Sodium Hydrogen Sulphite Market: East Asia and South Asia to Dominate Global Sales Forecast 2020 to 2030
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As per Fact.MR analysis, the market is set to recover by mid-FY2021 onwards, thereafter going back to its normal growth pace.
Key Takeaways from Sodium Sulphite Market Study
The global sodium sulphite market is anticipated to create a value opportunity of around US$ 800 Mn during the forecast period, adding 1.3X value as compared to 2019 by 2030.
The MEA region is set to gain 50 BPS over the forecast period of 2020-2030.
On the basis of grade, industrial grade is set to expand at a CAGR 2.8% over the forecast period.
Declining demand for sodium sulphite in food preservative applications is set to be observed during the short-term forecast period.
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China holds a lion’s share of global sodium sulphite production; however the scenario might change over the short-team forecast period.
Preservation applications will drive the growth of the sodium sulphite market over the mid-term forecast period.
“The COVID-19 pandemic is set to further impede the already sluggish demand for sodium sulphite,”
says a Fact.MR analyst.
Diversified Product Portfolio to Strengthen Stance of Key Players
The sodium sulphite market space is fragmented in nature, but despite this, market players are delivering products with broadened portfolios. Key players in the market are BASF, Ineos Calabrian, Solvay Minerals Inc., Rongda Chemical Corporation, Indspec Chemical, Southern Ionics, Olympic Chemicals, Aditya Birla Chemicals, Hemani Group of industries, Guangdi Chemicals, Jinchuan Group Limited, Kayon Chemicals, Weifang Industry, and Chemicals products Ltd.
Though the market is highly fragmented in nature, key players are following the likely demand curve, shifting their stance from manufacturing food grade to technical grade sodium sulphite. For instance, BASF has reformed sodium sulphite food grade as a conservative agent used in the production of dried fruits.
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Solvay shifted its possibility curve toward manufacturing technical grade sodium sulphite to ensure its stance in the global market.
The report answers important questions which include:
• Why is player leading the Sodium Hydrogen Sulphite Market in region?
• Which factors pose a negative impact on the Sodium Hydrogen Sulphite Market growth?
• What was the value registered by the Sodium Hydrogen Sulphite Market in 2018?
• What challenges do the Sodium Hydrogen Sulphite Market players face during R&D stages?
• Which countries contribute a significant share to the total market revenue in region?
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/1365
Key findings of the Market report:
• Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the Sodium Hydrogen Sulphite market.
• In-depth analysis of important market segments, market potential, impacting trends, and challenges.
• Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
• Extensive investigation of the effects of the growth of relevant industries.
• Accurate data regarding the future prospects of the Market during the forecast period.
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