Global Sodium Hypophosphite Market to Reach USD 1,168.46 Million by 2030 | CAGR of 5.1%
Category : Materials And Chemicals | Published Date : Aug 2024 | Type : Press Release
Sodium Hypophosphite Market Scope & Overview:
Sodium hypophosphite is a white, odorless, crystalline solid that is soluble in water. It is used as a catalyst, stabilizer, reducing agent, and chemical intermediate. It is corrosion-resistant, strong, and heat-resistant. It is used in industries like electrical and pharmaceutical.
Consegic Business Intelligence analyzes that the Global Sodium Hypophosphite Market size was valued at USD 790.77 Million in 2022 and is expected to register a CAGR of 5.1% to reach USD 1,168.46 Million by 2030.
This report comprises the Sodium Hypophosphite Market Share, Size & Industry Analysis, By Grade (Electrical and Industrial), By Application (Catalysts & Stabilizers, Reducing Agents, Chemical Intermediates, and Others), By End-use Industry (Chemical, Electrical, Pharmaceuticals, Water Treatment, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
This report contains detailed information on Sodium Hypophosphite Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the rising demand for electroplating applications and water treatment is driving the sodium hypophosphite market growth. Also, the rising industrialization and urbanization are expected to create lucrative opportunities for the sodium hypophosphite market.
Segmental Analysis :
The Sodium Hypophosphite market is segmented based on grade, application, end-use industry, and region.
Based on the grade, the market is bifurcated into electrical and industrial.
- In 2022, the electrical segment had the largest market share and is expected to grow at the fastest rate in the sodium hypophosphite market. Sodium hypophosphite as an electrical grade, is used in the automotive and electronics industries for electroless nickel plating.
Based on the application, the market is segmented into catalysts & stabilizers, reducing agents, chemical intermediates, and others.
- The reducing agent accounted for the highest market share in 2022 and is also anticipated to witness the fastest CAGR over the forecasted period. Sodium Hypophosphite as a reducing agent is used in chemical and automotive industries for electroless nickel plating.
Based on the end-use industry, the market is segmented into chemical, electrical, pharmaceuticals, water treatment, and others.
- The water treatment segment held the largest market share in 2022 and is expected to register the fastest CAGR during the forecasted period. As sodium hypophosphite is a strong reducing agent, it is used to remove metal ions from the water.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, Asia Pacific had the highest market share of 38.55% valued at USD 304.84 million, and is expected to reach USD 452.78 million by 2030, with China accounting for 22.15% market share. This is due to the usage of sodium hypophosphite in various industries
- In North America, the sodium hypophosphite market is expected to grow at the fastest CAGR of 6.3% due to increased demand for derivatives and fire retardants.
| Report Attributes | Report Details |
| By Grade | Electrical and Industrial |
| By Application | Catalysts & Stabilizers, Reducing Agents, Chemical Intermediates, and Others |
| By End Use Industry | Chemical, Electrical, Pharmaceuticals, Water Treatment, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Sodium Hypophosphite Industry:
- Arkema
- Solvay S.A.
- Nippon Chemical Industries Co Ltd
- Sigma-Aldrich
- Huanggang Quanwang Chemical Co., Ltd
- Hubei Sky Lake Chemical Co., Ltd.
- Jiangsu Danai Chemical Co., Ltd
- Hubei Xingfa Chemicals Group Co., Ltd.
- Jiangxi Fuerxin Pharmaceutical & Chemical Co., Ltd
- Jiangsu Kangxiang Industrial Group Co., Ltd.
Recent Industry Developments :
- In February 2022, Arkema acquired Ashland's performance adhesives business to strengthen its adhesive solutions segment and become a pure specialty material player by 2024.
- In April 2023, Solvay announced a strategic collaboration with Ginkgo Bioworks to develop new sustainable biopolymers.
