Sodium Percarbonate Market — Overview
The combination of the benefits of hydrogen peroxide and sodium carbonate in sodium percarbonate are fuelling the expansion of the market. Its application as a detergent and cleaning agent among other applications is expected to motivate the market in the long term. The market is also set to achieve considerable growth due to rising government regulations. The increasing per capita income is anticipated to boost the development rate in the upcoming forecast period.
Segmental Analysis
The segmentation of the market for Sodium Percarbonate is carried out on the basis of application, type, end use, and region. On the basis of type, the market is segmented into uncoated, coated, and tablet. Based on the applications the market is segmented into water treatment, cleaning agent, detergent agent, bleaching agent, and others. Among these segments, the detergent agent segment is responsible for about 48% market share among others and is anticipated to develop with a healthy CAGR of around 11.08% through the forecast period. On the basis of end use, the Sodium Percarbonate Market is segmented into laundry, household cleaning, textile industry, industrial cleaning, chemical industry, food industry, papermaking industry, and others. The regions included in the segmentation of the sodium percarbonate market are Latin America, Asia Pacific, Europe, the Middle East and Africa.
Detailed Regional Analysis
The region wise analysis of the market for sodium percarbonate covers regions such as Asia Pacific, Europe, North America, the Middle East, Latin America, and Africa. The European region has emerged as the foremost regional market in 2016 and is motivated by the development of many industries such as household, laundry, and industrial cleaning. The European region controlled about 41% of the overall market share on the basis of value in 2016 and is expected to advance with a substantial CAGR of around 8.31% through the forecast period. Germany, UK, and Russia are among the main contributors to the growth of the regional market and will maintain their authority through the forecast period on account of extensive utilization of sodium percarbonate in the household and textile sector. The Asia Pacific region is responsible for about 31% of the overall market portion in 2016 and is anticipated to observe a CAGR of around 8.25% in the course of the forecast period. The demand for sodium percarbonate is anticipated to rise in several nations of the Asia Pacific region such as India, China, and Japan due to developing industrial investments and a better standard of living.
Moreover, the MEA region is projected to observer a reasonable market growth rate, rising with CAGR of 7.94% through the forecast period. In the MEA region, UAE controlled the major market stake with a value of USD 17.2 million in 2016 and is estimated to persist in its dominance over the forecast period. The positive growth is credited to the growing use of detergent and cleaning agents in several end-use industries. The advanced regions such as North America and Latin America are projected to observe noteworthy development owing to the stringent regulatory framework along with an escalated technology adoption rate.
Competitive Analysis
Increased approachability to varied resources and capabilities is anticipated to compel the development of the market in the impending forecast period. The use of successful strategy execution techniques is estimated to have a positive effect on the future growth of the market. The employment of product differentiation has led to a favorable product differentiation scenario that is complementing the market’s growth. The participants in the market are trying to establish several USPs that will enable them to capture a more substantial share of the market. Additionally, the vertical additions and product tactics of the market is increasing the potential for the market players. The analysis of the market observes that the market is poised for an accelerated growth rate in the forthcoming years.
The central players in the Sodium Percarbonate Market are Evonik Industries AG, OCI Peroxygens LLC, Kemira, Khimprom, Solvay AG, Hogye Holding Group Corporation Limited, Wuxi Wanma chemical co., Ltd, JINKE Company Limited., Ltd, Jiangxi Boholy Chemical Co., and Hodogaya Chemical Co., Ltd.