Sodium Sulfide Market to witness heavy growth prospects via leather industry over 2018-2024 | Top Key Players are Daiichi Sankyo, Inc., Solvay, Tessenderlo Group, Innova, PVS Chemicals
Low ferric sodium sulfide market exceeded USD 180 million in 2017 owing to its widespread usage in PPS plastic, high-grade paper, leather, ore dressing, printing & dyeing, and medicine industries. The product possesses several advantages such as high reducibility, solubility in both water & alcohol and high reactivity which may further stimulate product demand.
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Technical grade sodium sulfide market should surpass USD 460 million by 2024 pertaining to rising usage in manufacturing, laboratory and industrial applications. It has extensive usage as a reducing agent in pharmaceutical industry, heavy metal removal in wastewater treatment, heavy water production in power plants, sulfur removal in viscose rayon, and in black dye manufacture which may further stimulate product demand.
Sodium sulfide market demand from pulp & paper applications should observe significant gains at over 6.5% by 2024 pertaining to rising demand for tissues and packaging papers in China, Greece, Bulgaria and Brazil. This product plays a vital role in processing of wood, bamboo, and bagasse fibers to pulp, the bleaching of this pulp and also imparts high strength to paper items.
North America Na2S market demand, led by Canada and the U.S. may witness growth at around 3% owing to rising demand for copper ore from construction and mining industries. Rising advancement in the transportation industry has led to high-speed trains development which require more copper as compared to conventional electric trains, thus stimulating product demand.
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Global sodium sulfide market share is consolidated among various industry participants such as Sankyo Kasei, Solvay, Nafine Group, and Shaanxi Fuhua Chemical Co. Several manufacturers focus on technological upgradation to improve product quality and achieving backward integration to ensure steady raw material availability.
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