by The global Sodium Hypochlorite Market is estimated to be valued at US$ 67.69 Mn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sodium hypochlorite, commonly known as bleach, is an inorganic compound with the formula NaOCl. It has strong oxidizing properties and is commonly used as a disinfectant and a bleaching agent. Some key uses and advantages of sodium hypochlorite include water treatment for disinfection from pathogens in municipal drinking water and swimming pools. It is widely used as a household bleach for cleaning, disinfecting surfaces, and laundry sanitization. Sodium hypochlorite also finds applications in agriculture, healthcare, and food industry for disinfection purposes. The growing demand for disinfection and sanitization across various end-use industries on account of awareness regarding health hygiene is expected to drive the sodium hypochlorite market substantially over the forecast period.
Market Key Trends:
Rising Health Concerns due to Pandemics Driving Demand for Disinfection: The COVID-19 pandemic has intensified focus on health hygiene and sanitization to curb spread of diseases. This has created robust demand for sodium hypochlorite, which is commonly used as a disinfectant to clean, disinfect surfaces and eliminate germs in water supplies. Various government initiatives towards creating awareness regarding health and implementing policies pertaining to sanitization are favoring market growth.
Increasing Water Treatment Activities: Sodium hypochlorite finds widespread usage in purifying drinking water and wastewater treatment plants to eliminate waterborne pathogens. Growing concerns regarding water scarcity coupled with rapid urbanization is propelling water treatment projects globally. This is driving lucrative opportunities for sodium hypochlorite consumption in water treatment applications.
Rising Agricultural Production and Food Safety Norms: Post-harvest disinfection and treatment of agricultural commodities with sodium hypochlorite helps eliminate microorganisms and ensures longer shelf-life. Stringent food safety regulations along with massive agriculture output worldwide has augmented demand from the agriculture and food industry.
Porter’s Analysis
Threat of new entrants: Low capital requirement for manufacturing plants pose a threat of new entrants. However, established players have economies of scale which make it difficult for new players to gain foothold.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. They can negotiate on price depending on their purchase volumes.
Bargaining power of suppliers: Suppliers of raw materials like salt and chlorine have low bargaining power due to presence of many suppliers in the market.
Threat of new substitutes: Alternatives like chlorine dioxide, ozone and peracetic acid pose threat of substitution. However, sodium hypochlorite is cost effective for disinfection applications.
Competitive rivalry: Intense competition exists among the key players operating in the market. Players compete based on product quality, pricing and customer relationships.
Key Takeaways
The Global Sodium Hypochlorite Market Size is expected to witness high growth, exhibiting 28% CAGR over the forecast period, due to increasing demand from water treatment applications.
Regional analysis: Asia Pacific dominates the global sodium hypochlorite market and is expected to grow at fastest pace during the forecast period due to increasing population, industrial growth and rising awareness about water purification in the region. China accounts for over 35% of global sodium hypochlorite consumption.
Key players: Key players operating in the Sodium Hypochlorite market are BASF Chemicals, Odyssey Manufacturing Co., Aditya Birla, AGC group, Orica Watercare, Akzo Nobel, Shanghai Polymet Commodities Ltd., Sumitomo Chemicals, Solvay Chem, Sunbelt Chemical Corporations, Arkema Group, Surpress Chem, and Ineos. BASF Chemicals and Odyssey Manufacturing Co capture over 30% of global market share due to large scale production facilities and long customer relationships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
