Sodium Chlorate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Sodium Chlorate Market: Snapshot
The Paper and pulp industry has the largest contribution in the sodium chlorate market. This industry uses it for on-site chlorine dioxide generation. The solutions from the sodium chlorate market serve as primary bleaching agents in the process named elemental chlorine-free chemical procedure.
The emerging economies around the world are extensively applying these solutions from the sodium chlorate market. Sodium chlorate is commonly used because of its oxidizing properties. This reason enables various applications of sodium chlorate such as dyes manufacturing and finishing and tanning leather. These factors further boost growth in the sodium chlorate market. Such a bolstering demand among different industry verticals improves growth opportunities in the sodium chlorate market.
The sodium chlorate serves as phytotoxic to different green plants. So, it is now applied as a non-selective herbicide for growth control in different plants. St John’s wort, Ragwort, bamboo, johnsongrass, creeping thistle, and morning glory are some common plants whose growth is controlled by solutions from the sodium chlorate market. The sodium chlorate market solutions play a vital role in controlling vegetation on fence ways, roadsides, etc.
Water and sodium chloride are primary feedstocks that are required in the sodium chlorate market. The key to this demand is the application of these feedstocks to manufacture sodium chlorate. An ample supply of these feedstocks further drives growth in the sodium chlorate market.
These materials (water and sodium chloride) are economical and easily accessible. It makes sodium chlorate affordable and helps the sodium chlorate market to grow rapidly. Further, easy storage of these materials also bolsters growth in the sodium chlorate market.
The sudden arrival of the COVD-19 pandemic has adversely impacted the entire market scenario. Social distancing has curbed the manufacturing units and dwindled the sales in the industries. The sodium chlorate market has also been the victim of it. Even after the removal of lockdown, it will take some time for growth in the sodium chlorate market.
Global Sodium Chlorate Market: Overview
Sodium chlorate is utilized for the making of chlorine dioxide, which goes about as a bleaching agent in the pulp and paper sector. Sodium chlorate is an odorless, white/grayish powder. Sodium chlorate is almost completely dissolvable in water. Sodium chlorate in its unadulterated structure is inflammable. However, during its decay, it discharges oxygen that subsequently goes about as a stimulating agent in presence of combustible substances. Sodium chlorate is utilized for the extraction of vanadium and uranium and vanadium in the mining business.
Global Sodium Chlorate Market: Novel Development
Some of the most prominent competitors operating in the competitive landscape of global sodium chlorate market include –
Global Sodium Chlorate Market Dynamics
Rising Demand in Pulp and Paper Industry to Support Market Growth
The global sodium chlorate market is significantly determined by the development in the paper and mash industry. As around 80-90% of the general sodium chlorate utilization is for the assembling of chlorine dioxide, which is utilized in the paper and mash industry, the interest for sodium chlorate depends essentially on the development of paper and mash industry.
Availability of Other Options to Hinder Growth
One of the main considerations limiting the development of the global sodium chlorate market is the accessibility of various options, for example, hydrogen peroxide and ozone, which can be utilized for dyeing of pulp.
In addition, with the expanding prevalence of e-media, there has been a lull in the utilization of papers for the paper distributing and comparable parts. Move in purchaser inclinations is seen to affect the accessibility and cost of items. The previously mentioned factors are foreseen to block the market development.
Asia Pacific to Lead Global Sodium Chlorate Market
The global sodium chlorate market is estimated to be forecast positively in the forthcoming years displaying moderate development. Asia pacific holds maximum share of the global sodium chlorate market and is anticipated to stay prevailing globally all through the upcoming years because of the extensive base of pulp and paper sector in the mentioned region. Additionally, China is a main buyer of sodium chlorate. Alongside pulp and paper, China has a huge base for the utilization of sodium chlorate in specialty applications, for example, firecrackers.
Regions, for example, Latin America has likewise shown noteworthy development in the pulp and paper industry, henceforth, there is a generous demand for sodium chlorate in the mentioned region. The middle East and Africa and Japan are anticipated to hold comparatively less share of the global sodium chlorate market.
The areas, for example, Europe and North America are relied upon to observe slow development of global sodium chlorate market in coming years.
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