Sodium Bicarbonate Market Analysis

Sodium Bicarbonate Market Analysis

Based on form, the sodium bicarbonate market is segregated into crystal/powdered crystal, liquid and slurry. Among these, crystal form sodium bicarbonate was valued over USD 1 billion in 2018 and will likely grow at significant rate by 2025. The product is usually used as a buffering agent, systemic alkalizer, topical cleansing solutions and an electrolyte replenisher. Slurry form sodium bicarbonate will witness the significant growth with more than 3.5% CAGR in future. The segment is majorly driven by increasing application in pharmaceutical and industrial in abrasives cleaning part.
 

Food & beverage, industrial, pharmaceutical, personal care, agrochemical and animal feed are the major end-users in sodium bicarbonate market. The other end-users include fire extinguisher, textiles, leather, etc. Among these, pharmaceutical segment was valued over USD 160 million in 2018 and is likely to grow with substantial rate in coming year. The product is used for the metabolic acidosis treatment and this may occur in severe renal disease, uncontrolled diabetes, circulatory insufficiency. Availability at low price and superior properties of sodium bicarbonate make it ideal for pharmaceutical application.
 

In terms of volume, Asia Pacific sodium bicarbonate market will experience significant growth rate of 5.2% from 2019 to 2024. Positive demand for sodium bicarbonate comes majorly from China, which has a rapidly growing population that utilizes the product on a large scale. North America region was valued more than USD 250 million in 2018 due to extensive utilization of sodium bicarbonates in various end-use industries. In North America, animal feed segment is expected to hold larger market size due to extensive consumption of animal feed products in order to increase the dairy products quality and quantity.