Market Size in 2022 | Market Forecast in 2030 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 2,210.85 Million | USD 3,209.63 Million | CAGR at 4.77% | 2022 |
According to the report published by Zion Market Research, the global Sodium Perchlorate Market size was valued at USD 2,210.85 Million in 2022 and is predicted to reach USD 3,209.63 Million by the end of 2030. The market is expected to grow with a CAGR of 4.77% during the forecast period. The report analyzes the global Sodium Perchlorate Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Sodium Perchlorate Market industry.
Sodium perchlorate is a hygroscopic white crystalline solid inorganic compound that is highly soluble in alcohol and water. It is widely used as a monohydrate and is produced by anodic oxidation of sodium chloride with platinum. It is widely used as jet fuel and explosives to produce other chemicals. Additionally, it is widely adopted in the metallurgy sector for the extraction of uranium and vanadium. It also functions as a bleaching agent and catalyst as it releases oxygen on decomposition.
The global sodium perchlorate market is likely to experience exponential growth in forthcoming years due to the high adoption rate of sodium perchlorate globally, particularly in the paper and pulp sector. However, the paper and pulp sector is witnessing exponential demand from end-users. The emerging trend of adopting eco-friendly techniques for the production of paper and pulp is also driving its demand. Additionally, sodium perchlorate is widely used in onsite chlorine dioxide production. Sodium perchlorate also emerged as a key bleaching agent, particularly in the elemental chlorine-free technique of wood pulp bleaching.
In recent years, consumers have been demanding superior quality craft paper, tissue paper, and wrapping paper. The cost-effectiveness, ease of storage, and convenient accessibility of sodium perchlorate are offering lucrative growth opportunities during the forecast period. The growing demand for sodium perchlorate from the leather, tanning, and dye manufacturing sector will further strengthen the growth of the global sodium perchlorate market. Sodium perchlorate also functions as an effective defoliant in the agriculture sector. As per the Food and Agriculture Organization, approximately 90% of crop production is expected to be a result of higher yield and increased cropping intensity. The Covid-19 pandemic caused economic hardship for businesses and consumers in the global sodium perchlorate market.
However, the shifting consumer pattern along with innovation in supply chain and logistics is likely to positively impact the growth of the global sodium perchlorate market in the forthcoming years. The growing research and development activities are further likely to bring innovative products in the market to expand the customer base. Additionally, technological advancements, product launches, and company acquisitions are some of the key strategies adopted by leading players in the global sodium perchlorate market to strengthen their position globally.
The global sodium perchlorate market can be segmented into industry vertical, application, grid, and region.
By industry verticals, the market can be segmented into agriculture, mining, paper & pulp, chemical, and others. The chemical segment accounts for the largest share in the global sodium perchlorate market due to the growing demand for sodium perchlorate in producing specialty chemicals. Furthermore, it is also utilized in preparing high-quality eco-friendly whitepapers. Additionally, the emerging trend of utilizing sodium perchlorate in metal surface treatment, aerospace, medical, automotive, and construction sectors are further fueling the growth of the segment.
By application, the market can be segmented into herbicide, oxidizing agent, bleaching agent, and others.
By grid, the market can be segmented into technical grade, AAS reagent grade, ACS reagent grade, general grade, and others.
Report Attributes | Report Details |
---|---|
Report Name | Sodium Perchlorate Market Research Report |
Market Size in 2022 | USD 2,210.85 Million |
Market Forecast in 2030 | USD 3,209.63 Million |
Growth Rate | CAGR of 4.77% |
Number of Pages | 180 |
Key Companies Covered | Spectrum Chemical, Thermo Fisher, GFS Chemicals, Shree Chlorates, American Pacific, PerkinElmer, Oakton, and EMD Chemical. |
Segments Covered | By Industry vertical, By Application, By Grid and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Global Sodium Perchlorate Market: Regional analysis
Asia Pacific accounts for the largest share in the global sodium perchlorate market due to the gradual rise in demand for sodium perchlorate from the chemical paper and pulp sector in emerging economies like China and India. Also, the emergence of several chemical companies in the region in recent years is likely to create many lucrative growth opportunities in the region.
North America is also likely to expand at a rapid pace in the forthcoming years due to the growing production of paper and pulp across the region.
Some of the significant players in the global sodium perchlorate market include:
By Industry vertical
By Application
By Grid
What Reports Provides
FrequentlyAsked Questions
The global sodium perchlorate market is likely to experience exponential growth in forthcoming years due to the high adoption rate of sodium perchlorate globally, particularly in the paper and pulp sector. However, the paper and pulp sector is witnessing exponential demand from end-users. The emerging trend of adopting eco-friendly techniques for the production of paper and pulp is also driving its demand.
Some of the significant players in the global sodium perchlorate market include Spectrum Chemical, Thermo Fisher, GFS Chemicals, Shree Chlorates, American Pacific, PerkinElmer, Oakton, and EMD Chemical.
Asia Pacific accounts for the largest share in the global sodium perchlorate market due to the gradual rise in demand for sodium perchlorate from the chemical paper and pulp sector in emerging economies like China and India.
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