The Sodium Hypophosphite Market is estimated at USD 664 million in 2019 and is projected to grow at a CAGR of 5.0% from 2019 to 2025, to reach USD 890 million by 2025.
Market is driven by its extensive use in various end-user industries such as automotive, electronics, water treatment, and construction. Massive transformation in the industrial sector has made Asia Pacific a high growth market for sodium hypophosphite manufacturers. The food sector is expected to be an emerging end-use as studies are underway for the multifunctional properties of the chemical in the food industry such as antioxidant, stabilizer, and antimicrobial.
Massive transformation in the industrial sector has made Asia Pacific a high growth market for sodium hypophosphite manufacturers. The region consists of populated countries such as China and India that have witnessed development in the electronics and automotive industries where hypophosphite finds widespread applications.
The growing industrialization has increased the amount of waste discharged in water bodies. Additionally, unregulated discharge of industrial and domestic contaminants into water bodies causes health problems in human beings and the destruction of aquatic life, thereby necessitating the use of water treatment chemicals. The polluted water further affects the use of water for drinking, recreation, household needs, transportation, and commerce.
Metals are one of the most common pollutants in wastewater. Humans can be exposed to these metals, which can cause health issues such as dysfunction of the kidney, liver, reproduction system, and central nervous system.
Thus, the discharge of such wastewater needs to be controlled and monitored. Sodium hypophosphite is an effective reducing agent for the recovery of Ni, Cu, and Fe as per the study, ‘The removal of Ni, Cu & Fe from a Mixed Metal System using Sodium Hypophosphite as a Reducing Agent’ by Promise Sethembiso Ngema, Freeman Ntuli, and Mohamed Belaid. Thus, sodium hypophosphite holds high-growth prospects in the coming years in water treatment applications.
The key players in global 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).