increasing water pollution and the growing need for clean water supply in the urban areas, which is increasing the demand for water treatment and purification, is further expected to drive the growth of the market. According to a report by the World Health Organization (WHO), in underdeveloped countries, 22% of healthcare facilities have no access to water service, 21% of facilities have no sanitation service, and 22% of facilities have no waste management services. Additionally, this growth is backed by rising number of initiatives taken by governments of different countries to provide clean and safe drinking water. In the other statistics published by the WHO, 785 million people lack the availability of basic drinking-water.
The global sodium hypochlorite market is segmented by function, end-user industry, and by distribution channel. On the basis of function, the market is further segmented into water disinfection, oxidizing, bleaching, odor removal, and others, out of which, the water disinfection segment is estimated to hold the leading share in the market during the forecast period owing to the increased utilization of sodium hypochlorite in water treatment plants for removing any germs and odor in the water, making it safe for use. The market is also bifurcated by distribution channel into online and offline channel. Among these segments, the offline segment is projected to generate significant revenue by the end of 2021 owing to the easy availability of the product in local stores, hyper markets, departmental stores and other offline businesses. However, the online segment is estimated to witness notable growth by the end of 2029, on the back of growing internet penetration. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of regional analysis, the global sodium hypochlorite 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 anticipated to garner maximum revenue in the forecast period, backed by the presence of leading market players in the region. Moreover, the rapid growth of end-user industries, such as, water treatment, and chemical industries in the region and unavailability of safe usable water for the mass population further increases the demand for sodium hypochlorite. In the East Asia and Pacific region, over 160 million people lack access to basic drinking water. Furthermore, the sodium hypochlorite market is predicted to grow owing to the rising government awareness and investment in better water management systems, especially in countries, such as, China, India and Japan.
Additionally, the market in the underdeveloped nations of the Middle East and Africa are estimated to witness notable surge in the demand for sodium hypochlorite during the forecast period, owing to the rising need for water purification backed by the absence of water management system and proper sanitization in the region.
The global sodium hypochlorite market is further classified on the basis of region as follows:
Our in-depth analysis of the global sodium hypochlorite market includes the following segments:
Ans: Increasing need for water treatment using sodium hypochlorite as a disinfectant is one of the key factors driving the market growth.
Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.
Ans: High reactive nature of chlorine is one of the major factors estimated to hamper the market growth.
Ans: The market in the Asia Pacific will provide the highest growth opportunities during the forecast period on the back of growing population and increasing demand for clean water and sanitization.
Ans: The major players in the market are Orica Limited, Olin Corporation, Nouryon Chemicals Holding B.V., Aditya Birla Management Corporation Pvt. Ltd., Lab Alley LLC, Hawkins, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by function, end-user, distribution channel, and by region.
Ans: The water disinfection segment is anticipated to hold the largest market size during the forecast period, owing to the demand for clean water for the growing population, and is estimated to grow at a notable CAGR over the forecast period.