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I AgreeAnalysis of Sodium Sulfide Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The sodium sulfide consists of sodium salts that are moderately soluble in acid and water. These sulfides are sulfuric acid esters, which are generated when hydrogen atoms are replaced by sodium. The expansion of the chemical sector in emerging economies is expected to boost market growth in the forecast period. The global sodium sulfide consumption is expected to expand at a modest CAGR of 2.9 %.
The growing awareness about water scarcity has boosted the demand for the water purification process. Along with this, the state government has been urged to reuse water as a result of increased industrialization and urbanization. As sodium sulfide has a wide range of applications for the treatment of water, this, in turn, has fueled the business expansion.
In terms of volume, Latin America and Middle East Africa are predicted to grow at a CAGR of 3.1 % and 2.4 % respectively through the forecast period 2021-2031.
The water treatment chemicals have a wide range of industrial and power applications which is one of the primary reason driving the sodium sulfide sales. Moreover, In the Asia Pacific region, the rising population and urbanization have resulted in increased wastewater production which needs to be treated and hence there is a greater need for sodium sulfide for water treatment.
Another factor which is driving the demand for the sale of the product is a wide range of application of the product in paper and pulp industry as it is used in the heating of pulp. Along with this, the increase in the usage of the product as a food additive is anticipated to offer a significant opportunity. Not only this, the demand for product is projected to rise due to the increased demand for the product in the textile industry.
Sodium sulfide has a wide range of applications in the leather and tanning industry. It is mostly utilized as a de-hairing agent in the pre-tanning process. De-hairing is the first phase in the process of leather production, and it involves specific chemicals which are used to remove the animal skin.
De-hairing using sodium sulfide and lime is commonly used throughout many geographical regions involved in leather production because it is more efficient and more productive than other options available. During the assessment period, developing countries in the Asia Pacific region had a significant demand in the leather production. In terms of positive growth, this should boost the sale of the product.
For the entire forecast period between 2021-2031, the leather processing segments is expected to demonstrate significant growth in the terms of both value and volume.
Sodium Sulfide plays a major role in the ore processing unit which results in the rise of the sale in the North America region. The producers of the product are projected to see constant demand from ferrous and non-ferrous metals producers, particularly those involved in the ore flotation process.
Furthermore, with increase in the demand for ferrous metals like iron and steel, as well as non-ferrous metals like zinc, copper, and lead, has boosted ore processing business growth in the North America region. The product protects the ore surface from hydrophilic oxidation, boosting ore flotation, and thereby increasing the market value of sodium sulfide.
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The demand for the leather manufacturing industry in Asia Pacific region is very significant helping in producing and exporting numerous types of leather from animals for use in the garments and footwear sector. The sodium sulfide softens tough leather and is essential in the processing of animal skin, which takes the sales of the product to the greater heights.
Furthermore, due to rise in the income levels, strong economic growth and standard of living in the countries of Asia Pacific, region experiences an increase in demand for designer leather bags, footwear. Also, the product is used as an effective hair removal during leather manufacture and boosting the need for sodium sulfide.
Manufacturers, suppliers and distributors are among the key participants recognized across the globe which includes: Xintai Wanhe Chemical Ltd, China Nafine group international ltd, Solvay, Nafine Chemical Industry Group, Changsha Vahenry Chemical Ltd., Sichuan Shenhong Chemical Industry Ltd., Inner Mongolia Lichuan Chemical Corportaion Ltd and Shenzhou Jiaxin Chemical Ltd.
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Based on Applications, the market is segmented into:
Based on Product Type, the market is segmented into:
Based on Region, the market is segmented as
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 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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According to the latest research by Fact.MR, over the projected timeframe, global sodium sulfide consumption is anticipated to increase at a moderate 2.9% CAGR.
The sodium sulfide market witnessing major growth because the rising rate of urbanization has led to greater wastewater production that needs to be treated, necessitating a growing demand for sodium sulfide for water treatment.
The market is witnessing major growth as the rising rate of urbanization has led to high wastewater production that needs to be treated, necessitating a rising demand for sodium sulfide for water treatment.
The sodium sulfide market is likely to be worth US$ 576.64 Million in 2022.
The sodium sulfide market has high growth potential due to a surge in the usage for water treatment as an oxygen scavenger agent.
The manufacturers in the sodium sulfide industry are likely to find the most opportunities in the North American region.