The global Sodium Hypochlorite Market is estimated to be valued at US$ 67.69 Mn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sodium hypochlorite is commonly used as a disinfectant and bleaching agent in the manufacturing of smartphones and tablets. Its ability to remove impurities and sanitize surfaces makes it ideal for use during various stages of electronic product manufacturing.
Market key trends:
The growing smartphone and tablet manufacturing industry globally is one of the major trends fueling the demand for sodium hypochlorite. Statista estimates that over 1.5 billion smartphones were manufactured in 2022 alone. It is expected to further increase exponentially over the coming years. With rise in manufacturing, the demand for effective disinfection and cleaning agents like sodium hypochlorite from this industry will also witness a proportional surge. Its wide applications from printed circuit board cleaning to final product packaging sanitation has made it an indispensable part of the smartphone and tablet production process.
SWOT Analysis
Strength: Highly effective antimicrobial properties make it suitable for water treatment applications. Weakness: Corrosive nature and release of toxic gases when mixed with certain chemicals.
Opportunity: Growing needs for clean water and wastewater treatment along with stringent regulations. Threats: Availability of alternative disinfectants and easy substitute available in the market.
Key Takeaways
The Global Sodium Hypochlorite Market Size was valued at US$ 67.69 Mn in 2023. The market is expected to grow at a robust CAGR of 28% during the forecast period, to reach a market size of US$ 547.24 Mn by 2030.
Regional analysis: Asia Pacific dominated the global market in 2023 and is expected to remain the highest revenue generating region during the forecast period. China, India, and Japan are the major consumers of sodium hypochlorite in the region owing to rapid industrialization.
Key players: Key players operating in the sodium hypochlorite market are 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, and Ineos.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
