Sodium Percarbonate Market 2018 | Challenges, Key Players, Development, Opportunities, Forecast Report 2023

Synopsis of Sodium Percarbonate: 

Sodium Percarbonate is adduct of hydrogen peroxide and Sodium Carbonate in the form of a highly concentrated crystalline powder, mainly used for the cleaning purpose. It is a colorless, hygroscopic, and water soluble solid with chemical formula (2Na2CO3 · 3 H2O2). It is available in coated, uncoated, and tablet form. As it possess characteristics of hydrogen peroxide and Sodium Carbonate, it finds wide application scope as a detergent, cleaning agent, bleaching agent, and is also used in water treatment in numerous end use industries such as household cleaning, laundry, industrial cleaning, textile industry, papermaking industry, and food industry among others.

As per MRFR’s Analysis, some of the market factors and trends identified in the Global Sodium Percarbonate Market include growth of papermaking sector, increasing demand for Sodium Percarbonate based products, and favorable government regulations. Increasing population, coupled with rising per capita disposable income is expected to propel the growth of the market over the forecast period. Sodium Percarbonate is widely used as a bleaching agent in textile industry. Growing purchasing power coupled with increasing demand for latest fashionable clothing is expected to fuel the growth of the market during the review period, 2016-2023. However, rising consumer awareness regarding the toxicity level associated with these, is expected to hinder market growth over the forecast period. With the aforementioned reasons, this market is estimated to reach USD 1981.2 million by 2023 with a CAGR of 8.24 % during the assessment period. 

Global SPC Market   – Segments 

MRFR has segmented the market into four key dynamics. 

By Types: Comprises – Coated, Uncoated, and Tablet 

By Applications:  Cleaning Agent, Detergent Agent, Bleaching Agent, and Water Treatment, among others. 

By End-Use:  Laundry, Household Cleaning, Industrial Cleaning, Chemical Industry, Textile Industry, Papermaking Industry, and Food Industry, among others. 

By Regions:  North America, Europe, APAC and Rest of the World. 

Segment Detergent Agent accounts for the leading segment by application with 48% of market share. The segment is projected to register 11.08 %CAGR over the forecast period. 

Key Findings: 

Global Sodium Percarbonate Market is projected to reach USD 1981.2 million by 2023, expanding at a CAGR of 8.24% over the forecast period of 2017 to 2023. Europe accounted for largest share of around 41% due to largest production of Sodium Percarbonate in this region. Moreover, the region will be surpassing its own numbers of regional shares over the forecast period, owing to consistent increasing production of Sodium Percarbonate in this region. Germany and UK are the major growth driving country in Europe region and accounted for 34% and 21% of the regional market shares respectively while growing at highest CAGR of 8.46% and 8.29%. 

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Sodium Percarbonate Market 2017: Analysis, Growth, Top Key Players, Drivers and Trends by Forecast to 2023

Market Highlights:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, Global Sodium Percarbonate Market was valued at USD 1146 million in 2016 and is predicted to grow at 8.24% CAGR to reach USD 1950 million by the end of 2023. Sodium Percarbonate is gaining importance in the global market with the increasing usage in end use industries such as household cleaning, laundry, textile, laundry, chemical, papermaking, food, industrial cleaning, and others.
Some of the key market factors that positively influence the market growth are, increasing demand from household cleaning industry, growing production of Sodium Percarbonate based detergent, and increasing urbanization. Rapid industrialization coupled with rising disposable income in developed and developing countries are expected to drive the growth of the market over the forecast period. Rising usage of Sodium Percarbonate as a disinfecting agent in end use industry such as food and pharmaceutical owing to increased demand for safe food and pharmaceuticals, is predicted to fuel the growth of the market during the review period. Additionally, tremendous growth of textile industry due to increasing trend of aesthetic clothing is predicted to propel the demand for bleaching agent, which in turn, is expected to fuel the growth of market over the forecast period. However, availability of substitute such as sodium carbonate and other oxygen based bleaching agents is estimated to hinder the growth of the market.

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Segment Analysis:
The Global Sodium Pearbonate Market is segmented into type, application, end use, and region. On the basis of type, the global market has been segmented into coated, uncoated and tablet. Among these, coated type of Sodium Percarbonate dominate the segment and accounted for around 60% market share among others. On the basis of application, the market is divided into detergent agent, cleaning agent, bleaching agent, water treatment, and others. Among these, detergent agent segment has accounted for around 48% market share in 2016, with a market value of USD 551.2 million and is predicted to grow with the highest CAGR of 11.09% during the forecast period. End use segment comprised of household cleaning, laundry, industrial cleaning, textile industry, papermaking industry, chemical industry, food industry, others. Household segment is expected to be the largest segment and exhibit 53% of market share in 2016, with a market value of USD 607.4 million and is predicted to grow with a healthy CAGR owing to rising urbanization and growing purchasing power. Laundry holds the second largest segment and is expected to grow with the highest CAGR of 8.29% during the assessment period. Increasing population and rising tourism activities are the key driving factors for the growth of laundry segment in the upcoming years.

Regional Analysis:
Regionally, Sodium Percarbonate Market is segmented into five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among all the regions, Europe dominates the market and accounted for around 41% of the overall market share in 2016, and predicted to reach USD 816 million during the review period. Asia Pacific is expected to grow with the highest CAGR of around 8.25% during the assessment period. China and India are expected to be the key dominating market due to strong growth in industrial sector. In 2016, European market is trailed by Asia Pacific, which is followed by North America. Developed regions such as Latin America and North America are predicted to witness a significant growth owing to stringent regulatory framework along with the high technology advancement.

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