Sodium Hydrosulfite Market worth over $1.4bn by 2024
Published Date: July 3, 2017 Author: Global Market Insights, Inc.
Sodium Hydrosulfite Market size will likely surpass USD 1.4 billion by 2024; according to a new research report by Global Market Insights, Inc.
Significant development in the global textiles industry will propel the sodium hydrosulfite market in the forecast period owing to its extensive use as a bleaching agent in wool, cotton, and nylon. The product finds application as a dyeing auxiliary in vat dyeing and reduction clearing of disperse dyes. The global textiles market demand was over 90 million tons in 2016 and will likely reach 130 million tons by 2024. Increasing income level of consumers in emerging economies and increasing sales of apparels and footwears through e-commerce portals will steer the demand for textiles in the coming years. This will augment the sodium hydrosulfite market growth till 2024.
Product demand as a reducing agent in the synthesis of kaolin and metakaolin has been rising at fast rate and will provide new opportunities for the sodium hydrosulfite market to grow. It is used for enhancing the brightness of kaolin which is used to manufacture paper, ceramics, paints & coatings, fiberglass, plastics, rubber, and cement. Although the demand for the product in this application is low, high growth in kaolin and metakaolin manufacturing industry will likely boost the sodium hydrosulfite market in the future.
Sodium hydrosulfite is a flammable solid with a high chance of combustion in presence of open flames and sparks. When in contact with moisture or air, the substance heats spontaneously and may ignite and its decomposition releases toxic gases. It also has a possibility of ignition in presence of combustible materials or oxidizing agents. Exposure to the substance may cause irritation in eyes, skin, and the respiratory tract. These factors create hurdles in the handling, storing and transportation of the product and may hamper the global sodium hydrosulfite market development as end-user will look for other safer substitutes of the product.
Browse key industry insights spread across 115 pages with 140 market data tables & 11 figures & charts from the report, “Sodium Hydrosulfite Market Size By Process (Zinc Process, Sodium Formate Process), By Application (Wood Pulp Bleaching, Textiles, Mineral Flotation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Sodium hydrosulfite market has been categorized according to manufacturing process into three segments namely sodium formate, zinc and others. Sodium formate process is slowly gaining popularity over the zinc process due to its cost-effective nature.
Major application segments in the sodium hydrosulfite market are textiles, mineral flotations, wood pulp bleaching, and others which includes chemical industry, kaolin clay, food additive, water treatment, leather, etc. Textiles was the largest application segment in the sodium hydrosulfite market in 2016 and will retain its position till the end of the forecast spell. The segment will generate revenue above USD 700 million in 2024, gaining by more than 4% CAGR. It is widely used in textiles manufacturing as a reducing and bleaching agent.
Asia Pacific has been the most significant sodium hydrosulfite market and its overall industry share will likely exceed 70% by 2024. It is anticipated to generate revenue above USD 1 million in 2024. Asia Pacific is the largest product manufacturer and has a high demand from major textile and apparel manufacturing economies like China, India, Bangladesh, Pakistan, and Vietnam. Presence of many paper and pulp manufacturers in the region will also augment the sodium hydrosulfite market growth in upcoming years.
Guangdong ZhongCheng Chemicals, BASF SE, Jinhe Group, and AZ Chemicals are the four major companies in the global sodium hydrosulfite market accounting for a significant share of the overall industry in 2016. Other sodium hydrosulfite market participants are Bruggemann Chemical, Mitsubishi Gas Chemical Company, Chemtrade Logistics, TCP Limited, Montgomery Chemicals, Royce International Corp, Tokyo Chemical Industry, Finetech Industry Limited, Sigma-Aldrich, Triveni Interchem Pvt. Ltd., and Alfa Chemistry.
Sodium hydrosulfite market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Sodium Hydrosulfite Market by Process
- Zinc process
- Sodium formate process
Sodium Hydrosulfite Market by Application
- Wood pulp bleaching
- Mineral flotation
The above information is provided for the following regions/countries:
- North America
- Asia Pacific
- Latin America
- South Africa