Whats driving the Sodium Sulfide Market Growth? Solvay, Kunjan Chemicals, Nafine Group, Shenhong Chemical Industry Co., Athiappa Chemicals, Sankyo Kasei and Tessenderlo Group
Palpable demand from the leather industry where sodium sulfide uses in dehairing animal hides is likely to fuel sodium sulfide market share. The dramatic rise in consumer purchasing power and upsurge in the number of working women have propelled the demand for leather briefcases, footwear, and jackets that will potentially trigger growth in sodium sulfide share.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Kunjan Chemicals
3. Nafine Group
4. Shenhong Chemical Industry Co.
6. Athiappa Chemicals
7. Sankyo Kasei and Tessenderlo Group
Estimates claimed that low ferric sodium sulfide market size was worth US$ 180 mn in 2017 in the wake of its popularity in high-grade paper, PPS plastic, ore dressing, medicine industry, and printing and dyeing. Nevertheless, sodium sulfide offers several upsides such as solubility in both water and alcohol, high reactivity and high reducibility that are slated to unfold growth in sodium sulfide industry size.
Sodium sulfide market size is set to witness robust growth on account of increased demand from pulp and paper industry, textile industry, water treatment, and a range of chemical manufacturing processes, including sulfur dyes, rubber chemicals, and oil and recovery. In addition to the hydrate form, sodium sulfide tends to release hydrogen sulfide (H2S) provided it is in contact with moist air.
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Advent of improved wastewater treatment technologies and burgeoning population have been catalysts in augmenting sodium sulfide industry share. Nevertheless, sodium sulfide is moderately soluble in water vis-ŕ-vis other insoluble compounds including fluorides or oxides.
Spearheaded by the U.S. and Canada, North America sodium sulfide is set to grow moderately at a CAGR of around 3%. Steady growth in the region is highly attributed to increasing demand for copper ore from mining and construction industries. Prominently, the U.S. sodium sulfide market size from water treatment applications exceeded US$ 3.5 mn in 2017.
Notable development witnessed in transportation industry has led to demand growth of copper, thereby fueling North America market size expansion.
Regional Growth drivers are
1. Asia Pacific: Booming leather industry
2. Middle East: Rising usage of wastewater
Europe is set to provide lucrative opportunity to stakeholders as countries such as Germany, France and Spain registered over a quarter of global leather production. The growth is mainly attributed to easy access to premium raw materials and prevalence of technological leaderships.
Growth in sodium sulfide industry share is set to be unfolded by soaring popularity of technical grade in laboratory, manufacturing and industrial application. Markedly, technical grade is increasingly used as heavy metal remover in wastewater treatment, reducing agent in pharmaceutical industry, sulfur removal in viscose rayon and heavy water production in power plants. Accordingly, estimates predict technical grade sodium sulfide market to exceed US$ 460 mn by 2024.
Germany market from chemical processing applications is slated to experience growth rate of over 5% by 2024. Prominently, the product is used in manufacture of sulfur dyes meant for textile industry and an array of chemical applications such as sulfonization and sulfomethylation in the rubber industry.
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Meanwhile, sodium sulfide Industry size pertaining to textile industry applications is expected to exceed US$ 50 mn by 2024. Predominantly, the product acts as a bleaching agent for de-sulfurizing and provides the innate ability to minimize negative charges on fibers and enables balanced dye penetration.
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