Sodium Hypophosphite Market Projected to Reach $890 Million by 2025

11/set/2019 11:18:44 MarketsandMarkets Contatta l'autore

The report  " Sodium Hypophosphite Market  by Function (Reducing Agents, Catalysts & Stabilizers, Chemical Intermediates), Application (Electroplating, Water Treatment, Chemicals & Pharmaceuticals), Grade (Electrical, Industrial), and Region - Global Forecast to 2025" , is estimated at USD 664 million in 2019 and is projected to grow at CAGR of 5.0% from 2019 to 2025, to reach USD 890 million by 2025 treatment, and construction. Massive transformation into the industrial sector has made Asia Pacific to the high growth market for sodium hypophosphite manufacturers. The food sector is expected to be emerging as an antioxidant, stabilizer, and antimicrobial.

Sodium Hypophosphite Market

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The lower segment is the fastest growing sodium hypophosphite market during the forecast period.

Sodium hypophosphite acts as a reducing agent for electroless nickel plating application. Electroless nickel plating finds its usage in the electronics and automotive industry. These industries are booming in the emerging Asia Pacific, South America, and the Middle East and African regions. In Asia Pacific, it holds high growth prospects for sodium hypophosphite, such as China, India, and Japan. Water treatment as well, sodium hypophosphite, acts as a reducing agent, to reduce metal ion content in industrial waste before being discharged in water.

The electroplating segment is projected to record the fastest growth during the forecast period.

Sodium hypophosphite finds its usage widely for electroplating application. The automotive and electronics industries use the electroless nickel plating application. The corrosion resistance property of electroless nickel plating makes it an ideal choice for both industries. The Asia Pacific region, a hub of export of electronic products, boasts of high growth prospects for sodium hypophosphite manufacturers in the coming years. Key revenue-generating countries in the region include China, the largest producer of electronics at a global level, Vietnam, Japan, South Korea, and Taiwan, the hub of production of hard drives, semiconductor, and integrated circuits.

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The Asia Pacific region is projected to account for the largest market share during the forecast period.

Asia Pacific sodium hypophosphite market is projected to the largest share by 2025. Countries such as China, India, Japan, and South Korea are expected to be key revenue generators during the next few years. Lucrative opportunities lie ahead for the sodium hypophosphite. The region consists of China, a key phosphorous reserve country in the region. Various players in the country are involved in export of sodium hypophosphite to the Western markets. These include Hubei Xingfa Chemicals Group Co., Ltd. (China), Changshu New-Tech Chemicals Co., Ltd. (China), and Jiangxi Fuerxin Medicine Chemical Co., Ltd. (China).

This report includes a series of leading companies in the sodium hypophosphite market. Such as Arkema (France), Solvay SA (Belgium), Nippon Chemical Industrial Co., Ltd. (Japan), Sigma-Aldrich (US), Hubei Xingfa Chemicals Group Co., Ltd. (China), Changshu New-Tech Chemicals Co., Ltd. (China), Jiangxi Fuerxin Medicine Chemical Co., Ltd. (China), Jiangsu Kangxiang Industrial Group Co., Ltd. (China), Hubei Lianxing Chemical Co., Ltd. (China), Jiangsu Danai Chemical Co., Ltd. (China), Hubei Sky Lake Chemical Co., Ltd. (China), and Huanggang Quanwang Chemical Co., Ltd. (China).

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