*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Sodium Chlorate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
The global sodium chlorate market reached a value of US$ 2.83 Billion in 2020. Sodium chlorate (NaClO3) is an inorganic chemical compound manufactured by the electrolysis of brine (NaCl). A powerful oxidizing agent, sodium chlorate is an odorless, pale-yellow crystalline solid and readily dissolves in water. It is inflammable in nature in pure form and acts as an extreme combustion accelerant in the presence of flammable materials during decomposition. Currently, sodium chlorate is widely used in the preparation of chlorine dioxide which is employed as a bleaching agent in the manufacturing of bleached pulp. Looking forward, IMARC Group expects the global sodium chlorate market to exhibit moderate growth during the next five years.
Global Sodium Chlorate Market Drivers:
The paper and pulp industry is one of the largest markets for sodium chlorate where it is used for on-site generation of chlorine dioxide. It is the key bleaching agent for elemental chlorine free (ECF) chemical pulping process and is extensively used in emerging markets like India and China.
On account of its oxidizing properties, sodium chlorate is increasingly being used for several applications such as tanning and finishing leather, and manufacturing of dyes. The mounting demand for sodium chlorate in these industries is expected to bolster the growth of the market in the upcoming years.
As sodium chlorate is phytotoxic to all green plants, it is now being utilized as a non-selective herbicide to control the growth of a variety of plants including morning glory, creeping thistle, johnsongrass, bamboo, Ragwort, and St John's wort. It is mainly used for vegetation control on roadsides, fenceways, etc. and on non-crop land for spot treatment.
Sodium chloride and water are the two major feedstocks required for the manufacturing of sodium chlorate. These raw materials are low in cost and abundant in nature, due to which sodium chlorate is affordable. This, coupled with ease of storage, makes it ideal for a variety of applications.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sodium chlorate market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, form, and application.
Breakup by Form:
On the basis of type, the sodium chlorate market is bifurcated as crystalline and solution. Amongst these, crystalline sodium chlorate accounts for the majority of the market share as it is employed in a range of industries like bleach and explosives.
Breakup by Application:
Based on application, the pulp and bleaching industry represents the largest segment of the sodium chlorate market, owing to its growing demand in the textile industry. Other application segments include chlorates of other metals, leather tanning, dyes and others.
On a geographical front, Canada enjoys the leading position in the global sodium chlorate market as the country has the largest pulp and paper industry which is a mainstay of the country’s economy. Some of the other major regions include the United States, China, Finland and Brazil.
The market is fragmented in nature with the presence of a large number of international and regional manufacturers who compete in terms of prices and quality. The major players are trying to increase their presence in new markets by creating alliances or acquiring regional or other small players. Some of the leading players operating in the market are:
China First Chemical Holdings Limited
The report provides a comprehensive insight into the global sodium chlorate market including its market breakup by region, market breakup by end-use, SWOT analysis, Porter’s five forces analysis, value chain analysis, import and export trends, key players and market outlook. The report also gives an in-sight into the manufacturing process of sodium chlorate covering key success and risk factors for manufacturers, detailed process flow, the chemical reactions involved, raw materials requirements, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the sodium chlorate industry in any manner.
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.
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.