Sodium Bicarbonate Market Trends and Growth Projection to 2024 | Key Payers are Solvay, Tata Chemicals, FMC Corporation, Tosoh Corporation, Vitro S.A

Sodium Bicarbonate Market has recorded increasing returns over the recent years due to expansive use of the compound in manufacturing, food & beverages, agrochemical and various other industries. In the manufacturing sector a massive demand for sodium bicarbonate has been created due to its use as a soft abrasive blasting medium. Expanding demand for convenience foods has created a steady growth scope for sodium bicarbonate industry as well, reshaping the market outlook rapidly.

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By end-use sector, the sodium bicarbonate market is categorized into animal feed, food & beverage, industrial, pharmaceuticals, personal care and agrochemicals. Animal feed industry will hold a fair share of more than 20% in the product market, growing with a considerable rate by 2024. This is all due to its wide usage as an antacid to treat indigestion, heartburn and other applications.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Vitro S.A
2. Solvay
3. Natural Soda, LLC
4. Tosoh Corporation
5. BLASTRITE GULF FZE
6. Crystal Mark, Inc.
7. Tata Chemicals
8. Opta Minerals Inc
9. FMC Corporation
10. Beijing Haohua Nenrgy Resource. , Ltd

The expanding manufacturing sector has significantly supplemented sodium bicarbonate market trends. According to most recent data, manufacturers have been noted to contribute $2.38 trillion to the U.S. economy in the fourth quarter of 2018. Manufacturers in the U.S. perform 64 percent of all private-sector research and development in the country, bringing forth more innovation than any other sector. R&D in the manufacturing sector has risen from $132.5 billion in 2000 to $252.0 billion in 2017.

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Latin America sodium bicarbonate market will generate a revenue over USD 60 million by 2024 owing to rising industrialization, coupled with affordable raw material and production cost. Moreover, strict environmental regulations in the North American region is likely to affect changes in Latin American industrial ecosystem to curb emission levels, which will increase the use of sodium bicarbonate for the treatment process of flue gas.

According to the European Steel Association, steel consumption was up 1.3% in 2017 to 159 million tons. Indexed steel use in automotive was up by 3.7%, in construction by 4.8%, in mechanical engineering by 6% and by nearly 7% in tubes. The figures represent a steady growth in the consumption of steel. Similar growth patterns are expected to be witnessed by steel manufacturing sector which will also proliferate Europe sodium bicarbonate market share in the coming years. According to a research report compiled by Global Market Insights, Inc., Europe sodium bicarbonate market revenue is expected to exceed $400 million by 2024.

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The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2025.

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-The report analyses the various market segments and also provides their contribution to the development of the global industry.

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Decresearch, headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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