New York, USA, Aug. 18, 2021 (GLOBE NEWSWIRE) -- As per a latest report published by Research Dive, the global sodium chlorite market is estimated to register a revenue of $282,911.4 thousand by 2027, at a CAGR of 4.4% during the forecast period from 2020 to 2027, increasing from $201,250.0 thousand in 2019. The all-inclusive report provides a brief summary of the current market scenario comprising major aspects of the market such as growth factors, restraints, challenges, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
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Market Dynamics
As per the analysts of Research Dive, the growing usage of sodium chlorite in various end use industries such as food & beverages, oil & gas, and other industrial sectors for various purpose such as disinfection, bleaching, and others are the major factors estimated to fuel the growth of the global sodium chlorite market over the forecast period. Besides, the urgency of treating wastewater due to the increasing demand for drinking water across the globe is predicted to create more growth opportunities in the estimated period. However, the stringent environmental rules & regulation for the usage of sodium chlorite may restrict the market growth in the coming years.
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Impact of COVID-19 on the Industry
This is majorly owing to the increasing usage of sodium chlorite in healthcare institutions for the treatment of COVID-19 patients. These patients use sodium chlorite solution for gargling and there are many other uses. Thus, the demand for sodium chlorite is anticipated to grow and have a significant impact on the global market during the pandemic period.
Disinfectant Sub-segment to be Most Lucrative
By application, the disinfectant sub-segment valued for $120,936.2 thousand in 2019 and is estimated to witness significant growth during the forecast period. This is mainly because sodium chlorite is used as a disinfectant in hospitals to reduce the spread of the hospital-acquired infection (HAI). In addition, an increase in number of HAIs around the world is projected to boost the sub-segment’s growth by 2027.
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Water Treatment Sub-segment to Hold the Largest Market Share
By end use industry, the water treatment sub-segment valued for $101,789.5 thousand in 2019 and is estimated to account for majority of market share over the forecast period. The significant growth of the sub-segment can be attributed to the growing demand for water due to rise in population across the globes. Besides, the government bodies are greatly focusing on treating wastewater which is expected to propel the sub-segment’s growth in the analysis period.
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Asia Pacific Region to be Most Lucrative
By region, the Asia Pacific market for sodium chlorite valued for $74,141.6 thousand in 2019 and is estimated to witness robust growth by rising at a CAGR of 4.8% in the projected timeframe. Increasing demand for cleaning the wastewater and the presence of large number of sodium chlorite producers in the region are factors predicted to boost the regional market growth by 2027. In addition, the rapid growth in textile & clothing manufacturing across the region is another factor estimated to foster the Asia Pacific market growth in the upcoming years.
Prominent Market Players
The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global sodium chlorite industry are:
• 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 implementing numerous strategies to gain a leading position in the global industry.
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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