The global sodium hypophosphite market is expected to grow USD 1,021.268 million by 2027, at a CAGR of 5.43% during the forecast period 2020-2027.

NEWARK, UNITED STATES, NEW JERSEY, September 2, 2021 /EINPresswire.com/ -- Fior Markets has recently released a research report titled Sodium Hypophosphite Market by Type (Electronic Grade and Industrial Grade), Applications (Reducing Agents, Chemical Intermediates, Flame Retardants, Analytical Reagents, Polymer Catalysts Ion Exchange Resins and Others), End-User (Electronics, Automotive & Transportation, Petroleum, Building & Construction, Pharmacy, Chemicals and Others), Region, Global Forecast 2020-2027.

The global sodium hypophosphite market is expected to grow from USD 669 million in 2019 to USD 1021.268 million by 2027, at a CAGR of 5.43% during the forecast period 2020-2027. Asia-Pacific currently holds the largest market share, which can be attributed to the presence of a large number of automotive and electronics manufacturers. The rise in industrialization in countries like China, India, Japan and South Korea is going to boost the use of sodium hypophosphite.

Key players of sodium hypophosphite are Jiangsu Kangxiang Industrial Group Co. Ltd., Jiangxi Fuerxin Pharmaceutical & Chemical Co. Ltd., Solvay, Zhejiang Zengxin Chemistry Co. Ltd., Hubei Lianxing Chemical Co. Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Arkema, Changshu New-Tech Chemicals Co. Ltd. and others.

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This study delivers a comprehensive analysis of types, applications, end-users and regions. The type segment includes electronic grade and industrial grade. Industrial grade holds a significant market share as they are widely used. Industrial grade sodium hypophosphite has an extensive applicability in different industries like manufacturing, processing, etc. The application segment includes reducing agents, chemical intermediates, flame retardants, analytical reagents, polymer catalysts ion exchange resins and others. The reducing agent segment is the dominating segment. The sodium hypophosphite is widely used as reducing agents for elements such as metals, glass, ceramics and plastics.

The end-user segment includes electronic, pharmacy & chemicals and others. Among all, the automotive and transportation accounts for the majority of the market share. It is used as coatings and adhesives in automobile. It helps in resistance against corrosion and heat. It is also used in surface plating on exteriors of the vehicles.

Sodium hypophosphite is also known as sodium phosphenite and sodium phosphinate. It is represented by the formula NaPO2H2 and appears as white crystals. It is sodium salt of hypophosphorous acid. It is found in the solid-state at the room temperature. It is odourless. It has high fluidity and high soluble characteristics. It is a water-soluble compound. It can also be dissolved in organic compounds. Also, it absorbs moisture from the atmosphere. It should be kept away from oxidizing material, in a dry and cool place. It is majorly used in electroless nickel plating. It is used in the production of synthetic organic as a chemical intermediate. Also, it acts as an antioxidant in the manufacturing of chemical and pharmaceuticals products. It provides strength and hardness to the substances. These properties are helping sodium hypophosphite to penetrate different industries. Furthermore, they are excellent reducing agents. They are used in various laboratories for carrying out different experiments.

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About the report:
The global sodium hypophosphite market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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