The sodium chlorate market will register a CAGR of over 4% by 2023
May 15 2019 - 9:25PM
PR Newswire (US)
NEW YORK, May 15, 2019 /PRNewswire/ -- About this
market
The increasing demand for sodium chlorate in the US will drive the
sodium chlorate market growth in the forthcoming years. The
increasing demand for paper and paper products in the US is
expected to fuel the growth of the market. As pulp and paper
manufacturing companies mainly consumed sodium chlorate for
producing chlorine oxide. Furthermore, in the mining industry,
sodium chlorate is used as an oxidizing agent for the treatment of
ore in the extraction of vanadium. Therefore, the growing need for
treating vanadium ore will enhance the use of sodium chlorate
during the forecast period. Analysts have predicted that the sodium
chlorate market will register a CAGR of over 4% by 2023.
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Market Overview
Easy availability of raw materials
One of the growth drivers of the global sodium chlorate market is
the easy availability of raw materials. The increasing demand for
sodium chlorate in the production of paper and paper products and
its growing consumption in end-user industries such as agriculture,
mining, and chemical manufacturing will enhance the consumption of
salt during the forecast period.
Problems related to sodium chlorate
One of the challenges in the growth of the global sodium chlorate
market is the problems related to sodium chlorate. Health hazards
from the use of sodium chlorate will negatively impact the growth
of the market during the forecast period.
For the detailed list of factors that will drive and challenge the
growth of the sodium chlorate market during 2019-2023, view our
report.
Competitive Landscape
The market appears to be fragmented with the presence of several
market players. Factors such as the easy availability of raw
materials coupled with the increasing demand for sodium chlorate in
the US will provide considerable growth opportunities to the sodium
chlorate market. This market research report will help clients
identify new growth opportunities and design unique growth
strategies by providing a comprehensive analysis of the market's
competitive landscape and offering information on the products
offered by companies.
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