The escalated usage detected for cleaning products in a diverse product range offering is influencing the demand for Sodium Percarbonate positively. Market reports related to the chemicals and materials industry have been offered by Market Research Future which makes reports on other industry verticals that endeavor to study the current market scenarios better. The market demonstrates the potential to achieve USD 1981.2 million in earnings while progressing with a CAGR of 8.24 % in the forecast period.
The rise in household incomes and savings coupled with the development of the facilities management sector are positively influencing the expansion of the Sodium Percarbonate Market. The escalated usage of detergent, cleaning agent, bleaching agent to maintain hygiene and reduce the effects of pollution is enhancing the growth of the market for sodium percarbonate fruitfully. The progress of the papermaking industry especially for novelty and specialty products is anticipated to create new opportunities for growth in the forecast period.
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The Segmentation Analysis of the Sodium Percarbonate Market is conducted on the basis of Application, Type, End Use, and Region.
Based on the Type, the sodium percarbonate market is segmented into uncoated, coated, and tablet.
Based on Application, the sodium percarbonate market is segmented into cleaning agent, detergent agent, water treatment, bleaching agent, and others.
The segmentation of the Sodium Percarbonate Market on the basis of End-Use comprises of laundry, household cleaning, industrial cleaning, chemical industry, textile industry, food industry, papermaking industry, and others.
Detailed Regional Analysis:
The regional evaluation of the Sodium Percarbonate Market covers regions such as Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa. The European displays leadership in the market motivated by the development of several industries such as household, laundry, and industrial cleaning. The European region is projected to develop with a noteworthy CAGR of around 8.31% over the forecast period. The nations of Germany, UK, and Russia are among the prominent contributors to the growth in the regional market and will maintain their power through the forecast period due to the wide utilization of Sodium Percarbonate in the textile and household sector.
The Asia Pacific region is anticipated to plot its development over the forecast period with a CAGR of around 8.25%. The requirement for Sodium Percarbonate is projected to rise in numerous countries in the Asia Pacific region such as China, India, and Japan due to increasing industrial investments and the elevated standard of living. Moreover, the Middle East & African regions are foreseen to observe a modest market growth rate, increasing with CAGR of 7.94% throughout the forecast period. In the Middle East & African region, UAE is credited for the principal market portion with a value of USD 17.2 million in 2016 and is expected to carry on its influence on the region’s progress over the forecast period. The development is accredited to the growing consumption of detergent and cleaning agent in several end-use industries. The developed regions in the market such as Latin America and North America are projected to perceive significant growth owing to the strict regulatory framework coupled with high technology adoption rate.
The market shows an escalated growth pace due to the positive influence exerted by the market forces. The absorbed costs in the market are easily dealt with, opening up more room for development in the market. The promotional and other related expenses are improved particularly due to the progress of the market. The competitors are devotedly undertaking the obstacles to development and are building strategies that can lead to a beneficial effect on the market’s growth. Certain regions in the market are expected to achieve an absolute advantage in the marketplace due to optimized strategies. The accretive nature of some of the assets in the market is expected to boost the growth potential of the market. Additionally, the alliances being created in the market are expected to further motivate the expansion of the market in the coming years.
The central players shaping the Sodium Percarbonate Market globally are Evonik Industries AG, Kemira, OCI Peroxygens LLC, Khimprom, Hogye Holding Group Corporation Limited, Solvay AG, Wuxi Wanma Chemical Co., Ltd, JINKE Company Limited., Jiangxi Boholy Chemical Co.,Ltd and Hodogaya Chemical Co., Ltd among others.
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