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According to the estimates by IMARC Group, the global sodium chlorate market is expected to grow at a CAGR of 5.57% during 2022-2027.
At present, due to the rising environmental concerns, there is an increase in the demand for elemental chlorine-free (ECF) paper products. Moreover, sodium chlorate is gaining popularity as a non-selective herbicide for vegetation control on roadsides and fence ways.
Lockdowns announced by governments of several countries on account of the sudden spread of the coronavirus disease (COVID-19) have disrupted supply chains and halted the manufacturing units of various industry verticals. Consequently, the market is currently experiencing negative growth due to the pandemic.
The global sodium chlorate market reached a value of US$ 3.0 Billion in 2021.
Significant growth in the pulp and paper industry represents one of the key factors creating a positive outlook for the market as it is used as a bleaching agent in the production of elemental chlorine-free (ECF) paper products.
Based on the form, the market has been bifurcated into crystalline and solution sodium chlorate.
On the basis of the application, the market has been segregated into pulp and bleaching industry, chlorates of other metals, leather tanning, dyes and others.
Region-wise, the market has been segmented into the United States, Canada, China, Finland, Brazil and others.
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