Sodium Selenite Market: Introduction
Sodium selenite is the disodium salt of selenious acid. It is an inorganic form of the trace element selenium exhibiting potential antineoplastic activity. It is naturally found in plant foods, meat, and seafood, as well as in supplements. Selenium is nutritionally essential for humans and is a consisting of selenoproteins that play critical roles in DNA synthesis, thyroid hormone metabolism, reproduction, and protection from oxidative infection.
Global market is driven by the widespread consumption of sodium selenite in the feed additive and dietary supplement application. In feed additive for poultry and farm animals, sodium selenite offers increased efficiency of egg, meat and milk production and also enhances its quality. Furthermore, owing to its array of health benefits, it is used as a dietary supplement ingredient. Various health benefits associated with the consumption of trace sodium selenite include its cancer-fighting abilities, combating thyroid disease, treating cellulitis, and lowering risks for HIV, diabetes, and cardiovascular disease. Thus, the healthier food choices of the consumers coupled with livestock trading is a key driver for the global sodium selenite market.
Besides its conventional use, sodium selenite is mainly used in the manufacture of colourless glass, which has been foreseen to be its dominant application throughout forecast period.
Glass and Pesticide Manufacturing to Propel the Sodium Selenite Market Growth
Glass industry uses sodium selenite as a colouring as well as a decolouring agent, where it is used to add pink colour and to remove green colour from the glass. Extensive use of glass across a wide range of end-use industries such as automotive, electronics, consumer goods, building & construction is a key factor that drives consumption of sodium selenite in glass making. High public and private spending on renovation and new construction activities across the globe have pushed demand for steel and glass, which is likely to positively influence sodium selenite market growth. Furthermore, sodium selenite also finds its application in pesticide formulation whose demand is foreseen to have high growth.
However, sodium selenite is toxic and require careful handling. Thus, additional handling and safety measure associated with sodium selenite is set to hamper market growth.
Segmentation Analysis of Sodium Selenite Market
The global sodium selenite market has been segmented into three main segments: purity, grade, application, and region.
On the basis of purity, the global sodium selenite market has been segmented into:
On the basis of grade, the global sodium selenite market has been segmented into:
Based on application, the global sodium selenite market has been segmented into:
- Animal Feed
- Dietary Supplement
Based on the region, the global sodium selenite market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Sodium Selenite Market: Regional Outlook
Regionally, the global sodium selenite market is studied for six regions, namely, North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA.
Global sodium selenite market is fastest-growing in East Asia and South Asia & Oceania, on account of the high demand from animal feed, glass, and agrochemicals applications. High demand for sodium selenite in pesticide and animal feed in the regions can be attributed to the presence of major agricultural countries such as China, India, Vietnam, Thailand, and others.
Markets in North America and Europe are projected to showcase a significant demand for sodium selenite on the backdrop of the growing construction and food industry. Recent past witnessed, a significant rise in healthcare expenditure for these regions, which sets immense opportunity for sodium selenite to be used in drugs and health dietary. Furthermore, Latin America & Middle East is expected to witness stagnant demand and will mostly rely on importing sodium selnite.
Key Players of Sodium Selenite Market
Some of the prominent players in the global sodium selenite market include American Elements, Omkar Speciality Chemicals Ltd., Retorta, Vital, and others. The market has not witnessed any recent key developments by the manufacturers, which indicates a low intensity of rivalry among existing players. The growth for the sodium selenite market is expected to be steady, therefore, the market will witness fewer new entrants.
The research report presents a comprehensive assessment of the sodium selenite market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The sodium selenite market report provides analysis and information, according to market segments such as geographies, grade, purity and application.
Sodium Selenite Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Sodium Selenite Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of South Asia & Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
The sodium selenite report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The sodium selenite report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The sodium selenite report also maps the qualitative impact of various market factors on market segments and geographies.
Sodium Selenite Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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