Press release
Sodium Hydrosulfide Market Forecast Report to Hit $1.4bn 2018 to 2024 Top Companies Solvay , AkzoNobel, Daiichi Sankyo, Inc., Merck Millipore
Sodium Hydrosulfide Market
Important uses in the leather tanning, chemical processing and mining sectors have been driving the sodium hydrosulfide market growth for many years. However, it is expected that industrial cleaning and waste management would be a considerable revenue source in the near future, owing to the escalating need to prevent river and soil pollution.
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A brief overview of how textile industry is contributing toward swift expansion of sodium hydrosulfide market. The overwhelming growth being observed in the worldwide textile sector over the recent years has been instrumental in propelling the sodium hydrosulfide market trends.
In this regard, it would be prudent to mention that sodium hydrosulfide is being widely utilized as a bleaching agent in nylon, cotton, and wool textiles. In addition to this, sodium hydrosulfide has found usage in the textile sector as a dyeing auxiliary in reduction clearing of disperse dyes and vat dyeing as well.
In one of its reports published in 2016, India’s apex business organization Federation of Indian Chambers of Commerce & Industry (FICCI) noted that the global textile industry was worth USD 1.7 trillion and constituted about 2 percent of the world’s GDP. Moreover, the demand for apparels was more than 90 million tons in 2016 and is projected to reach 130 million tons by 2024, as per a few trusted estimates.
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Reports predict that by 2025, construction sector would be one of the biggest contributors to the global industrial output, accounting for nearly 13.5% share. China, India and Indonesia would be among the top seven countries in the world that will be responsible for up to 72% of the projected growth, underscoring the massive opportunities in APAC over the forecast period.
The region will also witness growing automobile production, a segment which also entails the progress of the glass production industry. Subsequently, the sodium hydrosulfide industry will take advantage of the mounting demand for glass and other products that release hazardous wastewater during production.
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.
Sodium Hydrosulfite Market by Process
• Zinc process
• Sodium formate process
• Others
Sodium Hydrosulfite Market by Application
• Wood pulp bleaching
• Textiles
• Mineral flotation
• Others
Browse key industry insights from the report, “Sodium Hydrosulfite Market Size, Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sodium-hydrosulfite-market
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Solvay
2. AkzoNobel
3. Henan Yinzhidu Environmental Protection technology Co., Ltd.
4. Genesis Energy
5. Henan Tianshui Chemical Co.
6. Tessenderlo Group
7. Chemical Products Corporation
8. Daiichi Sankyo, Inc.
9. Merck Millipore
10. Cayman Chemical
11. Nilkanth Group of Industries
12. Prasol Chemicals Ltd.
13. Ganga Chemicals - India
14. Chaitanya Chemicals - India
15. Akshya Minerals & Chemicals
16. Silicon Industries
17. Central Drug House (P) Ltd
18. Triveni Turbine Limited
19. Suvidhi Industries
20. Aditya Commercial Corporation - India
21. NAGAO
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.
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