IMARC Group, a leading market research company, has recently releases report titled “Sodium Chlorate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global sodium chlorate market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the sodium chlorate market?
The global sodium chlorate market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
What is Sodium Chlorate?
Sodium chlorate (NaClO3) is an inorganic compound produced by the electrolysis of brine in the presence of sodium dichromate as a catalyst and hydrochloric acid (HCL) as a pH regulator. It is available in an odorless crystalline solid form that is characterized by a pale yellow to white color. Easily dissolvable in water, its pure form is non-combustible in nature but is known to act as a combustion accelerant in the presence of flammable materials. Since it also acts as oxidizing and bleaching agents, the chemical compound is extensively used for the production of herbicides, dyes, inks, cosmetics, paper and leather.
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Sodium Chlorate Market Trends:
The market is primarily driven by the growing demand for chlorine dioxide, especially from the developing economies. Sodium chlorate is widely used for the on-site generation of chlorine dioxide that is an environment-friendly bleaching agent. It is further used to manufacture Elemental-Chlorine Free (ECF) paper products that are gaining widespread preference among the masses. Apart from this, the compound is used as a non-selective contact herbicide and defoliant on account of its phytotoxic in nature. As a result, it is employed for spot treatment of perennial weeds for vegetation control on roadsides and fence ways. The market is further driven by the growing utilization of sodium chlorate as an oxidant in the mining sector for extracting vanadium and uranium. Some of the other factors contributing to the market growth include its increasing utilization in the manufacturing of dyes, leather and breathing apparatus, and the easy availability of raw materials (sodium chloride and water) for its production.
Who are the key players operating in the industry?
The report covers the major market players including:
- Eka Chemicals
- Erco Worldwide
- Canexus
- Kemira Oyj
- China First Chemical Holdings Limited
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Form:
- Crystalline
- Solution
Breakup by Application:
- Pulp and Bleaching Industry
- Chlorates of Other Metals
- Leather Tanning
- Dyes
- Others
Regional Insights:
- Canada
- United States
- China
- Finland
- Brazil
- Others
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