Global Sodium Hypophosphite Market

Global Sodium Hypophosphite Market Size & Analysis - By Function (Reducing Agents, Catalyst & Stablizers, Chemical Intermediates, Others), By Grade (Electrical, Industrial, Others), By Application (Electroplating, Water Treatment, Chemicals & Pharmaceuticals, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-Use Landscape; Vendor Landscape and Competitive Landscape - Forecasts To 2026

Category Chemicals & Advanced Material
Format
  • ms word
  • ms excel
  • ms ppt
  • pdf
This report was recently updated on September 30 2024 with the latest and most recent market numbers

The global sodium hypophosphite market is expected to grow at a significant CAGR over the forecast period. The growing demand due to fast growing automotive and chemical industry among others is projected to boost the market growth over the coming years. Stringent government regulation along with increased demand from waste water treatment industry is expected to drive the market of sodium hypophosphite. 

Sodium Hypophosphite Market

The market growth is because of the presence of major manufacturers, growing food industry, and increase in the automotive manufacturers which is further anticipated to complement the market growth over the forecast period.

Based on function, the global market for sodium hypophosphite can be segmented into reducing agents, catalysts & stabilizers, and chemical intermediates among others. Increasing water treatment activity along with increased demand from automotive and electronics industry are some of the factors expected to propel the growth of reducing agent segment.   

On the basis of grade, the global market for sodium hypophosphite market is segmented into electrical, and industrial among others. The market has witnessed an increased adoption of sodium hypophosphite across various industrial applications because of its multifunctional properties. Electroless nickel plating application of sodium hypophosphite makes it an ideal product to be used in electronics, automotive, and chemical industries.

Based on the application the global market for sodium hypophosphite is segmented into electroplating, water treatment, and chemicals & pharmaceuticals among others. The electroplating segment is expected to grow at highest CAGR during the forecast period. Sodium hypophosphite is widely used for electroplating applications. Fast growing electronics and automotive industry are some of the major factors expected to increase the demand for electroless nickel plating application. The corrosion resistance property of electroless nickel plating makes it an ideal choice for both the industries, i.e. industrial and electronics.

Request for a sample copy of the report @: Global Sodium Hypophosphite Market 

Global Sodium Hypophosphite Market Drivers:

Expansion of the Electronics Sectors in the Asia Pacific Region:

Sodium hypophosphite is used as a reducing agent, catalyst & stabilizer, and chemical intermediate in different end use industries. Sodium hypophosphite acts as a reducing agent for electroless nickel plating application and finds its usage in the electronics and automotive industry. Electroless nickel plating is gaining widespread acceptance in the automotive and electronics industry. Sodium Hypophosphite has found applications in various end use industries such as aerospace & defence, automotive, electric & electronic water treatment, and pharmaceuticals among others. The presence of major electronics companies such as Toshiba, Samsung, Panasonic, and LG Electronics among others directly contributes to the usage of sodium hypophosphite in APAC region. These companies are expanding their production at a high pace to compete in the market and develop new products. Raising new technologies and rapid urbanization is expected to create new growth opportunities for sodium hypophosphite manufacturers in APAC region. 

The electronics sector is the largest export sector in APAC region which is 25% of the region’s total exports in goods. According to the data published by ASEAN secretariat, 80% of the world’s hard drives are produced in Asian countries. Electrical & electronics sector is the most important sectors, which provide more than 2.5 million jobs in the region. Thailand electronic base consisted of over 2300 companies and the country is recognized as a global leader in the production of integrated circuits and semiconductors. The Philippines is involved in supplying more than 2.5 million hard drives across the world every month. Malaysian electrical and electronic sector has more than 1695 companies with total investments of USD 35.5 billion in 2018.

