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Sodium Sulfide Market 2024 | Competitive Analysis & COVID-19 Impact Analysis | Solvay, Longfu Group, Nafine Group International Co. Ltd.
Sustained demand stemming from leather industry where the product is used in dehairing animal hides is likely to fuel sodium sulfide market share. Palpable demand for jackets, leather briefcases, suitcases and footwear are expected to further sodium sulfide market growth. Prominently, notable uptick in purchasing power and drastic rise in number of working women will boost the industry size. Sodium sulfide is highly sought-after across industries, including pulp & paper, leather industry, chemical processing and ore processing, among many others.
Soaring popularity of technical grade solution sulfide as a reducing agent in heavy metal remover in wastewater treatment, pharmaceutical industry, sulfur removal in viscose rayon and heavy water production in power plants is said to have positive influence on sodium sulfide market revenue. As such, technical grade sodium sulfide market size is expected to exceed US$ 460 million by 2024.
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According to the latest research report by Global Market Insights, Inc., sodium sulfide market size is projected to surpass US$ 650 million by 2024.
North America sodium sulfide market size will continue to gain traction against the backdrop of strong demand for copper ore from mining and construction industries. In addition, upsurge in the development of transportation industry has translated into the emergence of speed trains which warrants more copper vis-à-vis traditional electrical trains.
APAC sodium sulfide market will also act as a fillip in the industry growth as transportation industry has experienced notable development in countries such as India and China. Rising popularity of pulp & paper and low ferric sodium sulfide in the region will boost stakeholders to invest heavily in sodium sulfide.
Europe appears to embrace sustainable construction in the wake of mounting climate change issue. Use of copper, for instance, has soared in the region as it is prevalently being used in automobile sector. Moreover, mining industries are vying to use copper extensively as ore processing activities gain uptick to boost production. Accordingly, Europe sodium sulfide market revenue will gain considerable return during the forecast period 2018-2024.
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Sodium sulfide market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2013 to 2024, for the following segments:
By Product
• Low ferric sodium sulfide
• Anhydrous sodium sulfide
• Crystal sodium sulfide
By Grade
• Technical
• Purified
By Application
• Pulp & paper
• Water treatment
• Tanneries (leather industry)
• Chemical processing
• Textile industry
• Ore processing
• Others
Some prominent trends impelling sodium sulfide market growth are as follows:
Low ferric sodium sulfide segment to spur global sodium sulfide market size
Extensive application in high grade paper, PPS plastic, printing and dyeing, and medicine industries is poised to drive low ferric sodium sulfide segment growth over the forecasted period. As per estimates, low ferric sodium sulfide segment accounted for a revenue of over USD 180 million in 2017.
Additionally, numerous advantages of sodium sulfide preparations comprising high reactivity, high reducibility, as well as solubility in both water and alcohol are likely to influence sodium sulfide industry outlook through the estimated period.Surging copper ore demand to lead North America sodium sulfide industry growth
North America sodium sulfide market is poised to witness remarkable growth of around 3 per cent through 2024, driven by the surging demand for copper ore from mining and construction industries in Canada and the U.S.
This growth is primarily attributed to the escalating advancements in the transportation industry pertaining to the development of high-speed trains that require more copper in comparison to traditional electric trains.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Global Market Insights, Inc., 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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