Market Research Future (MRFR) announces the publication of
its research report –Sodium Percarbonate Market 2017-2023
Market Research Future (MRFR) recognizes the following
companies as the key players in the Global Sodium Percarbonate Market: Solvay
AG, Evonik Industries AG, OCI Peroxygens LLC, Kemira, Khimprom, HOGYE
HOLDING GROUP CORPORATION LIMITED, JINKE Company Limited., Jiangxi Boholy
Chemical Co.,Ltd, Wuxi wanma chemical co.,ltd,, Hodogaya Chemical
Co., Ltd.
Market Highlights:
Commenting on this report, an analyst from Market Research
Future (MRFR)’s team said, Global Sodium Percarbonate Market was valued at USD 1146
million in 2016 and is predicted to grow at 8.24% CAGR to reach USD 1950
million by the end of 2023. Sodium Percarbonate is gaining importance in the
global market with the increasing usage in end use industries such as household
cleaning, laundry, textile, laundry, chemical, papermaking, food, industrial
cleaning, and others.
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Some of the key market factors that positively influence the
market growth are, increasing demand from household cleaning industry, growing
production of Sodium Percarbonate based detergent, and increasing urbanization.
Rapid industrialization coupled with rising disposable income in developed and
developing countries are expected to drive the growth of the market over the
forecast period. Rising usage of Sodium Percarbonate as a disinfecting agent in
end use industry such as food and pharmaceutical owing to increased demand for
safe food and pharmaceuticals, is predicted to fuel the growth of the market
during the review period. Additionally, tremendous growth of textile industry
due to increasing trend of aesthetic clothing is predicted to propel the demand
for bleaching agent, which in turn, is expected to fuel the growth of market
over the forecast period. However, availability of substitute such as sodium
carbonate and other oxygen based bleaching agents is estimated to hinder the
growth of the market.
Segment Analysis:
The Global Sodium Percarbonate Market is segmented into type, application, end use, and
region. On the basis of type, the global market has been segmented into coated,
uncoated and tablet. Among these, coated type of Sodium Percarbonate dominate
the segment and accounted for around 60% market share among others. On the
basis of application, the market is divided into detergent agent, cleaning
agent, bleaching agent, water treatment, and others. Among these, detergent
agent segment has accounted for around 48% market share in 2016, with a market
value of USD 551.2 million and is predicted to grow with the highest CAGR of
11.09% during the forecast period. End use segment comprised of household
cleaning, laundry, industrial cleaning, textile industry, papermaking industry,
chemical industry, food industry, others. Household segment is expected to be
the largest segment and exhibit 53% of market share in 2016, with a market
value of USD 607.4 million and is predicted to grow with a healthy CAGR owing
to rising urbanization and growing purchasing power. Laundry holds the second
largest segment and is expected to grow with the highest CAGR of 8.29% during
the assessment period. Increasing population and rising tourism activities are
the key driving factors for the growth of laundry segment in the upcoming
years.
Regional Analysis:
Regionally, Sodium Percarbonate Market is segmented into five
regions namely North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa. Among all the regions, Europe dominates the
market and accounted for around 41% of the overall market share in 2016, and
predicted to reach USD 816 million during the review period. Asia Pacific is
expected to grow with the highest CAGR of around 8.25% during the assessment
period. China and India are expected to be the key dominating market due to
strong growth in industrial sector. In 2016, European market is trailed by Asia
Pacific, which is followed by North America. Developed regions such as Latin
America and North America are predicted to witness a significant growth owing
to stringent regulatory framework along with the high technology advancement.
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