The sodium hypophosphite market is projected to grow at a CAGR of 5.0%
NEW YORK, Sept. 17, 2019 /PRNewswire/ -- The sodium hypophosphite market is projected to grow at a CAGR of 5.0%, in terms of value.
The global sodium hypophosphite market is estimated to be valued at USD 664 million in 2019 and is likely to reach USD 890 million by 2025, growing at a CAGR of 5.0% during the forecast period. The Asia Pacific region, backed by the development of its electronics and automotive industry, holds high growth prospects for sodium hypophosphite manufacturers in the years to come.
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Sodium hypophosphite is the widely used chemical for electroplating application.The automotive and electronics industries utilize the electroless nickel plating application.
Countries such as China, Vietnam, Japan, South Korea, Taiwan, and Thailand are expected to be major revenue generators.
The reducing agent segment in sodium hypophosphite market is estimated to account for the largest share in 2019.
Based on function, the reducing agent segment is estimated to account for the largest share in the sodium hypophosphite market in 2019.Industrialization has led to an increase in the discharge of waste in water bodies.
Sodium hypophosphite acts as a reducing agent and removes metals from industrial waste before being discharged into water bodies. Apart from this, it holds lucrative opportunities in the coming years for its electroless knuckle plating application where it acts as a reducing agent.
The electrical grade segment in the sodium hypophosphite market is estimated to account for the largest share in 2019.
Based on grade, the electrical grade segment is estimated to account for the largest share in the sodium hypophosphite in 2019.The electrical grade of sodium hypophosphite involves the application of electroplating.
The electrical grade sodium hypophosphite finds use in the electronics and automotive industries. These industries are developing at a high pace in the Asia Pacific countries, especially countries such as China and India.
The electroplating segment in the sodium hypophosphite market is estimated to account for the largest share in 2019.
The automotive and electronics industries utilize the electroless nickel plating application.The corrosion resistance property of electroless nickel plating makes it an ideal choice for both the industries.
The Asia Pacific region, a hub of export of electronic products, has high growth prospects for sodium hypophosphite manufacturers in the coming years. Key revenue generating countries in the region include China, among the largest producer of electronics at a global level, Vietnam, Japan, South Korea, Taiwan, and Thailand, the hub of production of hard drives, semiconductor, and integrated circuits
The Asia Pacific sodium hypophosphite market is projected to witness significant growth.
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.
The booming automotive and electronics industries hold high growth prospects for sodium hypophosphite manufacturers in the coming years in the region.China, a global hub of electronic products, further adds to its demand.
The country dominates the export market for sodium hypophosphite owing to the presence of a large number of phosphorus reserves. The region is a key market for sodium hypophosphite due to the development of the industrial sector across all the countries in the region.
Break-up of Primaries:
-- By Company Type: Tier 1 - 20 %, Tier 2 - 40%, and Tier 3 - 40%
-- By Designation: C-level - 30%, Director-level - 20%, and Others* - 50%
-- By Region: Asia Pacific - 10%, Europe - 20%, North America - 60%, and RoW**- 10%,
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America and the Middle East & Africa.
Leading players profiled in this report:
This report includes a study of marketing and development strategies along with the product portfolios of the 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).
Research Coverage:
The report segments the sodium hypophosphite meat market based on grade, function, application, and region. In terms of insights, this report has focused on various levels of analyses--competitive landscape, end-use analysis, and company profiles--which together comprise and discuss views on the emerging & high-growth segments of the global sodium hypophosphite high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
-- To get a comprehensive overview of the sodium hypophosphite market.
-- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them.
-- To gain insights about the major countries/regions, in which the sodium hypophosphite market is gaining popularity.
Read the full report: https://www.reportlinker.com/p05812012/?utm_source=PRN
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