Sodium Chlorate Market Lucrative Size, Share, Outlook & Forecast 2022-2030
According to the MRFR analysis, the Sodium Chlorate Market was valued at more than USD 2.1 Billion in 2022 and is expected to reach over USD 2.8 Billion by the end of 2030 at a CAGR of 4.6%.
Sodium
chlorate is an industrial salt produced from table salt and water in reaction
with electricity. Sodium chlorate is largely used in the pulp and paper
industry to produce chlorine dioxide, which is an environmentally friendly
bleaching agent used to manufacture white paper products. It is also used for
the synthesis of potassium chlorates, which are extensively used in explosives.
In addition, it acts as a chemical intermediate in processing perchlorates and
chlorite, an oxidizing mineral compounds, and in the metal finishing sector.
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Trade and Regulatory
Analysis
The
top five importers of the sodium chlorate, as of 2018, were the US, Japan,
Sweden, Russia, and Portugal, whereas the major exporters were China, the US,
Canada, Italy, and Spain. The market witnessed a supply-demand gap in the past
and trade flow can be seen disrupted as it is a hazardous material.
Some
of the international associations, e.g., the US Environmental Protection Agency
and Registration, Evaluation, Authorization, and Restriction of Chemicals
(REACH), have banned products (herbicides) containing chlorate in the
agricultural industry. This has fetched some significant regulations for its
use in agricultural and commercial sites, for instance, in 2010, the REACH had
set the permissible residue limit of 0.01 mg/kg sodium chlorate in food
products. In addition, around 2.8 million pounds of sodium chlorate is used in
the residential and commercial sectors annually in the US.
According
to the World Health Organization (WHO), the drinking water standard for
chlorate is set for 0.03 mg/kg/day.
SEGMENTATION
By Grade
- Crystalline: The crystalline grade segment held the largest share of
over 70% in 2018. This is primarily attributed to the
extensive demand for crystalline sodium chlorate in the production of
chlorine dioxide. Additionally, its use in uranium mining due to
increasing focus on the development of nuclear weapons and submarines is
projected to boost the demand for crystalline form of sodium chlorate.
Moreover, the increasing expenditure in the defense industry in emerging
economies such as India, China, South Korea, and Brazil is expected to
increase uranium mining activities and consequently favor the growth of
the segment.
- Solution: This segment is expected to witness healthy growth
during the forecast period. Sodium chlorate solution is a clear odorless liquid
available in 20–50% solution. The healthy growth of the segment is mainly
attributed to the growing demand for concentrated solution also known as
dry salt in explosives and oxidizable materials, which are extensively
used in the nuclear and defense industries.
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By Application
- Pulp & Paper: The segment accounted for more than 80% share in
2022. The primary factor responsible for the dominance of the pulp and
paper segment is the high use of sodium chlorate in the synthesis of
chlorine dioxide, an excellent key bleaching agent. The growth of paper
board packaging due to the increase in e-commerce and trading activities
across the globe is likely to drive the demand for pulp and paper in the
coming years. The increase in the demand for tissues, wipes and toilet
papers in restaurants, hotels, and office spaces is anticipated to drive
the market growth.
- Chemical Intermediate: Sodium chlorate is preferred
intermediate in potassium chlorate and sodium perchlorates due to its high
oxidizing property, which allows the ignition at a faster rate. The
segment accounted for the second-largest market share in 2018 owing to the
high demand for potassium chlorate in the manufacturing of explosives,
flares, and pyrotechnics. It is expected to witness significant growth
during the review period.
- Uranium Mining: Sodium chlorate finds substantial application in ore
processing particularly uranium mining, an essential material used in
nuclear weapons. Nuclear power generation is major contributor to
sustainable development as it has low environmental impact and does not
generate greenhouse gases. The rapidly increasing demand for fuel in
nuclear power plants and increasing environmental concerns related to
mining on the backdrop of surging urbanization across globe is likely
favor the growth the segment. Also, uranium is widely used as a ballast in
aircraft and boats and as gamma sterilization in the medical industry.
- Water Treatment: Sodium chlorate has high oxidizing potential and
functions as a powerful oxidizing agent through its application chlorine
dioxide. Widespread use of chlorine dioxide in water treatment as it can
oxidize mineral compounds of sulfur, iodide, and bisulfite, which are
highly toxic are likely to drive the product demand. Thus, the growing
demand for treatment of industrial wastewater is expected to result in an
increased demand for sodium chlorate in the coming years.
- Leather Tanning: The growing demand for sodium chlorate in tanning and
finishing leather are likely to drive market growth. Moreover, the rise in
standard of living and increase in consumer spending is expected to
bolster the growth of the market.
- Others: Additional
uses of sodium chlorate such as surface treatment of metal, manufacturing
dyes, pharmaceuticals, herbicide, and vanadium mining are anticipated to
drive the market growth during the forecast period.
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By Region
- North America: The market growth is driven by the
well-established paper and paperboard industry and stringent regulations
pertaining to greenhouse emission through plastic usage. Canada has one of
the largest deposits of uranium, which is expected to create high demand
for sodium chlorate.
- Europe: Germany
is the largest contributor to the regional market growth owing to the
established leather tanning and finishing sectors.
- Asia-Pacific: The largest and fastest-growing regional market
for sodium chlorate. This is primarily attributed to the high demand for
the product in applications such as chlorine dioxide for bleaching pulp,
explosives, ore processing, dyes, and leather tanning.
- Latin America: A small but growing mining and water treatment
industry is likely to fuel the demand for sodium chlorate in the coming
years.
- Middle East & Africa: High growth potential of the pharmaceutical and
cosmetic industries is projected to drive the regional market growth
during the forecast period.
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