The sodium hypophosphite market is estimated to be valued at USD 664 million in 2019 and is projected to reach USD 890 million by 2025, at a CAGR of 5.0% during the forecast period. The global sodium hypophosphite market is expected to grow owing to its increasing demand from various end-use industries such as automotive, aerospace & defense, electrical & electronics, industrial machinery, medical device, and construction. The high demand backs the current market growth for sodium hypophosphite for reducing agents and antioxidants from the Asia Pacific region.
The key players in the sodium hypophosphite market include Arkema (France), Solvay S.A. (Belgium), Nippon Chemical Industrial Co., Ltd. (Japan), Sigma-Aldrich (US), Hubei Xingfa Chemicals Group Co., Ltd. (China), Changshu New-Tech Chemicals Co., Ltd. (China), Jiangxi Fuerxin Medicine Chemical Co., Ltd. (China), Jiangsu Kangxiang Industrial Group Co., Ltd. (China), Hubei Lianxing Chemical Co., Ltd. (China), Jiangsu Danai Chemical Co., Ltd. (China), Hubei Sky Lake Chemical Co., Ltd. (China), and Huanggang Quanwang Chemical Co., Ltd. (China).
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Arkema manufactures specialty chemicals and advanced materials. The company offers sodium hypophosphite through its subsidiary, Febex (Switzerland). Febex (Manufactures phosphorous derivatives). Arkema has a robust portfolio of sodium hypophosphite catering a diversified set of industries. It gives a significant amount of importance to R&D and has 15 R&D centers located at strategic locations, with a backup of 1,600 expertise. The company holds a lucrative opportunity in the emerging Asia Pacific region within the sodium hypophosphite market owing to the expansion of the chemicals and polymer industry in the region. The company faces fierce competition from Chinese players, as the majority of the sodium hypophosphite is being manufactured by Chinese companies; exporting their products to the US and Europe.
Solvay is an advanced material and specialty chemicals company. The company offers sodium hypophosphite to Europe, Asia, North America, and South America. It is used in metal cleaning and mining. The company sells its products in over 61 countries. In 90% of its portfolio, the company ranks among the top three leaders at a global level. Solvay’s sodium hypophosphite product is expected to create a lucrative opportunity in the coming years owing to the expansion of the industrial sector in the region. Apart from this, the company can expand its presence in Brazil, owing to the booming automotive industry in the region. It can increase its shares in the sodium hypophosphite market by penetrating the South American market as in Asia, China has a significant amount of presence, posing as a threat to the company. In South America, the industrial sector is expanding similar to the Asia Pacific region, making it a key growth market to look forward to the company.
Sodium Hypophosphite Market by Function (Reducing Agents, Catalysts & Stabilizers, Chemical Intermediates), Application (Electroplating, Water Treatment, Chemicals & Pharmaceuticals), Grade (Electrical, Industrial), and Region - Global Forecast to 2025
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