Sodium Hydrosulfide Market Forecast and CAGR
According to a recent research study by Fact.MR, the sodium hydrosulfide market is anticipated to witness a CAGR of 4% during 2021-2031 and likely to offer promising stance to the manufacturers globally. The higher consumption in cloth and paper manufacturing industries is attributed to providing a significant growth rate during the forecast period.
What is Driving Demand for Sodium Hydrosulfide?
Sodium hydrosulfide is white appearing crystalline powder which makes it applicable for paper and textile industries. As the textile industry has witnessed a notable growth in the last decade it has affected the demand for sodium hydrosulfide. The versatility of sodium hydrosulfide is anticipated to create sufficient demand in other industries as well.
The utilization in water treatment practices accounts for noteworthy demand of sodium hydrosulphide and anticipated to surge the sale during the forecast period due to rising water pollution.
It is cost-effective compared to other alternative chemicals available in the marketplace for textile industry. This chemical used in textile industry for bleaching and as a reducing agent. Zinc process-based sodium hydrosulfide hold a bigger share compared to the sodium formate process, and is projected to have a bigger share over the assessment period.
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What Factors and Influencing Sales of Sodium Hydrosulfide?
COVID-19 pandemic has affected all economies across the globe. Due to COVID-19 protocols the supply chain has been disturbed in Q3 and Q4 of 2020. Along with it, demand from manufacturing industries was constrained. However, market is showing optimistic growth opportunities in early 2022.
It is used in the paper and pulp industry for bleaching brightening and de-colorization of recycled and virgin fibers. With digitalization and invention such as e-readers like amazon kindle and i-pad have affected the pulp and paper industry. The production of paper has seen a decline and this has resulted in decreased sales of sodium hydrosulfide.
However the utilization in food industry due to its antioxidant properties has witnessed convenient growth outlook since past few years, is projected to follow the same trend during the forecast period.
The rising consumption in chemical industries is likely to provide momentum in sale in upcoming years since it works as a dechlorinating and desulphurising agents.
Asia Pacific Sodium Hydrosulfide Market Outlook
Asia Pacific region dominates the sodium hydrosulfide market since it holds the largest share of this the market globally. China has the highest number of textile mills across the globe, which has witnessed magnificent demand in historical years and likely to follow same trajectory during the forecast period.
Moreover, the consumption for chemical industries also account for significant sale and is expected to create plethora of opportunities for manufacturers in Asia Pacific.
China holds the biggest share in Asia Pacific. The evolving textile industry in the country will be highly influential for the sales. In utilization of sodium hydrosulfide in wood industries is expected to surge in other Asian countries like India, Japan, Singapore, Malaysia, Korea and others.
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North America and Europe Sodium Hydrosulfide Market Outlook
North American and European countries have seen slower growth in demand compared to countries in Asia. This is due to the fact that, the declining rate of paper and pulp industry. More than 36% of utilization was involved with paper and pulp industries in this region.
However, the textile industry in these regions are witnessing significant growth, which will drive the sales for processing of indigo dye and vat dye. Moreover, the demand from water treatment operations and food industries is anticipated to surge during the forecast period in this region.
Who are the Key Manufacturers and Suppliers of Sodium Hydrosulfide?
Some of the leading manufacturers and suppliers of sodium hydrosulfide include BASF SE, AZ Chemicals Inc., Guangdong ZhongCheng Chemicals Inc., Ltd, Montgomery Chemicals LLC, Bruggemann Chemical, Tokyo Chemical Industry, Mitsubishi Gas Chemical Company, Chemtrade Logistics, Jinhe Group and other prominent players.
For acquiring a dominant position on the globe, key manufacturers are emphasizing on the adoption of inorganic growth strategies such as mergers, acquisitions, collaborations and partnership with companies. For instance, Companies like Jinhe chemicals and BASF SE have integrated ventures.
Moreover, leading manufacturers have streamlined their supply chain network with the online and offline distribution channels to gain more market value. The market is the highly fragmented with abundant number of players operating globally.
An Adaptive Approach to Modern-day Research Needs
Sodium Hydrosulfide Market Report Highlights:
- Detailed overview of 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
- Sodium Formate Process
- Zinc Process
- Mineral Flotation
- Wood Pulp Bleaching
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Oceania
- New Zealand
- Rest of South Asia & Oceania
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The 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 report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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