Sodium Hypophosphite Market Size, Share, Growth & Industry Report, 2028

Posted by perter taylor on April 13th, 2021

Research Nester published a report titled “Sodium Hypophosphite Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the sodium hypophosphite market in terms of market segmentation by function, by application, by grade, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.

Sodium hypophosphite (NaPO2H2) is the sodium salt of hypophosphorous acid and is habitually come across as the monohydrate, NaPO2H2 – H2O. It is solid at room temperature, looking as odorless white crystals. It is soluble in water, alcohol, & glycerine and can easily absorb moisture from the air.

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The sodium hypophosphite market is anticipated to witness an achievable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by function, application, grade, and region. Among product functions, the reducing agent segment is projected to account for the foremost share of the global sodium hypophosphite market in the forecast period. Sodium hypophosphite is utilized as a reducing agent for numerous elements such as metals, plastics, glass, and ceramics to improve their behavioral properties. By product grade, the electrical grade is expected to dominate the market on account of sodium hypophosphite in its electrical grade being employed for electroless nickel plating, which further increases unlimited adoption in the automotive and electronics sectors.

Regionally, the Sodium hypophosphite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The Asia-Pacific region is projected to witness the major market share of the global sodium hypophosphite market in the forecast period. This growth is attributed to the budding interest of foreign investors in developing nations for significant penetration in the Asia Pacific market, growing polymer, plastics, and chemicals industry in the region, development in automotive, and aviation industry along with the growing demand for metal coated products from this industry in the region. Further, the lower production & labor cost, and lenient rules in these regions are appealing manufacturers to raise their business in these regions, which is expected to drive the demand for sodium hypophosphite in the Asia-Pacific market.

North America and Europe are projected to record reasonable growth over the forecast period. North America is projected to hold the second-highest share in the market, in terms of consumption owing to the growing demand for sodium hypophosphite in various industries. And Europe holds the third-largest market for sodium hypophosphite as a result of high demand for electroplating applications.

Rising demand for water treatment in industrial applications is anticipated to drive the sodium hypophosphite market

The growing industrial development has amplified the amount of waste discharged in water bodies every year. Furthermore, the unregulated discharge of industrial and domestic contaminants into water bodies causes health problems in human beings and the destruction of aquatic life, thus demanding the use of water treatment chemicals, for which sodium hypophosphite can be useful as a reducing agent. The contaminated water further affects the use of water for drinking, recreation, household needs, transportation, and commerce.

Additionally, the growing demand for electroplated metal products is demanding the usage of sodium hypophosphite as it works as a reducing agent. In recent years, the market has witnessed a growing demand for electroplating applications in numerous industries such as automotive, aerospace, plastics, and ceramics, among others that in turn boosting the overall demand for sodium hypophosphite market.

However, the socio-economic conditions of many countries have been disturbed, the supply chain has been at a halt, prices in the market are fluctuating, and export-import have been affected, owing to the pandemic situation, spread worldwide, and these factors might hamper the growth of the overall Sodium hypophosphite e-market in the forecast period.

This report also provides the existing competitive scenario of some of the key players of the sodium hypophosphite market which includes company profiling of Jiangsu Kangxiang Industrial Group Co., Ltd., Hubei Xingfa Chemicals Group Co., Ltd (SHA: 600141), Nippon Chemical Industrial CO., LTD. (TYO: 4092), Arkema Group (EPA: AKE), Solvay (EBR: SOLB), Changshu New-Tech Chemicals Co., Ltd., Hubei Lianxing Chemical Co., Ltd, Chemical Co., Ltd. Suzhou Yu.

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perter taylor
Joined: July 24th, 2019
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