Rising Demand from Water Treatment Plants, Sodium Hypochlorite...

Rising Demand from Water Treatment Plants, Sodium Hypochlorite Market is Estimated to Witness High Growth

Posted 2023-12-27 11:24:50

Sodium hypochlorite is an inorganic compound with the formula NaOCl or NaClO. It has many industrial and household uses, such as production of chlorine for water treatment, cleaning and bleaching. Sodium hypochlorite is produced globally on a large scale and supplied in various forms such as liquid, powder or granules. It is primarily used as a disinfectant and bleaching agent in industries such as agriculture, healthcare and more. The increasing concerns regarding water scarcity and growing need for water disinfection in developing nations has led to rising demand for sodium hypochlorite from water treatment plants.

The global sodium hypochlorite market is estimated to be valued at US$ 67.69 Mn in 2023 and is expected to exhibit a CAGR of 26% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

One of the key drivers for the high growth of the sodium hypochlorite market is the rising demand from water treatment plants. With growing global population, urbanization and industrialization, the demand for fresh water is increasing rapidly. However, water scarcity is a major issue faced across nations. Thus, water treatment through disinfection with sodium hypochlorite has become imperative to ensure supply of potable water. Furthermore, stringent regulations regarding water quality standards in developing countries are also propelling the growth of water treatment infrastructure and demand for sodium hypochlorite.

SWOT Analysis

Strength: Sodium hypochlorite is one of the most widely used and cost-effective disinfectants in water treatment processes. It is highly effective at killing microorganisms like bacteria and viruses. It can also be produced on-site which helps eliminate transportation and storage costs.

Weakness: Sodium hypochlorite is corrosive in its concentrated form and can damage skin and eyes on contact. It degrades over time and has a short shelf life requiring frequent replenishment. Precise dosing is also important to avoid over-chlorination of water.

Opportunity: Stringent regulations regarding water purification in developing nations will boost demand. Increasing focus on hygienic swimming pools and infrastructure will open up new application areas. Advances in stabilized formulations can help address stability issues and enable new use cases.

Threats: Rising environmental consciousness may shift preferences towards green disinfectants. Strict norms around chlorine by-products can impact sales. Alternative emerging technologies pose competitive threats. Volatility in raw material prices is a challenge.

Key Takeaways

Global Sodium Hypochlorite Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 67.69 Mn in 2023 registering a CAGR of 26% during the forecast period.

Regional analysis: The Asia Pacific region currently dominates the market accounting for over 35% share owing to rising investments in water treatment facilities in populous countries like China and India. North America follows in second position and is projected to grow at a significant pace backed by stringent water quality laws.

Key players: Key players operating in the sodium hypochlorite market are Alfalava, Asetek, CoolIT Systems, Green Data Center LLP, Green Revolution Cooling Inc., Horizon Computing Solutions, IBM Corporation, Midas Green Technologies, LLC, Rittal GmbH & Co. Kg., and Schneider Electric SE. These companies are focusing on expanding their production facilities and diversifying product portfolios with customized formulations to target new application areas.