Market Research Report
Sodium Hypochlorite Market Size, Share & Trends Analysis Report By Application (Cleaning & Disinfection, Bleaching, Chemical Manufacturing), By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||948080|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Sodium Hypochlorite Market Size, Share & Trends Analysis Report By Application (Cleaning & Disinfection, Bleaching, Chemical Manufacturing), By Region, And Segment Forecasts, 2020 - 2027|
|Published: June 24, 2020||Content info: 100 Pages||
The global sodium hypochlorite market size is projected to reach USD 302.7 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. Rising demand for the product from rapidly transforming sanitizers and disinfectants industry as well as water treatment sector is projected to remain the key factor driving the industry.
Sodium hypochlorite is one of the most commonly used disinfectants and sanitizers due to its ability to prevent spread of diseases through bacteria, viruses, and other micro-organisms. In light of the recent COVID-19 outbreak, countries across the globe reflected high demand for hand sanitizers and other personal hygiene products, coupled with household disinfectant products. This led to hefty demand for the product in the sanitizer and disinfectant sector across all major European, Asian, and North American countries.
The product is also globally recognized and clinically utilized for preventing skin against bacterial or viral infection. Typically for this purpose, 0.25% solution of the substance is used on wounds or cuts of the body to protect the skin against fungal or bacterial infection by creating a moisture-barrier layer on the skin. However, doctor's prescription is recommended as it contains certain inactive ingredients, which may lead to skin irritation.
In U.S., the product consumption has been crucial since the country has faced several water-borne diseases in the past. With a long history of water-borne illness among the local citizens of the country, water treatment operations are of utmost importance, which is the key factor driving consumption of sodium hypochlorite. Similarly, in Canada, the product is extensively used as a germ-kill product in household, wherein it is used after cleaning apparels with detergent for disinfecting clothes. These factors are likely to cumulatively drive the market in North America.
Additionally, the Asian marketspace has observed increasing penetration of product formulators since the past decade on account of easy land availability, lower regulations, and availability of skilled workforce. Increasing competition in the region has led to innovations introduced by the key industry participants to ensure wider product reach and sustain in the marketplace. The trend of growing competition is projected to remain the same across Asian countries, thereby reflecting high product demand over the foreseeable future.