Yahoo Finance Global Sodium chlorite market to reach $376.6 million by 2030: Allied Market Research
Increase in the use of sodium chlorite as a disinfectant and bleaching agent and surge in the use of sodium chlorite among textile and paper end-users fuel the global sodium chlorite market. The COVID-19 pandemic has impacted the market moderately attributing to its reliability on paper, water treatment, textile, and other sectors. By region, the market across Asia-Pacific is predicted to grow at the highest CAGR of 5.3% throughout the forecast period.
Portland, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Sodium chlorite market generated $236.4 million in 2020, and is anticipated to reach $376.6 million by 2030, manifesting a CAGR of 4.8% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Increase in the use of sodium chlorite as a disinfectant and bleaching agent and surge in the use of sodium chlorite among textile and paper end-users fuel the global sodium chlorite market. On the other hand, environmental and health concerns toward the use of sodium chlorite hinder the market growth. On the contrary, increase in the use of sodium chlorite in the textile market creates lucrative opportunities.
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COVID-19 scenario:
The pandemic has impacted the global sodium chlorite market due to its dependence on paper, textile, and water treatment sectors. During the pandemic, many textile companies where sodium chlorite is widely used, halted their operations to curb the spread of COVID-19 infection among workers.
Rise in the need for disinfectants and sanitary products has increased the demand for chlorine and related products during the pandemic.
The pandemic has caused interruptions in the supply chain across several industries.
As per the article issued by United Nations Industrial Development Organization (UNIDO), the pandemic obstructed the global supply chains, and industry manufacturers faced order cancellations owing to a decline in demand.
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The report segments the global Sodium chlorite market on the basis of end-use, application, and region.
Based on application, the disinfectant segment accounted for the largest market share in 2020, contributing to around three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the bleaching agent segment is estimated to witness the fastest CAGR of 5.3% from 2021 to 2030.
Based on end-use, the water treatment segment contributed to the highest market share in 2020, attributing to more than half of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the textile segment is expected to manifest the fastest CAGR of 5.5% from 2021-2030.
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Based on region, the Asia Pacific, followed by North America, contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to maintain dominance during the forecast period. The global Sodium chlorite market across the Asia-Pacific is anticipated to exhibit the fastest CAGR of 5.3% during the forecast period. The report also covers other regions such as Europe and LAMEA.
Key players of the global sodium chlorite market analyzed in the research include Carlit Holdings Co. Ltd., BioE, Shandong Gaomi Gaoyuan Chemical Industry Co. Ltd., Osaka Soda Co. Ltd., Dongying Shengya Chemical Co. Ltd., Otsuka Chemical Co. Ltd., Shree Chlorates Pvt. Ltd., Occidental Petroleum Corporation, Chemzest, and Otto Chemie Pvt. Ltd.
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