Report ID: 10352132 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
The global sodium hypophosphite market is anticipated to expand at a CAGR of 6% over the period 2022-2030, with the revenue estimated to be USD 700 million in 2021. Sodium hypophosphite is a compound with a tendency to absorb moisture and is essentially a mild solvent. It is used as a reducing agent in electroplating and has the characteristics of non-corrosion, strength and heat resistance. Therefore, its characteristics increase its applications in the automotive, aviation and electronics industries. In addition, it also has some uses in the chemical and polymer industries because it can be used as a catalyst for chemical reactions. In addition, because it is soluble in organic and inorganic solvents, it is also used in the pharmaceutical and ceramic industries.
Due to the acceleration of industrialization and urbanization in the region, the Asia-Pacific region is the largest contributor to the market. COVID-19 scenario: As the global economy faces the impact of COVID-19, all industries are adversely affected. In order to curb the spread of the virus by formulating appropriate drugs, the pharmaceutical industry is booming. This may supplement the demand for sodium hypophosphite because it is widely used in the pharmaceutical industry. The demand for sodium hypophosphite is declining in applications such as chemicals and construction. These industries are currently basically in a non-operational state.
Sodium hypophosphite is a compound with a tendency to absorb moisture and is essentially a mild solvent. It is used as a reducing agent in electroplating and has the characteristics of non-corrosion, strength and heat resistance. Therefore, its characteristics increase its applications in the automotive, aviation and electronics industries. In addition, it also has some uses in the chemical and polymer industries because it can be used as a catalyst for chemical reactions. In addition, because it is soluble in organic and inorganic solvents, it is also used in the pharmaceutical and ceramic industries.
Due to the acceleration of industrialization and urbanization in the region, the Asia-Pacific region is the largest contributor to the market. COVID-19 scenario: As the global economy faces the impact of COVID-19, all industries are adversely affected. In order to curb the spread of the virus by formulating appropriate drugs, the pharmaceutical industry is booming. This may supplement the demand for sodium hypophosphite because it is widely used in the pharmaceutical industry. The demand for sodium hypophosphite is declining in applications such as chemicals and construction. These industries are currently basically in a non-operational state.
Main influencing factors:
market scenario analysis, trends, driving factors and impact analysis: Due to the growth of the automotive and electronics industries, the Asia-Pacific region composed of countries such as China and India is the largest contributor to the sodium hypophosphite market. Due to the expansion of the construction industry, the consumption of sodium hypophosphite in the United States, India and South Korea is expected to increase during the forecast period. North America is the second largest shareholder in the sodium hypophosphite market after the Asia-Pacific region. The demand for certain compounds, derivatives, and flame retardants has increased consumption in the region, leading to an increase in market value.
Due to the increased demand for electroplating in the region, Europe ranks third in the market share of sodium hypophosphite. The demand for this product is also expected to increase in the Middle East and Latin America during the forecast period. Sodium hypophosphite can be used as a reducing agent, catalyst and stabilizer, making it an important asset in the automotive and electronics industries. In electronic parts, sodium hypophosphite is used for electroless nickel plating, making it an ideal choice for the automotive industry. Because of this feature, these industries are rapidly contributing to the market value of sodium hypophosphite. In addition, due to the increase in industrialization, a large amount of waste is dumped in nearby water bodies, causing environmental and human health problems. Therefore, sodium hypophosphite acts as a reducing agent and helps to recover nickel, copper and iron from waste. Due to strict regulations on environmental health, the use of sodium hypophosphite in the European market is expected to decline. Participants in the sodium hypophosphite market are moving towards a gradual integration approach. This strategy was adopted to respond to the increase in demand for sodium hypophosphite and to increase its control over the international market.
The main benefits of the report:
This study introduces an analysis overview of the sodium hypophosphite market, as well as current trends and future estimates to determine upcoming investment pockets. The report provides information related to key drivers, constraints and opportunities, as well as a detailed analysis of the market share of sodium hypophosphite from 2022-2030. Quantitative analysis of the current market to highlight Porter’s five forces in the growth scenario of the sodium hypophosphite market The analysis illustrates the power of buyers and suppliers in the market. The report provides a detailed analysis based on the intensity of competition and the way it will be formed in the next few years.
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Report ID: 10352132 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
