Pune, India -- (SBWIRE) -- 03/28/2018 -- Synopsis of Sodium Percarbonate:
Sodium Percarbonate is adduct of hydrogen peroxide and Sodium Carbonate in the form of a highly concentrated crystalline powder, mainly used for the cleaning purpose. It is a colorless, hygroscopic, and water soluble solid with chemical formula (2Na2CO3?ยท?3 H2O2). It is available in coated, uncoated, and tablet form. As it possess characteristics of hydrogen peroxide and Sodium Carbonate, it finds wide application scope as a detergent, cleaning agent, bleaching agent, and is also used in water treatment in numerous end use industries such as household cleaning, laundry, industrial cleaning, textile industry, papermaking industry, and food industry among others.
As per MRFR's Analysis, some of the market factors and trends identified in the Global Sodium Percarbonate Market include growth of papermaking sector, increasing demand for Sodium Percarbonate based products, and favorable government regulations. Increasing population, coupled with rising per capita disposable income is expected to propel the growth of the market over the forecast period. Sodium Percarbonate is widely used as a bleaching agent in textile industry. Growing purchasing power coupled with increasing demand for latest fashionable clothing is expected to fuel the growth of the market during the review period, 2016-2023. However, rising consumer awareness regarding the toxicity level associated with these, is expected to hinder market growth over the forecast period. With the aforementioned reasons, this market is estimated to reach USD 1981.2 million by 2023 with a CAGR of 8.24 % during the assessment period.
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Regional Analysis:
Geographically, Sodium Percarbonate Market is segmented into five regions viz. North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these, Europe emerged as the leading Sodium Percarbonate market in 2016, driven by the growth of numerous industries such as laundry, household, and industrial cleaning. Europe region accounted for around 41% of the overall market share (in terms of value) in 2016 and is expected to grow with the significant CAGR of around 8.31% over the forecast period. Germany, UK, and Russia are among the major contributors to the regional market growth and will continue their dominance during the forecast period on account of wide utilization of Sodium Percarbonate in textile and household sector.
Asia Pacific region accounted for around 31% of the overall market share in 2016 and is expected to witness CAGR of around 8.25% over the forecast period. The demand for Sodium Percarbonate is expected to surge in various countries of Asia Pacific such as China, India, and Japan on account of growing industrial investments and improved standard of living. Additionally, the Middle East & Africa is predicted to witness a moderate market growth rate, growing with CAGR of 7.94% over the forecast period. In Middle East & Africa, UAE accounted for the largest market share with a value of USD 17.2 million in 2016 and is expected to continue its dominance over the forecast period. The growth is attributed to the increasing use of detergent and cleaning agent in various end use industries. Developed regions such as Latin America and North America are estimated to witness a significant growth due to strict regulatory framework along with high technology adoption rate.
Segmentation:
The Sodium Percarbonate Market is fragmented on the basis of type, application, end use and region. On the basis of type, the market is classified into coated, uncoated, and tablet. On the basis of application, the market is categorized into detergent agent, cleaning agent, bleaching agent, water treatment, and others. Among these, detergent agent has accounted for around 48% market share among others and is expected to grow with a healthy CAGR of around 11.08% during the forecast period. On the basis of end use, the market is segmented into household cleaning, laundry, industrial cleaning, textile industry, chemical industry, papermaking industry, food industry, and others. On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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