Sodium Chlorate Market: An Eco-friendly and High-quality Solution
- Sodium chlorate (NaCIO3) is an inorganic compound synthesized through electrolysis of sodium chlorate and water. Owing to its phytotoxic properties, sodium chlorate is used as a herbicide to control weed plants. It is also used in the manufacture of explosives and matches and as an oxidizing agent in the dyes industry.
- Sodium chlorate is used in the mining industry to extract vanadium and uranium. It is also employed as catalyst, as it releases oxygen during decomposition.
- Sodium chlorate is largely used in the preparation of chlorine dioxide, which is an eco-friendly bleaching agent used in the paper & pulp industry
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Key Drivers of Global Sodium Chlorate Market
- Increasing demand for wood pulp for craft paper manufacture is one of the key factors driving the global sodium chlorate market. Sodium chlorate is employed for on-site production of chlorine dioxide, which is a key bleaching agent used in the elemental chlorine free (ECF) technique of wood pulp bleaching.
- Demand for superior-quality packaging paper, tissue paper, and craft paper has been increasing among consumers over the last few years. This is likely to provide growth opportunities to the global sodium chlorate market in the near future.
- Easy availability, ease of storage, and cost-effectiveness of sodium chlorate are boosting its adoption in various industries. Increasing demand for use in dye manufacturing as well as in the leather & tanning industry is a significant factor estimated to propel the global sodium chlorate market during the forecast period.
Crystalline Form to be a Key Segment
- Based on form, the global sodium chlorate market can be divided into crystalline and solution
- The crystalline form segment accounts for a leading market share, due to varied usage of sodium chlorate in the crystalline form in several industrial applications.
- Sodium chlorate in its crystalline form is largely used in the production of herbicides and in the bleaching procedure. Growth of the paper & pulp industry is likely to drive the crystalline segment of the global sodium chlorate market during the forecast period.
Bleaching Agent Application Segment Witnesses Significant Opportunity
- In terms of application, the global sodium chlorate market can be segmented into bleaching agent, oxidizing agent, herbicide, water treatment, and others
- Sodium chlorate is widely utilized as a bleaching agent in the manufacture of eco-friendly and high-quality white paper. Thus, sodium chlorate is likely to witness substantial demand in the paper & pulp industry during the forecast period. Increasing trend of using eco-friendly techniques for paper production is likely to drive the demand for sodium chlorate as a bleaching agent in the near future. Environment-related regulations in the U.S. and Canada are driving the usage of sodium chlorate as a bleaching agent.
- Herbicide is projected to be the second-largest segment of the global sodium chlorate market during the forecast period. Reduction in the availability of cultivable land is driving the demand for herbicides. This is also considered a key factor boosting the global sodium chlorate market.
Significant Growth Potential in Paper & Pulp Industry
- Based on end-use industry, the global sodium chlorate market can be divided into textile & leather, paper & pulp, mining, and others
- Paper & pulp is anticipated to be the leading segment of the global sodium chlorate market during the forecast period, owing to the rising demand for paper and wood pulp across the world. Sodium chlorate is utilized in the production of chlorine dioxide, which is used as a bleaching agent in the paper & pulp industry to produce paper of excellent quality.
- Textile & leather is estimated to be the second-largest segment of the global sodium chlorate market, followed by the mining industry, during the forecast period
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Asia Pacific to be a Key Market for Sodium Chlorate
- The global sodium chlorate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to account for a prominent share of the global sodium chlorate market during the forecast period. Paper & pulp and mining industries in the region are estimated to expand significantly in the near future. China leads the market in the region, due to rising demand from the paper & pulp industry in the country.
- The sodium chlorate market in Latin America is estimated to expand considerably from 2019 to 2027, due to rapid growth of the paper & pulp industry in the region. Furthermore, the market in Middle East & Africa is expected to witness sluggish growth during the forecast period.
Key Manufacturers Operating in Global Sodium Chlorate Market
The global sodium chlorate market is highly fragmented, with the presence of a large number of global and regional players. Key manufacturers operating in the global market include:
- ERCO Worldwide
- Kemira Oyj
- American Elements
- Mil-Spec Industries
- B. Enterprises
- Shree Chlorates
- Chemfab Alkalis Limited
Global Sodium Chlorate Market: Research Scope
Global Sodium Chlorate Market, by Form
Global Sodium Chlorate Market, by Application
- Bleaching Agent
- Oxidizing Agent
- Water Treatment
Global Sodium Chlorate Market, by End-use Industry
- Textile & Leather
- Paper & Pulp
- Others (Including Agriculture and Chemical)
Global Sodium Chlorate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.