Based on region, Asia-Pacific, followed by North America, is expected to witness the highest CAGR of 5.1% during the forecast period, due to increased demand from the pharmaceutical industry and rise in demand for treated water from different industries such as municipal and industrial. However, Europe accounted for the highest market share in 2020, contributing to more than half of the global sodium hypochlorite market, and is expected to maintain its dominant share in terms of revenue by 2030. This is attributed to increased demand from industries such as chemical manufacturing and pharmaceutical along with surge in awareness about environmental pollution.
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Based on application, the disinfection & cleaning segment contributed to the highest share in 2020, accounting for more than half of the global sodium hypochlorite market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 5.0% from 2021 to 2030. This is due to increased demand for disinfectants from various industries along with rise in awareness and importance of disinfection during the Covid-19 pandemic. The research also analyzes the segments including bleaching, oxidizing, and others.
Allied Market Research published a report, titled, “Sodium Hypochlorite Market by Application (Disinfection & Cleaning, Bleaching, Oxidizing, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global sodium hypochlorite industry generated $266.0 million in 2020, and is estimated to reach $422.5 million by 2030, witnessing a CAGR of 4.7% from 2021 to 2030.
Rise in demand for water treatment chemicals and rapid increase in demand from various industries such as textiles and pulp & paper industries drive the growth of the global sodium hypochlorite market. However, hazardous effects associated with the use of sodium hypochlorite hinder the market growth. On the other hand, surge in demand from the healthcare industry creates new opportunities in the coming years.
Covid-19 Scenario
The demand from application industries such as paper and textiles decreased due to closure of manufacturing plants due to lockdown measures, lack of workforce, and disrupted supply chain.
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The demand for sodium hypochlorite for disinfection purposes increased significantly as disinfection became the major step in commercial and residential spaces in curbing the spread of Covid-19. Moreover, manufacturing and supply chain hindrances created the supply-demand gap.
The disinfection & cleaning segment to maintain its leadership status during the forecast period.
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