Sodium Chlorate Market Surges, Projected to Reach US$ 6.88 Billion by 2029
The global Sodium Chlorate Market witnessed substantial growth in 2022, reaching a valuation of US$ 4.76 billion and is poised to soar at a CAGR of 5.4% through 2029, according to the latest industry report. This surge is attributed to the escalating demand for sodium chlorate in various industries, particularly in the pulp and paper sector.
The study also includes information on the major players in the global Sodium Chlorate Market, such as company biographies, product images and specifications, production capacity, pricing, cost, and contact information. This study examines the entire Sodium Chlorate Market Size from a global perspective and makes predictions about future trends based on past data.
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Sodium Chlorate Market Scope:
Aftermarket engineering undertook thorough primary research that included data triangulation, market breakdown, estimates, computations of market statistics, and calculations of market size in order to gather information, validate important figures, and verify the findings. To calculate percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. Based on the stated market size’s acceptance or usage in the relevant region, the global markets and their sub-segments are segmented by country. Numerous market and industry-related topics are highlighted in the research. New product launches, business expansions, partnerships, joint ventures, and acquisitions are a few examples of marketing techniques. Additionally, the key components of the market research that clearly focus on the industry landscape have all been taken into consideration when structuring this study.
The Sodium Chlorate Market is thriving on the diverse applications of sodium chlorate, notably in the production of chlorine dioxide for bleaching chemical pulp. The growing demand for high-quality tissue paper, packaging paper, and craft paper is a key driver, creating significant growth opportunities globally. Additionally, the adoption of chlorine-free techniques in wood pulp bleaching further amplifies the market demand.
Despite challenges such as low-income margins and the presence of substitutes, the market is witnessing a boost due to the cost-effectiveness and ease of storage associated with sodium chlorate. The application of sodium chlorate in dyes, leather tanning, and other industries is contributing to its global adoption.
The market for sodium chlorate is expected to develop in the approaching years due to the growing concern about hygienic practises among the expanding population and the use of tissue. Over the next seven years, the demand for sodium chlorate is anticipated to be positively impacted by the increasing need for the aforementioned application. The government’s trade policy for environmentally friendly manufacturing practises and products is another factor driving the sodium chromate market’s expansion.
Pulp and Paper
According to application, the pulp and paper application segment is expected to grow steadily. By the end of 2029, the same segment is expected to have acquired an additional 80.4% of the market. Demand for bleached cartons and paper packaging is rising quickly. The Asia Pacific region’s industry contributes significantly to developing economies, even though the region’s need for sodium chlorate is not as great as it once was.
The industry placed a strong emphasis on alliances, purchases, and collaborations as inorganic growth tactics. The Sodium Chlorate Market’s potential for future rapid growth means that industry participants should benefit from it. The businesses listed below make up the global Sodium Chlorate Market.
1. ERCO Worldwide
3. Kemira Oyj
4. American Elements
6. Mil-Spec Industries
7. B. Enterprises
8. Shree Chlorates
11. Chemfab Alkalis Limited
12. Shree Chlorates
13. A. B. Enterprises
14. H. K. Group
16. ALDON Corporation
17. GFS Chemicals
18. Spectrum chemicals
19. Annexe Chem
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After examining the political, economic, social, and technological aspects influencing the Sodium Chlorate Market in each of these regions, the report also includes extensive PESTLE assessments for each of the five regions—North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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