The global Sodium Hypochlorite Market accounted for around US$ 252.8 million in 2022, and it is predicted to grow at a CAGR of 28.2% during the forecast period (2023-2030).
For instance, 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.
Driver
Rising awareness among consumers regarding drinking water purity levels
Due to rapid urbanization and industrialization, the problem for wastewater chemical treatment has been a concern, but sodium hypochlorite has found to be very effective in wastewater chemical treatment and this will ultimately contribute towards the growth of the global sodium hypochlorite market. In the coming years, the global sodium hypochlorite market is likely to be boosted because of the increasing demand for bleach from paper and pulp industries. Furthermore, rising awareness about maintaining health and hygiene in offices, homes, hotels, malls, and public restrooms is fuelling the demand for sodium hypochlorite because of its highly effective disinfecting property.
Market Opportunities
The wastewater chemical treatment is the major driver of the global sodium hypochlorite market owing to rapid urbanization and industrialization especially in emerging economies including China and India. The exponentially increasing demand for bleach by the textile and pulp and paper industries is expected to boost the global sodium hypochlorite market growth worldwide in the coming years.
Restraint
The global sodium hypochlorite market witnessed a significant negative impact in the recent months owing to lockdowns imposed globally to curb the spread of COVID-19. Manufacturing plants were also shut down on government orders for a brief period. However, there was an increase in the sales of sanitizers during the COVID-19 pandemic as sodium hypochlorite is a crucial and effective ingredient in formulations of disinfectants and sanitizers which were in high demand worldwide.
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Key Takeaways:
On the basis of application, the cleaning and disinfection segment dominated the global sodium hypochlorite market in 2021 with around 60% of market shares in terms of revenue, followed by the bleaching and chemical manufacturing segments, respectively.
On the basis of end-use industries, the pharmaceutical and water treatment industries are expected to grow during the forecast period.
Market Trends
Rising awareness about maintaining health and hygiene in offices, homes, hotels, malls, and public restrooms is fuelling the demand for sodium hypochlorite woing to its highly effective disinfecting properties. 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.
Competitive Section:
Company Names
- 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
- Ineos
