According to the latest report by IMARC Group, titled “Sodium Chlorate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, the global market reached a value of US$ 2.83 Billion in 2020. Sodium chlorate (NaCIO3), an inorganic chemical compound, is manufactured by the electrolysis of brine (NaCI). Sodium chlorate is a powerful oxidizing agent that readily dissolves in water. It is an odorless, pale yellow crystalline solid, which is inflammable in nature and acts as an extreme combustion accelerant during decomposition in the presence of flammable materials. While reaching a certain temperature during the decomposition process, it releases oxygen and leaves sodium chloride (NaCl).
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The global market for sodium chlorate is primariy being driven by its widespread usage across a variety of end-use sectors. For instance, the increasing demand for sodium chlorate in the mining sector as an oxidant for extracting uranium and vanadium is one of the significant factors driving the market growth. Moreover, its widespread usage for the manufacturing of the dyes is favoring the market growth. The paper and pulp industry extensively employs the compound for the on-site generation of chlorine dioxide. Also, in the leather industry, the excellent oxidizing properties of sodium chlorate have facilitated its utilization in the process of tanning and finishing leather. Additionally, sodium chlorate is phytotoxic to all green plants, which is why it is now being used as a non-selective herbicide to control the growth of an extensive variety of plants, including creeping thistle, morning glory, johnsongrass, and ragwort. It is also used extensively for the vegetation control on roadsides, fenceways and on non-crop land for spot treatment. The compound is also a key bleaching ingredient used in the process of elemental free chemical pulping, which is providing an impetus to the market growth. Other factors, such as the ease of storage and the low cost of the raw materials (sodium chloride and water), along with their easy availability, are creating a positive outlook for the market across the globe. Looking forward, IMARC Group expects the sodium chlorate market to grow at a CAGR of 5.6% during 2021-2026.
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Competitive Landscape:
- Eka Chemicals
- Erco Worldwide
- Canexus
- Kemira Oyj
- China First Chemical Holdings Limited
Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sodium chlorate market, along with forecasts at the global and country level from 2021-2026. Our report has categorized the market based on form and application.
Breakup by Form:
Breakup by Application:
- Pulp and Bleaching Industry
- Chlorates of Other Metals
- Leather Tanning
- Dyes
- Others
Regional Insights:
- Canada
- United States
- China
- Finland
- Brazil
- Others
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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