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CHEMICALS AND ADVANCED MATERIALS

Sodium Hypophosphite Market Segmentation By Function (Reducing Agents, Catalysts & Stabilizers, Chemical Intermediates, and Others); By Application (Electroplating, Water Treatment, Chemicals & Pharmaceuticals, and Others); By Grade (Electrical, Industrial, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Sodium Hypophosphite 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

June 3, 2020: Arkema, a specialty chemicals and advanced materials company, announced a long-term and innovative partnership with Nutrien Ltd, a huge integrated agricultural company, for a long-term supply agreement of anhydrous hydrogen fluoride (AHF) for Arkema’s Calvert City (KY) site. About half of the supply will be used for the creation of high added value polymers and fluoro-derivatives, and the rest for the manufacture of low-GWP (global warming potential) fluoro gases.

June 9, 2020: Solvay, a Belgian chemical company, is providing face masks to employees and customers across Latin America, as it has become the new epicenter and is facing a shortage of face masks. Solvay is striving hard to support the region hit hard by the coronavirus pandemic.

Sodium Hypophosphite Market Overview

Sodium hypophosphite is the sodium salt of hypophosphorous acid and is commonly known as the monohydrate. It is a white crystalline solid that is soluble in water, alcohol, and glycerine, though, it is insoluble in organic solvents. The chemical formula of sodium hypophosphite is H4NaO3P, it has numerous identified end uses which makes it necessary in various sectors particularly the industrial and chemical sectors.

Market Size and Forecast

The sodium hypophosphite market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by function, application, grade, and region. Among product grades, the electrical segment is expected to have a vast demand during the forecast period. Sodium hypophosphite in the form of its electrical grade is utilized for electroless nickel plating, which is increasing boundless adoption in the automotive and electronics sectors. These businesses are growing at a high pace in the Asia Pacific region as a result of urbanization, creating growth opportunities for sodium hypophosphite manufacturers in the upcoming years. By function, the reducing agent segment is anticipated to dominate the sodium hypophosphite market over the forecast period. Sodium hypophosphite works as a reducing agent in the electroless nickel plating applications, which finds its utilization in the electronics and automotive industry. Further, it also finds usage as a reducing agent in water treatments, to decrease the metal ion content in industrial waste before being discharged into water bodies.

Growth Drivers

Strong demand from various end-use industries

Industrially, sodium hypophosphite is used as a reducing agent owing to which it is widely used in the electroplating application. In the process of nickel electroplating, particularly as reducing agents, sodium hypophosphite forms a chelate compound with nickel and helps to regulate the pH level that in turn resulted in improved surface properties and enhanced smoothness of the finished product.

Furthermore, increasing the use of sodium hypophosphite as a reducing agent in electroplating of non-metallic materials such as plastics, glass, ceramics, and quartz, among others, provides the impetus for the growth of the market. Over the recent past, with the expansion of electroplating applications, the market demand for electroplating applications is increasing in numerous industries such as automotive, aerospace, plastics, and ceramics, among others that in turn boost the overall demand for sodium hypophosphite market.

Additionally, sodium hypophosphite further finds application in the chemical and polymer industry, as a catalyst in the polymerization reaction and as a chemical intermediate in the production of hypophosphorous acid, diazo derivatives, and other organic compounds. Thus, with substantial growth of the chemical, polymer, and plastic industry across the world, sodium hypophosphite market is expected to flourish in the future years.CLICK TO DOWNLOAD SAMPLE REPORT

Rising demand for sodium hypophosphite as a reducing agent in water treatment facilities

Metals are one of the utmost common contaminants in wastewater. Individuals can be exposed to these metals, which can cause health concerns such as dysfunction of the kidney, liver, reproduction system, and central nervous system. Hence, the release of such wastewater needs to be controlled and monitored. Sodium hypophosphite can prove to be an effective reducing agent for the retrieval of Ni, Cu, and Fe. Thus, sodium hypophosphite holds high-growth predictions in the coming years in water treatment applications.

Restraints

The current outbreak of COVID 19 has come up as a major hindrance as socio-economic conditions of many countries have been disrupted, the supply chain has been at a halt, prices in the market are fluctuating, and export-import have been affected. All these can come up as major constraints for the overall market growth.

Market Segmentation

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

By Function

  • Reducing Agents
  • Catalysts & Stabilizers
  • Chemical Intermediates
  • Others

By Application

  • Electroplating
  • Water Treatment
  • Chemicals & Pharmaceuticals
  • Others

By Grade

  • Electrical
  • Industrial
  • Others

By Region

Geographically, the sodium hypophosphite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

In terms of production and consumption, the global sodium hypophosphite market is predominantly dominated by the Asia-Pacific region on account of factors such as the budding interest of foreign investors in developing nations such as China, India, and Indonesia for considerable penetration in the Asia Pacific market, the growth of polymer, plastics, and chemicals industry in the region, rising automotive, and aviation industry coupled with the growing demand for metal coated products from this industry in the region. Also, less production cost, low labor cost, and lenient rules in these regions are motivating manufacturers to multiply their manufacturing units in these regions, which is likely to drive the demand for sodium hypophosphite.

North America is projected to hold the second-highest share in the market, in terms of consumption owing to the growing demand for synthesis of several chemicals, polymer compound, diazo-derivative, and fire retardants, among other chemicals, which in turn is expected to drive the demand for Sodium Hypophosphite market over the forecast period.

Europe stands as the third-largest market for sodium hypophosphite owing to the high demand for electroplating applications. However, stringent government regulations over the manufacturing industry might hinder the market demand for sodium hypophosphite within the European region.

The Middle East and Latin American sodium hypophosphite markets might experience steady demand and are anticipated to record steady growth over the forecast period.

The sodium hypophosphite market is further classified based on region as follows:

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

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