Sodium Hypophosphite Market Trends

Growth Drivers

Strong demand from various end-use industries

Industrially, sodium hypophosphite is used as a reducing agent owing to which it is widely used in the electroplating application. In the process of nickel electroplating, particularly as reducing agents, sodium hypophosphite forms a chelate compound with nickel and helps to regulate the pH level that in turn resulted in improved surface properties and enhanced smoothness of the finished product.

Furthermore, increasing the use of sodium hypophosphite as a reducing agent in electroplating of non-metallic materials such as plastics, glass, ceramics, and quartz, among others, provides the impetus for the growth of the market. Over the recent past, with the expansion of electroplating applications, the market demand for electroplating applications is increasing in numerous industries such as automotive, aerospace, plastics, and ceramics, among others that in turn boost the overall demand for sodium hypophosphite market.

Additionally, sodium hypophosphite further finds application in the chemical and polymer industry, as a catalyst in the polymerization reaction and as a chemical intermediate in the production of hypophosphorous acid, diazo derivatives, and other organic compounds. Thus, with substantial growth of the chemical, polymer, and plastic industry across the world, market is expected to flourish in the future years.

Rising demand for sodium hypophosphite as a reducing agent in water treatment facilities

Metals are one of the utmost common contaminants in wastewater. Individuals can be exposed to these metals, which can cause health concerns such as dysfunction of the kidney, liver, reproduction system, and central nervous system. Hence, the release of such wastewater needs to be controlled and monitored. Sodium hypophosphite can prove to be an effective reducing agent for the retrieval of Ni, Cu, and Fe. Thus, sodium hypophosphite holds high-growth predictions in the coming years in water treatment applications.

Challenges

The current outbreak of COVID 19 has come up as a major hindrance as socio-economic conditions of many countries have been disrupted, the supply chain has been at a halt, prices in the market are fluctuating, and export-import have been affected. All these can come up as major constraints for the overall market growth.