Global Sodium Hypophosphite Market growing at a CAGR of 5.1% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Aug 2023
Key Market Overview
Consegic Business Intelligence analyzes that the global sodium hypophosphite market is growing with a CAGR of 5.1% and is expected to reach USD 1,168.46 million in 2030 from USD 790.77 million in 2022.
The report highlights the increasing demand for sodium hypophosphite from water treatment. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the sodium hypophosphite market.
Global Sodium Hypophosphite Market By Overview
The sodium hypophosphite market is bifurcated into grade, application, and end-use industry. Based on grade, the market is segmented into electrical and industrial. In 2022, the electrical segment accounted for the highest market share in the sodium hypophosphite market. Based on application, the market is categorized into catalysts & stabilizers, reducing agents, chemical intermediates, and others. In 2022, the reducing agent segment accounted for the highest market share in the overall sodium hypophosphite market. Based on end-use industry, the market is categorized into chemical, electrical, pharmaceuticals, water treatment, and others. In 2022, the water treatment segment accounted for the highest market share in the overall sodium hypophosphite market.
Get Free SampleMarket Dynamics
Driver:
- Rise in demand for electroplating applications is accelerating the sodium hypophosphite market growth.
- Growing usage of sodium hypophosphite in water treatment is prospering the market growth.
Restraints:
- The presence of alternatives is likely to hamper the market.
Opportunity:
- Increasing industrialization and urbanization in various regions serves as opportunities for market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Grade | Electrical and Industrial |
| By Application | Catalysts & Stabilizers, Reducing Agents, Chemical Intermediates, and Others |
| By End-use Industry | Chemical, Electrical, Pharmaceuticals, Water Treatment, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Arkema, Solvay S.A., among others have a strong market position in current market circumstances. Further, the sodium hypophosphite market is expected to witness significant growth in the coming years due to the rise in favourable government initiatives in water treatment activities. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Arkema
- Solvay S.A.
- Nippon Chemical Industries Co Ltd
- Sigma-Aldrich
- Huanggang Quanwang Chemical Co., Ltd
- Hubei Sky Lake Chemical Co., Ltd.
- Jiangsu Danai Chemical Co., Ltd
- Hubei Xingfa Chemicals Group Co., Ltd.
- Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd
- Jiangsu Kangxiang Industrial Group Co., Ltd.