Market Overview:
Sodium
Sulfide are the source of sodium that are moderately soluble in acid and water.
These sulfides are the esters of the sulfuric acid that are formed by
replacement of hydrogen atoms by metal (sodium). The global sodium sulfide
market is expected to grow at healthy CAGR during the forecast period. One of
the major factors that drives the sodium sulfide market are increasing demand
of water treatment chemicals in power and industrial applications.
Additionally, various environmental norms and regulations regarding produced
water and wastewater disposal are also boosting the growth of the market.
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Growing
population and rapid urbanization in the Asia Pacific region have led to
increased generation of wastewater and increased need of sodium sulfide for
water treatment. Another factor that drives the sodium sulfide market is rising
use of sodium sulfide in pulp and paper industry during Kraft process for
cooking of pulp. Moreover, use of sodium sulfide for removal of hair from hides
during leather processing is expected to offer growing opportunity for it in
tanning industry.
Industry Segmentation:
By grade,
the global sodium sulfide market is segmented in to purified and technical
grade. Among these, technical grade accounted for largest share in the global
market. Technical grade sodium sulfide act as oxygen scavenging agent in water
treatment, dechlorinating agent in leather and sulfonation agent in chemical
industry which is expected to dominate segmental market during review period.
On the
basis of application, the global sodium sulfide market has been categorized
into pulp & paper, chemical processing, water treatment, textile, tanning,
ore processing, others. The water treatment segment held the major market share
in 2017, which mainly attributed to the surging water treatment chemical demand
for wastewater treatment in chemical, power, pulp & paper, municipal, oil
& gas, food & beverages, agriculture and mining industries in Asia
Pacific region.
Based on
region, the global sodium sulfide market has been segmented into Asia-Pacific,
North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest market share in 2017 and is projected to
grow at the highest CAGR during the review period. In Asia-Pacific, China,
Japan, South Korea, and India are the major contributors to the growth of this
regional market. China is the largest consumer and producer, not only in this
region but also across the world. This is mainly attributed to the vast growth
of application industries such as pulp & paper, chemical processing, water
treatment, textile, tanning, ore processing in this country. By 2020, China
alone is anticipated to account for approximately half of the global sale.
China is followed by India. India is set to grow at the highest CAGR during the
review period on account of the increasing sodium sulfide processing capacity,
technological advancements and rapid
industrialization in the region. Additionally, lower labor costs , favorable
government policies for industrialization, rapid growth of the water treatment
chemical industry, and widening scope of applications for the sodium sulfide
are the primary factors driving growth of this countries market during the
forecast period.
The
increasing demand for the sodium sulfide in the ore processing and chemical
processing is likely to propel the market growth in Europe and North America
region. UK, Russia, Germany and US are the major markets in these regions. This
is mainly due to their vast potential for investment in new technologies for
the ore and chemical processing in these countries.
The market
in the Middle East & African region is expected to grow at positive CAGR in
the coming years. Saudi Arabia, Turkey, South Africa, and UAE are expected to
be the major countries contributing to market growth in the region.
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Key Players
· PJ
Chemicals
· Athiappa
Chemicals
· Shaanxi
Fuhua Chemical Co., Ltd.
· Sichuan
Shenhong Chemical Industry Co., Ltd
· Iran
Sodium Sulphide Company
· Sankyo
Kasei
· Hebei
Xinji Chemical Group Co.
· Solvay,
Longfu Group
· Nafine
Group International
Intended
Audience:
- Sodium sulfide manufacturers
- Traders and distributors of sodium sulfide
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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Note: Our Team of researchers are
studying Covid-19 and its impact on Various industry Verticals and wherever
required we will be considering Covid-19 footprints for a better analysis of
markets and industries. Cordially get in touch for more details.
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