Sodium Hypophosphite - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Sodium Hypophosphite market is accounted for $582.36 million in 2018 and is expected to reach $1,051.28 million by 2027 growing at a CAGR of 6.8% during the forecast period. Growing demand for water treatment in industrial applications and expansion of the electronics and automotive sectors are the key driving factors. However, the rise in the price of phosphorous rocks owing to scarcity in supply is restraining the market growth.
Sodium hypophosphite (NaPO2H2) is the sodium salt of hypophosphorous acid and is often encountered as the monohydrate, NaPO2H2•H2O. It is solid at room temperature, appearing as odourless white crystals. It is soluble in water and easily absorbs moisture from the air. It is mainly used for electroless nickel plating. During the nickel electroplating, reducing agents i.e. sodium hypophosphite forms chelate compound by nickel and help to control the pH level that in turn resulted to improve surface properties and enhance the smoothness the finished products. The electroplating of the metal surface helps to improve its properties such as corrosion resistance, abrasion resistance, strength, and hardness, among others.
In terms of grade, the electrical segment is likely to have a huge demand during the forecast period. Sodium hypophosphite in its electrical grade is utilized for electroless nickel plating. Electroless nickel plating is increasing boundless adoption in the automotive and electronics sectors. By geography, Asia Pacific is estimated to have a lucrative growth due to the presence of large electronics and automotive manufacturers in the region and also the rise in industrialization in countries such as China, Japan, and South Korea is anticipated to expand at a rapid pace in the upcoming years.
Some of the key players in Global Sodium Hypophosphite market include Solvay, Nippon Chemical Industrial Co., Ltd, Arkema, Jiangxi Fuerxin Medicine Chemical Co., Ltd., Hubei Lianxing Chemical Co., Ltd., Sigma-Aldrich, Changshu New-Tech Chemicals Co., Ltd., Zhejiang Zengxin Chemistry Co., Ltd., Jiangsu Kangxiang Industrial Group Co., Ltd., and Huanggang Quanwang Chemical Co., Ltd.
• Other Grades
• < 99%
• ≥ 99%
• Ion Exchange Resins
• Chemical Intermediates
• Reducing Agents
• Analytical Reagents
• Polymer Catalysts
• Catalysts & Stabilizers
• Other Functions
• Public Utilities
• Chemicals & Pharmaceuticals
• Automotive & Transportation
• Building & Construction
• Water Treatment
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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