Sodium Perchlorate Market Size, Share, Trends, Growth and Forecast 2030

Description

According to the report published by Zion Market Research, the global Sodium Perchlorate Market size was valued at USD 2,210.85 Million in 2022 and is predicted to reach USD 3,209.63 Million by the end of 2030. The market is expected to grow with a CAGR of 4.77% during the forecast period. The report analyzes the global Sodium Perchlorate Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Sodium Perchlorate Market industry.

Global Sodium Perchlorate Market: Overview

Sodium perchlorate is a hygroscopic white crystalline solid inorganic compound that is highly soluble in alcohol and water. It is widely used as a monohydrate and is produced by anodic oxidation of sodium chloride with platinum. It is widely used as jet fuel and explosives to produce other chemicals. Additionally, it is widely adopted in the metallurgy sector for the extraction of uranium and vanadium. It also functions as a bleaching agent and catalyst as it releases oxygen on decomposition.

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Global Sodium Perchlorate Market: Growth Factors

The global sodium perchlorate market is likely to experience exponential growth in forthcoming years due to the high adoption rate of sodium perchlorate globally, particularly in the paper and pulp sector. However, the paper and pulp sector is witnessing exponential demand from end-users. The emerging trend of adopting eco-friendly techniques for the production of paper and pulp is also driving its demand. Additionally, sodium perchlorate is widely used in onsite chlorine dioxide production. Sodium perchlorate also emerged as a key bleaching agent, particularly in the elemental chlorine-free technique of wood pulp bleaching.

In recent years, consumers have been demanding superior quality craft paper, tissue paper, and wrapping paper. The cost-effectiveness, ease of storage, and convenient accessibility of sodium perchlorate are offering lucrative growth opportunities during the forecast period. The growing demand for sodium perchlorate from the leather, tanning, and dye manufacturing sector will further strengthen the growth of the global sodium perchlorate market. Sodium perchlorate also functions as an effective defoliant in the agriculture sector. As per the Food and Agriculture Organization, approximately 90% of crop production is expected to be a result of higher yield and increased cropping intensity. The Covid-19 pandemic caused economic hardship for businesses and consumers in the global sodium perchlorate market.

However, the shifting consumer pattern along with innovation in supply chain and logistics is likely to positively impact the growth of the global sodium perchlorate market in the forthcoming years. The growing research and development activities are further likely to bring innovative products in the market to expand the customer base. Additionally, technological advancements, product launches, and company acquisitions are some of the key strategies adopted by leading players in the global sodium perchlorate market to strengthen their position globally.

Global Sodium Perchlorate Market: Segmentation

The global sodium perchlorate market can be segmented into industry vertical, application, grid, and region.

By industry verticals, the market can be segmented into agriculture, mining, paper & pulp, chemical, and others. The chemical segment accounts for the largest share in the global sodium perchlorate market due to the growing demand for sodium perchlorate in producing specialty chemicals. Furthermore, it is also utilized in preparing high-quality eco-friendly whitepapers. Additionally, the emerging trend of utilizing sodium perchlorate in metal surface treatment, aerospace, medical, automotive, and construction sectors are further fueling the growth of the segment.

By application, the market can be segmented into herbicide, oxidizing agent, bleaching agent, and others.

By grid, the market can be segmented into technical grade, AAS reagent grade, ACS reagent grade, general grade, and others.

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Global Sodium Perchlorate Market: Regional analysis

Asia Pacific accounts for the largest share in the global sodium perchlorate market due to the gradual rise in demand for sodium perchlorate from the chemical paper and pulp sector in emerging economies like China and India. Also, the emergence of several chemical companies in the region in recent years is likely to create many lucrative growth opportunities in the region.

North America is also likely to expand at a rapid pace in the forthcoming years due to the growing production of paper and pulp across the region.

Global Sodium Perchlorate Market: Competitive Players

Some of the significant players in the global sodium perchlorate market include:

Spectrum Chemical
Thermo Fisher
GFS Chemicals
Shree Chlorates
American Pacific
PerkinElmer
Oakton
EMD Chemical.

The Global Sodium Perchlorate Market is segmented as follows:

By Industry vertical

agriculture
mining
paper & pulp
chemical
and others

By Application

herbicide
oxidizing agent
bleaching agent
and others

By Grid

technical grade
AAS reagent grade
ACS reagent grade
general grade
and others

Global Sodium Perchlorate Market: Regional Segment Analysis

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa