LONDON--(BUSINESS WIRE)--The global sodium chlorate market is expected to post a CAGR of about 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The pulp and paper industry is the largest end-user of sodium chlorate. The industry uses sodium chlorate to manufacture sodium oxide, which is used to bleach wood pulp to produce high-quality and eco-friendly white paper products. Over recent years, the growing demand for paper and paperboards has led to an increase in demand for sodium chlorate from the pulp and paper industry, which is fueling the growth of the market.
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As per Technavio, the growing use of sodium chlorate in various end-user industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sodium Chlorate Market: Growing Use of Sodium Chlorate in Various End-User Industries
Sodium chlorate is widely used in many end-user industries such as mining, water treatment, chemicals, agriculture, and fireworks. For instance, in the mining industry, it is used as an oxidizing agent to treat ores for the extraction of vanadium. Similarly, in the agriculture industry, sodium chlorate is widely used as a herbicide due to its oxidizing properties. Therefore, the increasing application of sodium chlorate in various end-user industries is expected to boost the growth of the market during the forecast period.
“The increasing demand for sodium chlorate in APAC and the rising number of sodium chlorate plants to cater to the high demand will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Sodium Chlorate Market: Segmentation Analysis
This market report segments the global sodium chlorate market by end-users (pulp and paper and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, South America, Europe, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the growing consumption of herbicides and coated paper in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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