Global Sodium Chlorate Market 2019-2023
About this market
The increasing demand for sodium chlorate in the US will drive the sodium chlorate market growth in the forthcoming years. The increasing demand for paper and paper products in the US is expected to fuel the growth of the market. As pulp and paper manufacturing companies mainly consumed sodium chlorate for producing chlorine oxide. Furthermore, in the mining industry, sodium chlorate is used as an oxidizing agent for the treatment of ore in the extraction of vanadium. Therefore, the growing need for treating vanadium ore will enhance the use of sodium chlorate during the forecast period. Technavio’s analysts have predicted that the sodium chlorate market will register a CAGR of over 4% by 2023.
Easy availability of raw materials
One of the growth drivers of the global sodium chlorate market is the easy availability of raw materials. The increasing demand for sodium chlorate in the production of paper and paper products and its growing consumption in end-user industries such as agriculture, mining, and chemical manufacturing will enhance the consumption of salt during the forecast period.
Problems related to sodium chlorate
One of the challenges in the growth of the global sodium chlorate market is the problems related to sodium chlorate. Health hazards from the use of sodium chlorate will negatively impact the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the sodium chlorate market during 2019-2023, view our report.
The market appears to be fragmented with the presence of several market players. Factors such as the easy availability of raw materials coupled with the increasing demand for sodium chlorate in the US will provide considerable growth opportunities to the sodium chlorate market. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Sodium Chlorate Market 2019-2023
Technavio recognizes the following companies as the key players in the global sodium chlorate market: Akzo Nobel N.V., Arkema, Kemira, SHOWA DENKO K.K., and Superior Plus.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing number of sodium chlorate plants.”
According to the report, one of the major drivers for this market is the increasing demand for sodium chlorate in the US.
Further, the report states that one of the major factors hindering the growth of this market is the increasing alternatives for sodium chlorate.
Akzo Nobel N.V.
SHOWA DENKO K.K.
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