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Global Sodium Sulfide Market to Record Robust CAGR of 2.9% in the Forecast 2024
Sodium Sulfide Market
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Application Sodium Sulfide for Ferrous & Non-Ferrous Metal Production to Propel its Market Growth
Sodium sulfide is widely utilized in dehairing process for leather production owing to its relatively higher effectiveness, efficiency and efficaciousness than other alternatives. The market is expected to grow on account of sodium sulfide applications in ore processing. Sodium sulfide manufacturers are likely to witness steady demand from ferrous and non-ferrous production companies, especially those in the ore floatation process.
However, in spite of steady demand from end-use industries, market growth will remain sluggish over the forecast period owing to the hazardous effects of sodium sulfide. The broader industry-wide scrutiny by regulatory authorities will negatively impact demand for sodium sulfide, with cleaner, less harmful chemicals gaining traction.
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Key Findings in the Report Include
Regular grade sodium sulfide will continue to remain sought-after among manufacturers. This product type segment accounted for 95% revenue share of the market in 2016. The status-quo is projected to remain unchanged during the forecast period.
Leather processing remains the largest end-user of sodium sulfide. This segment will grow at a higher CAGR than the overall market, reaching () Mn by 2024. Demand will also remain steady in the pulp and paper industry.
In addition to Asia Pacific, Latin America and Europe will remain the other leading markets for sodium sulfide. Manufacturers in these markets will continue to use sodium sulfide for leather production. Latin America and Middle East & Africa (MEA) are expected to reflect 3.1% and 2.4% CAGRs respectively in term of volume during the forecast period.
Company Profiles
Solvay s.a.
Longfu Group
Nafine Chemical Industry Group Co., Ltd
Inner Mongolia Lichuan Chemical Co., Ltd
Xintai Wanhe Chemical Co.Ltd
China Nafine group international co ltd
Tessenderlo Group
Sichuan Shenhong Chemical Industry Co., Ltd.
Shenzhou Jiaxin Chemical Co., Ltd
Changsha Vahenry Chemical Co., Ltd
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