SODIUM HYPOCHLORITE MARKET ANALYSIS

The global sodium hypochlorite market is projected to reach around US$ 385.2 million by the end of 2030, in terms of revenue, growing at a CAGR of 28.2% during the forecast period (2023-2030).

Global Sodium Hypochlorite Market- Impact of Coronavirus (Covid-19) Pandemic

The global sodium hypochlorite market witnessed high demand in 2020 owing to stringent regulations by governments for the sanitization of public spaces. However, the COVID-19 pandemic severely impacted distribution channels and consumer spending patterns. Consumer goods and chemicals among others are expected to witness a declining demand due to lockdowns in various countries across the globe. However, end-user industries, such as pharmaceutical and water treatment, are expected to grow during the forecast period.

Global Sodium Hypochlorite Market: Drivers

• Growth of pharmaceutical industries in emerging economies

Growing end-use industries, such as pharmaceutical, water treatment, chemical, and others, in emerging economies is expected to drive the growth of the global sodium hypochlorite market during the forecast period. The wastewater chemical treatment industry is the major driver of the global sodium hypochlorite market owing to rapid urbanization and industrialization especially in emerging economies including China and India

For instance, India's domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030.

Global Sodium Hypochlorite Market: Restraints

Sodium hypochlorite is corrosive in nature

Sodium hypochlorite is corrosive in nature, and thus extremely dangerous when exposed directly in sunlight . Stringent safety measures are required to be taken by workers while working in production plants of sodium hypochlorite. High risks involved during the production of sodium hypochlorite are expected to hinder the growth of the market over the forecast period.

Market Opportunity-

The increasing demand for clean potable water across the globe is expected to drive the market growth during the forecast period. The exponentially increasing demand for bleach by the textile, and pulp and paper industries is expected to boost the global sodium hypochlorite market growth wordwide in the coming years. The increasing demand for sodium hypochlorite by the medical industry for disinfecting surgical instruments and hospital rooms is poised to drive the global sodium hypochlorite market growth till 2030.

Market Trends-

 Companies engaged in the manufacturing

Companies engaged in the manufacturing of sodium hypochlorite are adopting different strategies, such as mergers and acquisitions, in order to expand their product portfolios and market presence globally. The products are marketed globally through different marketing strategies.

Global Sodium Hypochlorite Market: Key  Developments

• On May 12, 2023, HUL with BMC & HSBC India launched five new Suvidha Centres in Mumbai, India. With this launch, there are a total of 12 Suvidha Centres in Mumbai, India providing clean sanitation, drinking water, showers, and laundry facilities to over 300,000 people every year.
• In September 2020, ThyssenKrupp AG  a German multinational conglomerate engaged in industrial engineering and steel production launched an engineered and custom-designed, portable sodium hypochlorite disinfection traveller unit for spraying disinfectant in COVID-19 hotspot areas to help curb the spread of the virus. In September 2020, Hindustan Unilever Limited, India a consumer goods company launched a host of products under its well-established brands in response to rising demand for sanitary products. One of the products was Domex, their toilet cleaner brand that was introduced as a new formulation using sodium hypochlorite, which reduced the chance of infection in public washrooms.

Global Sodium Hypochlorite Market: Market Segmentation

Figure 1. Sodium Hypochlorite Market(%) in terms of Value, By Region, in 2022

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North America dominated the global sodium hypochlorite market in 2022, accounting for a 45% share in terms of value, followed by Europe and Asia Pacific.

Global Sodium Hypochlorite Market: By Application

On the basis of application, in 2022, the cleaning and disinfection segment accounted for the largest market share of 60% in terms of value.

Figure 2. Sodium Hypochlorite Market Share (%) in terms of Value, By Product Type, in 2022

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Global Sodium Hypochlorite Market: Key Companies

The key companies are BASF Chemicals, Odyssey Manufacturing Co., Aditya Birla, AGC group, Orica Watercare, Akzo Nobel, Shanghai Polymet Commodities Ltd., Sumitomo Chemicals, Solvay Chem, Sunbelt Chemical Corporations, Arkema Group, Surpress Chem, and Ineos.

*Definition: Sodium hypochlorite is a solution made by reacting chlorine with sodium hydroxide solution. It is a greenish yellow liquid with a faint chlorine-like odour.  Sodium hypochlorite is also known as household bleach. At stronger concentrations, it is used as a bleaching agent for the production of paper, pulp, and textiles.