Global Sodium Hydrosulfide Market Trends & Growth Analysis, Forecast 2019-2024 | Solvay, AkzoNobel, Genesis Energy, Tessenderlo Group, Daiichi Sankyo, Inc., Merck Millipore, Cayman Chemical, Nilkanth Group of Industries, Prasol Chemicals Ltd., Triveni Tur

The expansive consumer spending has encouraged rapid industrialization around the world, fueling the sodium hydrosulfide market size, with increased manufacturing activities giving rise to environmental concerns. Sodium hydrogen sulfide, chemically known as NaHS, has been found to be critical in treating industrial waste and is utilized for effective wastewater treatment to remove heavy metal contamination.

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 key source of heavy metal contamination in industrial waste is the automobile and associated segments such as glass and battery. Flat glass is commonly utilized across the automotive and construction industries as it can be easily adapted to doors, windows, mirrors, among other parts. Apparently, glass manufacturing and processing requires high purity water and various types of wastewater is generated from mirror production, polishing plants, and other areas. This waste mostly contains several pollutants, including heavy metals, indicating the need for water treatment and a lucrative potential for the APAC sodium hydrosulfide market.

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. Sodium Hydrosulfide Market share was over USD 240 million in 2017 and to forecast USD 1.4 billion by 2024. According to a new research report Sodium Hydrosulfide industry expects consumption of above 450 kilo tons by 2024.

Sodium Hydrosulfite Market by Process

• Zinc process
• Sodium formate process
• Others

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 Application

• Wood pulp bleaching
• Textiles
• Mineral flotation
• Others

Worldwide, the speedy recovery of the chemical sector and the rising exports of specialty chemicals has also bolstered the sodium hydrosulfide industry, as NaHS is extensively used for chemical processing by manufacturers. APAC is a well-known chemicals market and China is the main driver of chemicals demand around the globe. In 2016, China had also exported chemicals worth more than USD 54.29 billion, demonstrating its prowess the critical segment, establishing itself as a viable target for the sodium hydrosulfide market.

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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.

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.

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

Based on volume, fire retardant segment captured over 20% of the phosphate ester market share in 2017. The hydraulic fluid segment is poised to exceed USD 500 million by 2025. The miniaturization trend and fusion prototype sighted in industrial and consumer goods might create an assembly confront.

Phosphate ester hydraulic fluids are primarily used in industries where a significant fire hazard would exist if a rupture would occur in a hydraulic line. For example, its plays a vital role in aircraft carriers in aircraft catapult systems, flight deck elevators, steel mill equipment such as hydraulic doors on blast furnaces, control fluid for steam turbines for electricity generation.

Based on volume, North America driven by the U.S. will exhibit CAGR of over 7.5%. The regional triaryl phosphate ester market will capture close to USD 350 million by the end of forecast timespan. Moreover, huge expenditure in research & innovation and high technology industrial equipment in U.S. will augment the market growth by 2025.

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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