Sodium Chlorate Market: Current Analysis and Forecast (2022-2028)

Sodium Chlorate Market: Current Analysis and Forecast (2022-2028)

Sodium Chlorate is an inorganic compound with the chemical formula NaClO3 synthesized through the electrolysis of sodium chlorate and water. It is a white crystalline powder that is readily soluble in water, hygroscopic, and decomposes above 300 °C to release oxygen and leaves sodium chloride. In addition, owing to its phytotoxic properties, sodium chlorate is used as an 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. Furthermore, sodium chlorate is largely used in the preparation of chlorine dioxide, which is an eco-friendly bleaching agent used in the paper & pulp industry.

The Sodium Chlorate Market is expected to grow at a steady rate of around 5% owing to the increasing demand for leather tanning and dyes applications coupled with the growing adoption of sodium chlorate in the agriculture sector. Major companies in the market are increasing their production capacity of sodium chlorate. For instance, Kemira signed an agreement with UPM-Kymmene Corp. to expand the capacity for sodium chlorate and hydrogen peroxide production in Uruguay.

• Based on form, the market is bifurcated into crystalline and amorphous. The crystalline sodium chlorate category witnessed higher CAGR during the forecast period As crystalline sodium chlorate is used in the production of weed control, sodium perchlorate, potassium chlorate, and sodium chlorite. Sodium Chlorate is being used in multiple industries such as bleaches, paper & pulp, dyes, explosives, and others. Also, the crystalline form is found to be quite expensive in comparison to amorphous, given its higher cost of production.
• On the basis of end-user, the market is categorized into paper & pulp, chemical, mining, and others. Among these, paper & pulp is expected to grow with the highest CAGR during the forecast period because it is used for the on-site generation of chlorine dioxide. It is the key bleaching agent for the elemental chlorine-free (ECF) chemical pulping process and is extensively used in emerging markets like India and China. In addition, the concern of maintaining hygiene and the growing consumption of tissue paper, superior-quality packaging paper, and craft paper extracted from sodium chlorate are increasing the growth in the market. Furthermore, the increasing trend of using eco-friendly techniques for paper production or cumulative demand for wood pulp is likely to drive the demand for sodium chlorate during the forecast period.
• For a better understanding of the market adoption of the sodium chlorate industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the growing end-user industries such as e-commerce, paper & pulp, bleaches, dyes, etc. In addition, the growing demand for leather tanning is in turn increasing the demand for sodium chlorate in the region. Furthermore, sodium chlorate is highly preferred in premium leather products applications such as jackets, upholstery, and shoes which is further escalating the growth of the market. In North America, U.S. leads as a major producer of sodium chlorate which is expected to become the top producer across the globe in the coming years.
• Some of the major players operating in the market include Arkema; Nouryon; ERCO Worldwide; Kemira; Shree Chlorates; Tronox Holdings plc; ChemTrade; American Elements; Mil-Spec Industries Corporation; GFS Chemicals, Inc.