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Sodium Hypochlorite Is Fastest Growing Segment Fueling The Growth Of Sodium Hypochlorite Market

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Mia Yates
Sodium Hypochlorite Is Fastest Growing Segment Fueling The Growth Of Sodium Hypochlorite Market

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 is commonly used as a disinfectant and bleaching agent. It finds wide application for water treatment in industries like food processing, healthcare, and agriculture. The compound has strong oxidation and disinfection properties which help maintain hygiene and destroy pathogens.

Market key trends:

One of the key trends driving the global sodium hypochlorite market is rising concerns over water pollution and outbreak of waterborne diseases. Governments across nations are investing aggressively on water treatment infrastructure which is propelling demand for antimicrobial and disinfecting agents like sodium hypochlorite. Additionally, expanding food processing and pharmaceutical industries are also majorly contributing to market growth as these sectors require large quantities of treated water and have stringent hygiene regulations. Furthermore, growing agriculture sector in developing regions has augmented the need for effective sanitization of farms, greenhouses, and equipment which is boosting sales of sodium hypochlorite.


Segment Analysis

The global sodium hypochlorite market is dominated by the industrial and household sub-segments. The industrial sub-segment accounted for over 60% market share in 2023 owing to the wide usage of sodium hypochlorite in industries like oil and gas, pharmaceuticals, food and beverages for water treatment and disinfection purposes. The household sub-segment is expected to witness lucrative growth during the forecast period due to increasing adoption of sodium hypochlorite for cleaning and disinfecting households.

Key Takeaways

The Global Sodium Hypochlorite Market Size was valued at US$ 67.69 Mn in 2023 and is expected to grow at a CAGR of 28% over the forecast period.

Regional Analysis

Asia Pacific dominated the global market in 2023 and is expected to maintain its leading position during the forecast period. This can be attributed to swift industrialization and demand from domestic cleaning industry in China and India. North America is expected to emerge as the fastest growing market owing to rising consumer awareness about hygiene.

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 Aditya Birla captured over 35% of the global market share in 2023 owing to their diversified product portfolio and extensive global distribution network.

Read More: https://www.ukwebwire.com/sodium-hypochlorite-market-size-share-and-growth-forecast-2023-2023/

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