Covid-19 Impact on Sodium Hypochlorite Market Set for Rapid Growth and Expansion during 2022-28
Market Insights
The sodium hypochlorite market was estimated at USD 222.18 million in 2021 and is likely to grow at a CAGR of 5.4% during 2022-2028 to reach USD 322.12 million in 2028.
Report Features
The report provides critical insights into the market dynamics that enables strategic decision making that is critical to the growth of the existing players as well as those planning to enter the market. This report offers an improvised approach to consolidate the growth decisions by covering the following features –
- Market structure - as it reflects the value chain of different commodities in the market.
- Drivers and Constraints - as both can affect any element of the marketing mix -- product, budget, and place, etc.
- Market Forecast - a part of the decision-making process. This helps users with facts regarding projected sales dimensions, costs, market shares, and other areas of planning.
- Competitive landscape and dynamics: The user can determine the strengths and gaps. The information mentioned here will work towards enhancing the brand's strategy.
- Growth strategies - allowing a small business to survive unexpected changes, and grow into a bigger entity, and gain a greater competitive advantage.
Market Highlights
The growth of the sodium hypochlorite market is primarily driven by:
- The increase in consumption of sanitization products,
- The growing water treatment chemical market.
Segment Analysis
Based on the function type, the market is segmented as oxidizing, bleaching, odor removal, disinfection, and others. The disinfection segment is estimated to account for the major share of the market during the forecast period. Factors such as the growing surface disinfectant market, the rising need for enhanced healthcare services, and the increasing spending power of consumers on personal hygiene are further expected to fuel the industry's growth during the forecast period.
Based on the application type, the market is segmented as agriculture, chemical, water treatment, textile, household, and others. Water treatment is estimated to be the largest application type in the market during the forecast period. Many countries are facing the issue of water scarcity due to which governments are taking various initiatives to reuse the wastewater from municipalities as well as industry. This factor is also helping to maintain an ecological balance, fueling the overall industry growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period owing to the increasing consumer awareness regarding health and hygiene and growing demand for wastewater treatment in the region. India, China, Japan, and South Korea are the major contributors to fueling the growth of the regional market. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
Critical Questions Answered in the Report
l What are the key trends in the Sodium Hypochlorite Market?
l How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
l What is the impact of COVID-19 on Sodium Hypochlorite Market?
l What are the key strategies adopted by the major vendors to lead in the Sodium Hypochlorite Market?
l What is the market share of the top vendors?
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