According to a new research report by Global Market Insights Inc., the Sodium Sulfide Market size is set to surpass $665 million by 2024. Increasing disposable income in India, China, Mexico, UAE and South Korea has led to a rise in preference for designer leather goods drive the growth of the global market.
Sodium sulfide is vital for dehairing process in tanneries where an alkaline mixture ensures the chemical dissolution of hair. Several European countries such as Italy, Spain, France and Germany account for about 25% of global leather production pertaining to the predominance of small-sized tanneries with high adaptability, access to premium raw materials and technological leadership which may further stimulate sodium sulfide market growth.
Global crystal segment may exhibit growth of about 6.5% through 2024. The product finds extensive use as an assistant in sulfide dyeing, chemical fiber devulcanization, and as an ingredient for manufacturing organic chemicals. The product is also used in rubber, engineering plastics, pharmaceuticals, chemical cleansers, and food additive manufacturing which may accelerate sodium sulfide (Na2S) market growth.
In 2017, U.S. sodium sulfide market from water treatment applications surpassed USD 3.5 million. Enhanced wastewater treatment technologies along with rising population have influenced the country to significantly increase its water reuse targets. The product is moderately soluble in water compared to other insoluble compounds such as oxides or fluorides and precipitates out heavy metal contaminants, which increases the product’s suitability as a reagent in wastewater treatment.
Browse key industry insights spread across 220 pages with 210 market data tables & 49 figures & charts from the report, “Sodium Sulfide Market Size By Product (Low Ferric Sodium Sulfide, Anhydrous Sodium Sulfide, Crystal Sodium Sulfide), By Grade (Technical, Purified), By Application (Pulp & Paper, Water Treatment, Tanneries (Leather Industry), Chemical Processing, Textile Industry, Ore Processing, Others), Industry Analysis Report, Regional, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
Germany from chemical processing applications may exhibit growth above 5% by 2024. The product has various chemical applications such as conducting sulfomethylation & sulfonization in the rubber industry, and manufacture of sulfur dyes for use in the textile industry. Moreover, it is widely used to manufacture pharmaceutical chemicals, sodium hydrosulfide and sodium thiosulfate for chemical and medical applications which may accelerate the sodium sulfide market share.
Na2S market with respect to textile industry applications may surpass USD 50 million till 2024. The product serves as a bleaching agent for de-sulfurizing and as a dechlorinating agent. Moreover, the product offers the ability to reduce negative charges on fibers and ensures even dye penetration which could further increase product demand.
India may witness gains exceeding 4% over the forecast timeframe. A booming construction & manufacturing industry has stimulated the demand for copper in the country. Sodium sulfide functions as a depressant of ferrous ores such as steel & iron and non-ferrous ores such as copper sulfide, zinc & magnesium ores which should further promote the sodium sulfide market growth.
Prominent manufacturers involve in sodium sulfide industry include Solvay, Kunjan Chemicals, Nafine Group, Shenhong Chemical Industry Co., Ltd., Athiappa Chemicals, Sankyo Kasei and Tessenderlo Group. Major firms are directing their efforts on expanding their production capacity to ensure rapid product supply along with achieving technological development to improve product quality.