Sodium Sulfide Market Future Growth Prospects Details for Business Development Explore By Global Key Players Daiichi Sankyo, Inc., Solvay, Tessenderlo Group, Innova, PVS Chemicals

Global sodium sulfide market is anticipated to witness a rather rapid growth over the next few years, owing to the increased disposable income among consumers and the rising demand from different industries such as paper, chemicals, textiles and leather goods. The compound is also utilized across other areas like metal production and water treatment, stretching its application scope to segments that get affected by a population upsurge. The fast-growing construction segment has sustained the consumption of copper, which is used to make numerous parts of a building, subsequently propelling the sodium sulfide industry as the compound is vital in ore processing.

Growth drivers

Asia Pacific: Booming leather industry

Middle East: Rising usage of wastewater

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Copper is an excellent heat and electricity conductor, besides having other suitable properties, making it ideal for heating systems, power transmission and various aesthetic parts of a building. The sodium sulfide market has benefited from the consistent demand for copper in construction sector throughout the world. A report suggested that the construction market is projected to grow annually at a rate of nearly 4.5% till 2020, a fact clearly supported by the vast population observed in the Asia-Pacific region. Boasting of a strong mining infrastructure and mounting investments in mineral exploration, the region could provide considerable propulsion to the sodium sulfide industry through the production of copper.

Worldwide trends have shown that Europe is moving faster towards sustainable construction, suggesting broader development prospects for the copper industry. Expounding the tremendous opportunities for the consumption of the metal, it is widely used in the manufacturing sector for making parts of automobiles, electronics and many other components. As such, mining companies are looking to expand their production of copper, even though it has already been one of the most mined ores in the human history. Increased ore processing activities to meet the global requirements will also bolster other industries involved in its production, including the steadily booming sodium sulfide market.

It was estimated that globally, around 19.7 million metric tons of copper was produced from mines in 2017, with consumption of the element currently standing at nearly 23.8 million metric tons per year. The evidence of a robust increase in the demand and use of copper, and subsequent proliferation of the sodium sulfide market, can be gathered by the efforts of companies like Excelsior Mining, who are seeking the development of new mines. In 2017, the company had received permission by Arizona regulators to open the state’s first copper mine in over a decade, boosting the supply of the element in the U.S. and the state’s own mining revenues.

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Germany sodium sulfide market demand 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 market growth.

India sodium sulfide market size may witness gains exceeding 4% in 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 market growth.

Prominent sodium sulfide manufacturers 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.

Sodium Sulfide Market, By Application
• Pulp & paper
• Water treatment
• Tanneries (leather industry)
• Chemical processing
• Textile industry
• Ore processing

Browse key industry insights spread across 220 pages with 210 market data tables & 49 figures & charts from the report, “Sodium Sulfide Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/sodium-sulfide-market

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