Sodium Percarbonate Market Share, Size, Trends, Industry Analysis Report, By Type (Coated, Uncoated, and Tablet); By Application; By End-Use; By Region; Segment Forecast, 2023- 2032
- Published Date:Jul-2023
- Pages: 115
- Format: PDF
- Report ID: PM3502
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global sodium percarbonate market was valued at USD 600.07 million in 2022 and is expected to grow at a CAGR of 3.30% during the forecast period. Rising awareness regarding the wastewater treatment and growing utilization of products as an oxidizing agent and increasing penetration of various government regulations mainly focused on reducing the carbon footprint and pollution levels globally are among the primary factors propelling the global market demand and growth. In addition, with the extensive rise in the demand for paper and pulp industry across the globe due to huge massive consumption of paper coupled with the rising focus of major players on introducing new product solution with enhanced capabilities, is further anticipated to create huge growth opportunities and potential for the market.
To Understand More About this Research: Request a Free Sample Report
For instance, in February 2022, Solvay & Veolia, introduced new energy project called ‘Dombasle Energie’, that will aim at reducing CO2 emissions by over 50%. The project requires an investment of EUR 225 Mn and is likely to stream in 2024 and will have a co-generation unit of 350,000 tons of RDF/year.
Moreover, nanotechnology has been increasingly used to develop new forms of sodium percarbonate that are more efficient and effective in the recent years. For example, nanoscale sodium percarbonate particles have been developed that are more easily dispersed in water and can penetrate fabrics more effectively, resulting in better cleaning performance. The outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. The rapid spread of the pandemic has disrupted supply chains around the world and resulted in raw material shortages, production shutdowns, and shipping delays, that have all contributed to supply chain disruptions, which have made it more difficult for manufacturers to get the requirement amount of sodium percarbonate.
For Specific Research Requirements, Request for a Customized Report
Industry Dynamics
Growth Drivers
The rapid development and technological advancements in the production or manufacturing technique of products across both developed or developing economies worldwide coupled with the rapid rate of urbanization and changes in people lifestyle are among the key factors boosting the sodium percarbonate market growth. The extensive rise in the demand for eco-friendly and biodegradable products and widespread use of use in the water treatment sector because of its ability to remove organic pollutants, is also likely to fuel the market growth.
Furthermore, increase in research towards green chemistry, which is an approach to chemical design and manufacturing that aims to minimize the use and generation of hazardous substances, which is likely to considered to be a greener alternative to traditional cleaning agents, that is positively influencing the growth of the market. For example, green chemistry approaches have been used to develop more sustainable production processes for sodium percarbonate, and efforts have been made to develop more environmentally friendly packaging materials.
Report Segmentation
The market is primarily segmented based on type, application, end-use, and region.
|
By Type |
By Application |
By End-Use |
By Region |
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
Uncoated segment is expected to register steady growth in 2022
The uncoated segment is projected to register significant growth during the anticipated period, which is mainly driven by rapidly growing use as an important component for the laundry detergent and several other disinfectant products, as it is one of the cheapest and easiest to be utilized in many cleaning and bleaching activities. Moreover, these types of products is being widely used as a disinfectant and as a source of oxygen in aquaculture and in the treatment of animal waste. Thus, the growing demand for food products, particularly in developing economies like India and China, is likely to drive the demand for segment market over the coming years
Coated segment is led the industry market with significant revenue share in 2022, mainly due to constant increase in the product usage in water treatment as it releases oxygen and help to remove several organic compounds, metals, and bacteria, therefore with the surge in the global population the demand for fresh water increases that directly affected the demand for coated sodium percarbonates worldwide. Top of Form
Detergent agent segment accounted for the largest market share in 2022
Detergent agent segment accounted for major global market share in 2022, and is likely to retain its market position throughout the forecast period, on account of its ability to remove tough stains and brighten clothes. In addition, advancements in manufacturing technology that have made it possible to produce sodium percarbonate more efficiently and cost-effectively and has also led to a decrease in the cost of production, making it more affordable for manufacturers to incorporate sodium percarbonate into their product offerings, thereby propelling the segment market in the near future.
