Sodium chlorite market is projected to reach $282,911.4 thousand by 2027 growing at a CAGR of 4.4% in the estimated timeframe.
Sodium chlorite is a white crystalline solid mostly used in purification of water, bleaching pulp, wood, and paper textile products. Sodium chlorite is an inorganic sodium salt in which chlorite has the role of an oxidizing agent. Sodium chlorite is also used as an additive in many products like toothpaste and mouthwash. According to U.S. Food and Drug Administration, acidified sodium chlorite is an anti-microbial agent which is non-toxic.
The novel coronavirus is predicted to have had a positive impact on the global sodium chlorite market at the time of pandemic. The coronavirus lockdown has had a desirable impact on the global sodium chlorite market growth in 2020, Rise in the use of sodium chlorite in medical for multiple used is predicted to boost the growth of the market. Moreover, stringent environmental regulation for the use of the sodium chlorite is predicted to hinder the market growth in the estimated period.
Increasing demand of sodium chlorite by chemical industry is predicted to drive the sodium chlorite market in the estimated period. Sodium chlorite is considered as one of the most essential ingredient in various industrial operations which includes, detergent and the chemical processing industry. For instance, in textile sodium chlorite is a highly effective bleaching agent for the following textile fibers such as cotton bast fibers, flax, hemp, jute and many more. Increasing use of sodium chlorite in majority of the chemical industry for producing of finished product is predicted to drive the market in the estimated period. Moreover, increasing demand of sodium chlorite in many other industries is also predicted to boost the market in the estimated period.
Environmental rules and regulation with respect to the use sodium chlorite is predicted to be the biggest restraints for the global sodium chlorite market in the estimated period. . It has been foreseen that chlorite is relatively gentle but as the concentrations rises it impacts short-term and long-term effects to the watershed including impacts to water and soil quality, as well as wildlife and habitat health. Adverse impact on the aquatic as well as in wildlife in surface due to excessive use of sodium chlorite is predicted to hamper the market in the estimated period.
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Bleaching agent application sub-segment is predicted to have the highest growth rate in the forecast period. The bleaching agent application sub-segment is predicted to generate a revenue of $82,241.9 thousand by 2027, with a CAGR of 4.7% in the estimated time frame. Rise in the requirement of treating wastewater and increasing demand of sodium chlorite for paper and pulp industry for operational processes are predicted to boost the bleaching agent application sub-segment in the estimated period.
Textile end use industry is predicted to have the maximum growth rate in the projected timeline. The textile end use industry is predicted to generate a revenue of $36,415.9 thousand by 2027, growing at a CAGR of 5.4% in the projected period. In the textile industry, sodium chlorite solution is used in the processing of fabrics and materials. Increasing demand of clothes by users across the globe is predicted to drive the textile end use industry in the projected timeframe.
Asia-Pacific region market is predicted to have the highest growth rate in the forecast period. The Asia-Pacific region market is projected to reach $107,789.2 thousand by 2027, growing at a CAGR of 4.8% in the estimated time frame. Increasing demand of clean drinking water and rise in the demand of sodium chlorite in textile manufacturing due to the rise in the population is predicted to be the major driving factor for the region market in the estimated period. For instance, according to the International Labour Organization, China is the world’s largest exporter of textile and clothing, accounting for more than 30% of total global export in 2016. Favorable government policies for SMEs in the region is expected to provide impetus to the use of sodium chlorite in the coming years.
Key Market Players
- OSAKA SODA
- Carlit Holdings Co., Ltd.
- Shandong Gaomi Gaoyuan Chemical Industry Co.,Ltd.
- Otsuka Chemical Co.,Ltd
- Dongying Shengya Chemical Co. Ltd.
- Yancheng Huaou Industry Group Co., Ltd
- Fengchen Group Co. Ltd
- ERCO Worldwide
- Ercros SA
- Occidental petroleum corporation
Porter’s Five Forces Analysis for Sodium Chlorite Market:
- Bargaining Power of Suppliers: There are not multiple suppliers in the market. Limited number of suppliers are present in the market.
The bargaining power of suppliers is Moderate.
- Bargaining Power of Consumers: In this market, the concentration of buyers is Medium.
The bargaining power of consumers is Moderate.
- The threat of Substitutes: This market has less number of substitute and availability of these product is also very less due to which switching costs for clients is low.
The threat of substitutes is Low.
- The threat of Substitutes: This market has very less number of products moreover availability of product is also very less due to which switching costs for clients is low.
The threat of substitutes is Low.
- Competitive Rivalry in the Market: The sodium chlorite market has the numerous small, medium and large, scale players.
The competitive rivalry in the industry is Moderate.
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