Sodium Hypophosphite Market Key Drivers, Restraints & Challenges:

Posted on 2021-01-25 by MarketsandMarkets in Chemicals, Food & Beverage, Healthcare // 0 Comments

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.

Sodium hypophosphite is the sodium salt of hypophophorous acid and is often encountered as the monohydrate. It is an odorless white crystal, remains solid at room temperature, soluble in water, and easily absorbs moisture from the air. The global sodium hypophosphite market is expected to grow owning to its increased demand from various end use industries such as automotive, and aerospace & defense.

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Key Drivers:

Expansion of the electronics and automotive sectors in the Asia Pacific region
Rise in demand for water treatment in industrial applications

Key Restraint & Challenge:

Rise in the price of phosphorous rocks owning to scarcity in supply
Availability of alternatives in the market

Grades of Sodium Hypophosphite :

Sodium hypophosphite has been gaining widespread acceptance across various industrial applications owning to its multifunctional properties. It is renowned for its application as a reducing agent in electroless nickel plating which makes it an ideal product to be used in the automotive, electronics, and chemical industries. It holds high growth prospects in the Asia Pacific region owning to the expansion of the industrial sector.

Electrical
Industrial
Others

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Top 10 players in sodium hypophosphite industry:

The competitive landscape provides an overview of the relative market position of the key players operating in the sodium hypophosphite market, based on the strength of their project offerings and business strategies, analyzed based on a proprietary model. Key players in the market have majorly adopted strategies such as new product launches, agreements, collaborations, and joint ventures, expansions, and acquisitions. Some of the major players in the market are:

Arkema
Solvay
Nippon chemical Industrial Co Ltd
Stigma-Aldrich
Hubei Xingfa Chemicals group Co Ltd
Changshu New-Tech Chemicals Co Ltd
Jiangxi Fuerxin Medicine Chemical Co Ltd
Jiangsu Kangxiang Industrial Group Co Ltd
Hubei Lianxing Chemical Co Ltd
Jiangsu Dan AI Chemical Co Ltd

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