New York, USA, June 07, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global sodium chlorite market is projected to register a revenue of $282,911.4 thousand at a CAGR of 4.4%, rising from $201,250.0 thousand in 2019, during the forecast period, 2019-2027. The comprehensive research gives a concise analysis of the current market landscape, including major features such as growth factors, challenges, restraints, and potential opportunities during the analysis period. The report also includes all market statistics, making it easier and more useful for beginners to grasp the market.
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Market Dynamics
Sodium chlorite is used for bleaching and disinfection in the food & beverage, oil & gas, and other industrial sectors. These end-use industries employ sodium chlorite in a variety of methods to ensure that the final product is properly used or preserved. For example, sodium chloride is used to disinfect containers used to manufacture and create food products in the food and beverage industry. Furthermore, a substantial amount of sodium chlorite solution is used in healthcare facilities for disinfection and the treatment of numerous disorders such as common cold, arthritis, and HIV. Because of its numerous advantages, sodium chlorite is widely employed in a variety of end-use sectors, and this is expected to be a major driving factor for the global sodium nitrate market over the forecast period.
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The limitation for the sodium chlorite market growth is expected to be strict environmental rules and regulations for the usage of sodium chlorite. On the contrary, treatment of wastewater all over the world is anticipated to create more growth opportunities for the global sodium chlorite market in the analysis period.
COVID-19 Impact
The global sodium chlorite market has benefited as a result of the coronavirus pandemic. The global sodium chlorite market is expected to grow dramatically during the COVID-19 pandemic, owing to an increase in the usage of sodium chlorite in healthcare institutions for the treatment of patients affected by coronavirus. These patients are given sodium chlorite solution for gargling, among other things. In addition, certain surfaces are disinfected using sodium chlorite. Due to these aforementioned factors, demand for sodium chlorite is expected to increase, resulting in a favorable impact on the global sodium chlorite market during the pandemic.
Segments of the Market
The report has divided the market into different segments based on application, end use, and regional analysis.
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Application: Disinfectant Sub-segment is Expected to be the Most Lucrative
The disinfectant sub-segment for the sodium chlorite market is predicted to experience the highest growth in the global market and it is anticipated to surge with a CAGR of 4.5% during the analysis period. It is critical to keep the areas sterilized to prevent the spread of hospital-acquired infections, and sodium chloride is employed as a disinfectant for this reason. Rising hospital-acquired infections (HAI) are expected to boost the growth of this sub-segment in the analysis period.
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End Use: Water Treatment Sub-segment is Predicted to be the Most Profitable
The global water treatment sub-segment is predicted to increase significantly in the global market, and surge at a CAGR of 4.7% in the projected timeframe. Government organizations are focused on treating wastewater as a result of rising water demand due to population growth, which is expected to drive the water treatment sub-segment in the upcoming years.
Region: Asia-Pacific is Expected to Dominate the Market
The Asia-Pacific sodium chlorite market accounted for the highest growth and it was valued at $74,141.6 thousand in 2019. Moreover, it is predicted to surge at a healthy CAGR of 4.8%, over the analysis period. The presence of a significant number of sodium chlorite producers, as well as declining groundwater levels, are expected to be the primary driving factors for the regional market in the forecast period.
Key Market Players and Strategies
• 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
These players are working on developing strategies such as product development, merger and acquisition, collaborations and partnerships to sustain the market growth.
In April 2021, Ercros announced that it has started a project to create a new sodium chlorite production line in its Sabiánigo factory (Huesca). This investment will nearly quadruple the present production capacity to 11,300 tonnes/year. The new plant is set to open in the third quarter of 2022.
The report also summarizes many important points including product portfolio, financial position of the market players, latest strategic developments, and SWOT analysis. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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