Sodium Metal Market Size to Surpass US$ 229 million by 2027 | MSSA S.A.S., American Elements and more

Sodium Metal Market

According to the latest market research report, the global sodium metal market is expected to grow at a CAGR of 35.1% during the forecast period (2022-2027). The market is expected to reach a value of US$ 229 million by 2027, up from US$ 184 million in 2021. The growing demand for sodium metal from the chemical and pharmaceutical industries is expected to drive the market growth during the forecast period.

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The increasing demand for sodium metal from the chemical and pharmaceutical industries is one of the major drivers of the global sodium metal market. Sodium metal is widely used in the production of a range of chemicals, such as sodium cyanide, sodium hydrosulfite, and sodium benzoate, which are used in a variety of applications. In addition, the growing demand for sodium metal from the nuclear industry, where it is used in the production of nuclear reactors, is also expected to drive market growth.

However, the high reactivity of sodium metal makes it difficult to handle and transport, which could be a major restraint for the market. The high cost of production is also a major challenge for the sodium metal market.

The sluggish demand for sodium metal is attributed to hazardous effects of highly reactive sodium element. Challenges with handling and storage of sodium metal will continue to negatively impact the growth of the market. Further, limited availability of sodium metal on account of fewer players has resulted into introduction and use of alternatives, such as magnesium for use in industrial applications.

Key Players-

• Inner Mongolia Lan Tai Industrial Co., Ltd
• Wanji Holdings Group Limited Ltd
• MSSA S.A.S.
• Shangdong Moris Tech Co., Ltd
• American Elements

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Segmentation:

The global sodium metal market is segmented based on application, end-use industry, and region.

By application, the market is segmented into chemical synthesis, pharmaceuticals, nuclear reactors, and others.

By end-use industry, the market is segmented into chemical, pharmaceutical, nuclear, and others.

By region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Regional Analysis:

The Asia Pacific region is expected to dominate the global sodium metal market during the forecast period. The region is the largest consumer of sodium metal, and the growth of the chemical, pharmaceutical, and nuclear industries in countries like China and India is expected to drive the market growth. North America and Europe are also expected to witness significant growth in the sodium metal market due to the growing demand for sodium and its compounds in these regions.

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Key Market Drivers and Trends

• The demand for denim clothing has witnessed a robust growth in the recent past resulting in higher demand for sodium metal for textiles and apparels
• Sodium metal forms a key constituent in the manufacturing of indigo dyes
• Steady growth in global biodiesel production is one of the primary driving factors as sodium methylate is widely used as a catalyst for large-scale biodiesel production
• Application of sodium metal as a reductant in metals manufacturing and refining
• Global sodium market is characterized by competitive oligopoly, wherein few manufacturers hold major shares in the overall market supply

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