Market Research Future Published a Half-Cooked Research Report on Sodium Percarbonate Market Research Report – Global Forecast to 2023
Sodium Percarbonate (SPC), is an adduct of highly concentrated hydrogen peroxide and sodium carbonate in a non-aqueous form. Hydrogen peroxide and sodium carbonate characteristics of SPC, allows it to find wide application scope as a detergent, cleaning agent, bleaching agent, and most importantly, in the water treatment process in numerous end-use industries.
It is majorly used as a bleaching agent in textiles and paper productions. SPC is also used for cleaning purposes in various industries. However, household and industrial cleaning is the largest application area of Sodium Percarbonate. Augmenting demand led by the wide adoption in the growing industries is a key factor propelling market growth. Continuing with the same trend; the market would observe a significant increase over the assessment period.
According to Market Research Future (MRFR), the Global Sodium Percarbonate Market is poised to touch a valuation of USD 1981.2 MN by 2023. In its recently published report, MRFR also asserts that the market would register a CAGR over 8.24% throughout the forecast period (2017-2023). The enormous growth of the market attributes to the increased absorption of SPC in prominent end-use industries.
Additional factors fueling the Sodium Percarbonate Market include growing population and improving economic conditions that have substantiated the industrialization and urbanization alongside, the purchasing power of consumers. Increasing demand for the latest clothing and the rapidly growing fashion industry are some of the key factors fostering market growth, driving the textiles industry.
On the other hand, spreading awareness towards the toxicity level associated with the SPC is a key factor expected to impede the market growth over the forecast period. Nevertheless, increasing demand for Sodium Percarbonate based products and favorable government regulations are expected to propel the size of the market over the estimated period.
Sodium Percarbonate Market - Competitive Analysis
Highly competitive, the Sodium Percarbonate Market appears to be fragmented due to the presence of many large and small-scale players. These players adopt strategic approaches, such as acquisition, collaboration, expansion, and technology launch to churn the competition and thus to maintain their positions in the market.
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Major Players:
Key players leading the Global Sodium Percarbonate Market include Evonik Industries AG, Solvay AG, OCI Peroxygens LLC, Khimprom, Kemira, JINKE Company Limited., Hogye Holding Group Corporation Limited, Jiangxi Boholy Chemical Co.Ltd., Hodogaya Chemical Co., Ltd., and Wuxi Wanma Chemical Co.Ltd., among others.
Industry/ Innovation /Related News:
July 11, 2019 ---- Solvay S A (Belgium), a leading chemical company, announced the expansion of production capacity in its hydrogen peroxide plant in Belgium, where its debottlenecking project exists. Solvay’s debottlenecking project had already increased its H2O2 production.
The company also plans to expand capacities in Germany and Finland. Strong presence in the EMEA zone would enable Solvay to ensure the reliable supply of hydrogen peroxide, peracetic acid, and sodium percarbonate (SPC) in the region.
Solvay is continuously investing in its production capacities in Europe and Middle East, following the market demand. These investments in Belgium, Germany, and Finland are part of its long-term development plan to optimize its existing production units and reliably delivery of the products. These investments would also meet the growing product demand in Europe, in existing and new applications.
Global Sodium Percarbonate Market - Segments
The Report is segmented into four market dynamics to widen the scope of understanding,
By Type: Coated, Uncoated, and Tablet, among others.
By Application: Cleaning Agent, Bleaching Agent, Detergent Agent, and Water Treatment, among others.
By End-uses: Household Cleaning, Laundry, Industrial Cleaning, Textile Industry, Chemical Industry, Papermaking Industry, and Food Industry, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global SPC Market - Geographical Analysis
Europe dominates the Global Sodium Percarbonate Market. In 2016, the region held the largest as in 41% of the market share. Registering 8.31% CAGR over the forecast period, the region would retain its dominance throughout the review period. Extensive use of Sodium Percarbonate in industries such as laundry, household, textile, and industrial cleaning, predominantly drives the regional market growth. The UK, Germany, and Russia are the major growth contributors to the regional SPC market. Out of these, Germany accounted for 34%, and the UK accounted for 21% of the share of the regional market, respectively.
The Sodium Percarbonate Market in the Asia Pacific region takes the second lead, globally. The region holds approximately 31% of the global market share in 2016. Owing to the surging demand for SPC, the region is further expected to grow at 8.25% CAGR throughout the assessment period. Factors, such as rapid industrialization, increasing industrial investments, and the presence of numerous producers substantiate the regional market growth.
Additionally, the availability of cost-comprehensive workforce and raw-materials foster the growth of the regional market, attracting foreign investors. Owing to the improved standard of living, APAC countries such as India, China, and Japan account for the major contributor to the regional market.
The North America Sodium Percarbonate Market is emerging as a promising market globally. Strict regulatory framework and high rate of technology adoption are allowing the regional market to witness significant growth. The US, among other North American countries, accounts for the major contributor to the regional market growth due to the higher penetration of end-user industries in the country.
Browse Key Industry Insights spread across 132 pages with 204 market data tables & 15 figures & charts from the report, “Sodium Percarbonate Market Information Report by Type (Coated, Uncoated, and Tablet), by Application (Detergent Agent, Cleaning Agent, Bleaching Agent, Water Treatment, and Others), by End Use (Household Cleaning, Laundry, Industrial Cleaning, Textile Industry, Chemical Industry, Papermaking Industry, Food Industry, and Others) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/sodium-percarbonate-market-835
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