The global market for sodium hypophosphite experienced significant strength in 2020 and is projected to maintain a steady growth in revenue over the forecast period. The primary drivers behind this revenue surge include the increasing demand for sodium hypophosphite in water treatment facilities as a reducing agent and its growing utilization in the production of various industrial additives and oilfield scale inhibitors. Consequently, the expansion of chemical, polymer, and plastic industries on a global scale is anticipated to further propel the revenue growth in the sodium hypophosphite market.
Sodium hypophosphite, a white crystalline inorganic substance with deliquescent properties, has the capability to absorb moisture. Its common use lies as a reducing agent in electroplating applications. This naturally occurring chemical exhibits moisture absorption tendencies and serves as a smooth solvent. Widely employed in electroplating, it boasts corrosion-free attributes, high strength, and resistance to heat. Due to these properties, its utilization has been increasing in industries such as automotive, aviation, and electronics. Furthermore, it finds application as a catalyst in chemical reactions, adding to its significance in chemical and polymer industries. Its solubility in both organic and inorganic solvents also makes it suitable for use in pharmaceutical and ceramic industries. All these factors collectively present significant growth opportunities for both the market and its participants.
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Major Companies Profiled In the Report:
- Hubei Xingfa Chemicals Group Co., Ltd.
- Solvay
- Changshu New-Tech Chemicals Co., Ltd.
- Jiangxi Fuerxin Pharmaceutical Chemical Co., Ltd.
- Jiangsu Kangxiang Industrial Group Co., Ltd.
- Zhejiang Zengxin Chemistry Co., Ltd
- Hubei Lianxing Chemical Co., Ltd.
- Febex SA (Arkema)
- Arkema
- Huanggang Quanwang Chemical Co., Ltd.
- Nippon Chemical Industrial Co., Ltd
- Sigma-Aldrich
Factors Affecting of Sodium Hypophosphite Market
Several factors contribute to the dynamics of the sodium hypophosphite market:
- Increasing Demand in Various Industries: The rising demand for sodium hypophosphite stems from its diverse applications across industries like water treatment, manufacturing (especially for industrial additives and oilfield scale inhibitors), chemical, polymer, plastic, automotive, aviation, electronics, pharmaceuticals, and ceramics.
- Role as a Reducing Agent: Its primary function as a reducing agent in electroplating applications significantly contributes to its demand and utilization across multiple sectors.
- Distinct Properties: The unique characteristics of sodium hypophosphite, including its moisture-absorbing nature, smooth solvent properties, corrosion resistance, high strength, and heat resistance, make it an attractive choice in various industries seeking these qualities.
- Catalytic Properties: Its ability to act as a catalyst in chemical reactions enhances its relevance and adoption in chemical and polymer industries.
- Solubility in Various Solvents: The compound's solubility in both organic and inorganic solvents expands its applications, making it suitable for use in pharmaceutical and ceramic industries, adding to its overall demand.
- Global Industrial Growth: The overall growth and expansion of chemical, polymer, plastic, automotive, aviation, electronics, pharmaceutical, and ceramic industries on a global scale further drive the demand for sodium hypophosphite.
These factors collectively contribute to shaping the sodium hypophosphite market and influencing its growth trajectory across multiple sectors.
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Detailed Segmentation In Our Report:
For the purpose of this report, the global Sodium Hypophosphite Market is segmented on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Electronic Grade
- Industrial Grade
- Other
Function Type Outlook (Revenue, USD Billion; 2018-2028)
- Reducing Agents
- Catalysts Stabilizers
- Chemical Intermediates
Application Outlook (Revenue, USD Billion; 2018-2028)
- Electroplating
- Water treatment
- Chemicals pharmaceuticals
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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