Household cleaning segment held the significant market share in 2022
Household cleaning segment held the significant market share in terms of revenue in 2022, which is mainly driven by continuous rise in the need and demand for low-cost and highly effective cleaning supplies that are suitable for wide array for households globally couple with the rising popularity and awareness regarding the numerous beneficial properties like high safety, effectiveness, and comparatively low transportation cost that other product chemicals available in the market.
The textile segment is expected to exhibit significant growth rate over the coming years, mainly due to its widespread utilization as a bleaching agent in the textile industry as it helps to remove stains and brighten the colors of the fabric. Sodium percarbonate is an environmentally friendly alternative to chlorine-based bleaching agents because of the increasing awareness among consumers about environmental sustainability, which results in shift towards the use of eco-friendly chemicals in textile industry and led to an increased demand for sodium percarbonate in the textile industry.
Asia Pacific region dominated the global market in 2022
The Asia Pacific region dominated the global market in 2022. The regional market growth can be largely attributed to drastic increase in the product usage in laundry applications and exponential growth in the food industry across the region due to increased population and their spending capacity on high-quality food or cleaning products.
The government regulations in the APAC region aimed at reducing carbon emissions and promoting sustainable development that encourage the use of eco-friendly products are also driving the demand for sodium percarbonate. For example, The China National Environmental Protection Standard for Detergent, which regulates the use of detergent in China and encourages the use of environmentally friendly cleaning agents, including sodium percarbonate in the country.
The Europe region is anticipated to be the fastest growing region with a healthy CAGR during the projected period, that is highly attributable to rise in the demand for greener and cleaner disinfectant products for both residential and cleaning purposes owing to its properties such as no harmful residue and low-temperature solubility along with the surge in research & development activities and widespread adoption of technologically-advanced and several hazard-free manufacturing processes.
Competitive Insight
Some of the major players operating in the global market include Jinke Company Limited, Wuxi Wanma Chemical, Yongtai Chemical, Meryer Chemical Technology, Evonik Industries, Shangyu Jiehua Chemical, Hodogaya Chemical, OCI Peroxygens, Solvay, Akzonobel, Jiangxi Boholy Chemical, Hongye Chemical, Kemira Chemicals, Tata Chemicals, and AG Chem Group.
Recent Developments
- In June 2022, Tata Chemicals Europe, introduced UK’s 1st carbon capture plant, to achieve country’s net-zero targets. This EUR 20 Mn investment has done by this company, that will enable the company to manufacturer sodium bicarbonate and other product chemicals used in wide range of household needs.
- In March 2021, Latour Capital, announced about that the company has acquired Solvay’s Barium and Sodium Percarbonate businesses conducted by certain Solvay German, Mexican, and Spanish, that will help the company strengthen its position in the respective markets and will accelerate their growth.
Sodium Percarbonate Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2023 |
USD 610.87 million |
|
Revenue forecast in 2032 |
USD 817.98 million |
|
CAGR |
3.30% from 2023 – 2032 |
|
Base year |
2022 |
|
Historical data |
2019– 2021 |
|
Forecast period |
2023 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
|
Segments covered |
By Type, By Application, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key companies |
Jinke Company Limited, Wuxi Wanma Chemical Co. Ltd., Yongtai Chemical, Meryer Chemical Technology, Evonik Industries AG, Shangyu Jiehua Chemical, Hodogaya Chemical Co. Ltd., OCI Peroxygens LLC, Solvay AG, Akzonobel, Jiangxi Boholy Chemical Co. Ltd., Hongye Chemical Group, Kemira Chemicals, Tata Chemicals Ltd., and AG Chem Group s.r.o. |
FAQ's
key companies in sodium percarbonate market are Jinke Company Limited, Wuxi Wanma Chemical, Yongtai Chemical, Meryer Chemical Technology, Evonik Industries.
The global sodium percarbonate market is expected to grow at a CAGR of 3.30% during the forecast period.
The sodium percarbonate market report covering key segments are type, application, end-use, and region.
key driving factors in sodium percarbonate market are rapid development and technological advancements in the production.
The global sodium percarbonate market size is expected to reach USD 817.98 million by 2032