China is the world's largest manufacturing for electronic products, including televisions, computers, handsets and DVD players among others. The electronic manufacturing industry in China was set to grow at 11.2% in 2018 to reach $282.92 billion, with average annual increase of 8.1% in the past five years. Technological trends in artificial intelligence, internet of things, and 5G and other electronic devices are some of the major factors driving the electronics devices segment in APAC region. The major companies holding largest market share in electronic components manufacturing in China include Tianjin Jinya electronics, Foxconn technology group, Guangdong Fenghua advanced technology and Chaozhou three circle group among others.

Rise in Demand for Water Treatment in Industrial Applications:

The growing industrialization has increased the amount of waste in water sources. Wastewater from industries contains metals such as copper, nickel, iron, silver, and mercury among others. The disposal of waste water in the environment is strictly prohibited in many countries due to the presence of the pollutants in the water. Industries are increasingly adopting water treatment process to reduce the pollutants and chemicals and thereby making the water reusable for industrial applications. Water treatment is widely used to optimize most water-based industrial processes, such as cooling, heating, processing, rinsing, and cleaning. Industrial water treatment is used to tackle different problem areas including scaling, corrosion, microbiological activity and disposal of residual wastewater among others. The industrial water treatment can range from relatively compact and straight forward to complex multiunit processes. The wastewater from industries is causing many diseases and polluting the environment with the chemicals. The metals content in the waste water cause health issues such as dysfunction of the kidney, liver, reproduction system, and central nervous system among humans and animals. Sodium hypophosphite is an effective reducing agent for the recovery of Ni, Cu, and Fe among others chemicals. Thus, sodium hypophosphite holds high-growth prospects in the coming years in water treatment applications. The advancements in water treatment technology are growing according to the industry. The mechanical filtration, such as reverse osmosis, is widely employed to filter contaminants in water content.  Some of water retreatment technologies including ozone generators, wastewater evaporation, electrode ionization, and bioremediation are also used to address the challenges of industrial water treatment. Industries including pharmaceutical, chemical, oil & gas thermal power plants and food processing among others use waste water treatment technology for purification process. Increasing number of food processing industries across the globe is expected to drive the market. MEA region is expected to drive the market of sodium hypophosphite because of the presence of number of oil & petroleum players in the region.

Check the Press Release on Global Sodium Hypophosphite Market Report

To request a free sample copy of this report, please complete the form below

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe. Privacy

Sodium Hypophosphite Market

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Sodium Hypophosphite Market.

Sodium Hypophosphite Market

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Sodium Hypophosphite Market

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.

Sodium Hypophosphite Market

We value your investment and offer free customization with every report to fulfil your exact research needs.
This website is secure and your personal details are safe. Privacy
You can also purchase parts of this report. Do you want to check out a section wise price list?

Tailor made solutions just for you

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

OUR CLIENTS

  • Client of Global Market Estimates - Fedex
  • Client of Global Market Estimates - Samsung
  • Client of Global Market Estimates - Siemens
  • Client of Global Market Estimates - Lonza
  • Client of Global Market Estimates - DuPont
  • Client of Global Market Estimates - Medtronic
  • Client of Global Market Estimates - Toray
  • Client of Global Market Estimates - Signify
  • Client of Global Market Estimates - Teledyne
  • Client of Global Market Estimates - Trelleborg
  • Client of Global Market Estimates - Kikkoman Biochemifa
  • Client of Global Market Estimates - Leoni
  • Client of Global Market Estimates - Molnlycke
  • Client of Global Market Estimates - Spirent
  • Client of Global Market Estimates - Tokyo Electron Limited
  • Client of Global Market Estimates - Aranca
  • Client of Global Market Estimates - Asahi Kasei
  • Client of Global Market Estimates - Chimai
  • Client of Global Market Estimates - Grapsud
  • Client of Global Market Estimates - Horiba
  • Client of Global Market Estimates - Indorama
  • Client of Global Market Estimates - L&T
  • Client of Global Market Estimates - Integralife
  • Client of Global Market Estimates - Synamedia
  • Client of Global Market Estimates - Sorrento Therapeutics
  • Client of Global Market Estimates - Solenis
  • Client of Global Market Estimates - Sartorius