The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Sodium Hypochlorite Market Growth & Trends
The global sodium hypochlorite market size is projected to reach USD 302.7 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. Rising demand for the product from rapidly transforming sanitizers and disinfectants industry as well as water treatment sector is projected to remain the key factor driving the industry.
Sodium hypochlorite is one of the most commonly used disinfectants and sanitizers due to its ability to prevent spread of diseases through bacteria, viruses, and other micro-organisms. In light of the recent COVID-19 outbreak, countries across the globe reflected high demand for hand sanitizers and other personal hygiene products, coupled with household disinfectant products. This led to hefty demand for the product in the sanitizer and disinfectant sector across all major European, Asian, and North American countries.
The product is also globally recognized and clinically utilized for preventing skin against bacterial or viral infection. Typically for this purpose, 0.25% solution of the substance is used on wounds or cuts of the body to protect the skin against fungal or bacterial infection by creating a moisture-barrier layer on the skin. However, doctor’s prescription is recommended as it contains certain inactive ingredients, which may lead to skin irritation.
In U.S., the product consumption has been crucial since the country has faced several water-borne diseases in the past. With a long history of water-borne illness among the local citizens of the country, water treatment operations are of utmost importance, which is the key factor driving consumption of sodium hypochlorite. Similarly, in Canada, the product is extensively used as a germ-kill product in household, wherein it is used after cleaning apparels with detergent for disinfecting clothes. These factors are likely to cumulatively drive the market in North America.
Additionally, the Asian marketspace has observed increasing penetration of product formulators since the past decade on account of easy land availability, lower regulations, and availability of skilled workforce. Increasing competition in the region has led to innovations introduced by the key industry participants to ensure wider product reach and sustain in the marketplace. The trend of growing competition is projected to remain the same across Asian countries, thereby reflecting high product demand over the foreseeable future.
Sodium Hypochlorite Market Report Highlights
- The cleaning and disinfection application segment held the largest volume share in 2019 due to increasing demand for water treatment solution from U.S. and other North American countries
- The bleaching application segment is expected to exhibit a CAGR of 3.2%, in terms of volume, from 2020 to 2027 due to the product’s increasing consumption as a bleaching agent from various textile manufacturers globally
- Asia Pacific is expected to register the fastest CAGR from 2020 to 2027 owing to increasing penetration of personal care and hygiene product formulators in China, Japan, and India
- Companies such as Unilever, OxyChem, and Hawkins Inc. are the market leaders with their worldwide product presence, catering to robust range of industries, such as textiles, sanitizers, and water treatment solutions
- The market is concentrated with multiple international brands with global presence, thereby restricting new entrants into the ecosystem.