(I-BusinessNews.Com, July 30, 2020 ) The sodium hypophosphite market is estimated to be valued at USD 664 million in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 890 million by 2025. Increasing demand from various end-use industries such as automotive, aviation, electronics, and construction is expected to drive this market in the coming years.
Massive transformation in the industrial sector has made Asia Pacific a high growth market for sodium hypophosphite manufacturers. The region consists of populated countries such as China and India that have witnessed development in the electronics and automotive industries where hypophosphite finds widespread applications.
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By function, the reducing agent segment is projected to dominate the sodium hypophosphite market during the forecast period.
Sodium hypophosphite is used as a reducing agent, catalyst & stabilizer, and chemical intermediate. Sodium hypophosphite acts as a reducing agent for electroless nickel plating application, which finds its usage in the electronics and automotive industry. These industries are booming in the emerging economies of Asia Pacific, South America, and the Middle East and African regions. In water treatment as well, sodium hypophosphite, acts as a reducing agent, to reduce the metal ion content in industrial waste before being discharged in water.
By grade, the electrical segment is projected to dominate the sodium hypophosphite market during the forecast period.
Sodium hypophosphite in its electrical grade is used for electroless nickel plating. Electroless nickel plating is gaining widespread acceptance in the automotive and electronics industry. These industries are expanding at a high pace in the Asia Pacific region owing to urbanization, creating growth opportunities for sodium hypophosphite manufacturers in the coming years.
The Asia Pacific region is projected to account for the largest market share during the forecast period.
The Asia Pacific sodium hypophosphite market is projected to account for 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 sodium hypophosphite manufacturers in the coming years owing to the expansion of the automotive and electronics industry in the region. The region consists of China, a key phosphorous reserve country in the region. Various players in the country are involved in the 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 study of marketing and development strategies along with the product portfolios of leading companies in the sodium hypophosphite market. It consists of the profiles of leading companies such as Arkema (France), Solvay S.A. (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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