Sodium Metabisulphite Market Growth and Forecast 2016-2026
It is also a popularly used cleaning agent, preservative, and sanitising agent. In addition to serving numerous applications in chemical and pharmaceuticals, Sodium metabisulphite finds several applications in food and beverages industry, especially in processing of foods and beverages.
Driven by a wide range of industrial applications, the Sodium metabisulphite market is witnessing strong growth globally. According to FMI’s research, the market is anticipated to thrive at a robust CAGR during the forecast period 2016-2026.
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Key Drivers: Sodium Metabisulphite Market
As increasing number of consumers are turning to packaged food products, the demand for food additives and preservatives is also skyrocketing. Similarly, new drug formulations are gaining traction with the advent of research and technology in pharmaceutical industry, leading to higher demand for Sodium metabisulphite. Soaring consumption of Sodium metabisulphite by food industry and pharmaceuticals plays a key role in driving the global market of Sodium metabisulphite.
Wool and textile industries, which use huge amounts Sodium metabisulphite as a bleaching agent, are growing in number globally. This is another important factor fuelling the market growth. Furthermore, wine production units also consume a lot of Sodium metabisulphite. With the rising popularity of wine and growing innovation in development of new wine types, the market is expected to grow impressively in the near future.
Restraints to Market Growth
Consumers are observed to be more health conscious within the past few years, and a sizeable population worldwide is demanding natural, preservative-free foods. This scenario might lower the demand and consumption of Sodium metabisulphite by food and beverages industry, eventually affecting the market in a long term.
Sodium metabisulphite is easily replaceable with Sodium bisulphite, which possesses most of the properties of the former. This may affect the market growth during the forecast period.
Application-based Trends in the Market (other than food preservation and bleaching)
Dechlorination of municipal wastewater
Applications in water treatment associated with leather tanning process
Applications in oxygen scavenging process
Applications in water treatment plants associated with textile, power, and pulp and paper industries
Disinfectant and antioxidant applications
Applications in gold mining and cherry brining
Preservative applications in photo developing solutions
Formulation of cleaning agents, detergents, and soaps
Global Sodium Metabisulphite Market: Segmentation
FMI’s research on the global Sodium bisulphite market provides a 10-year forecast, segmenting the market on the basis of grade, functionality, and application.
Based on the grade, the market is segmented into
Non Food / Technical Grade
On the basis of functionality, the market is segmented into
On the basis of application, the market is segmented into
Food and beverages industry
Paper and pulp industry
Photographic and film industry
Other (Rubber, Paint and others)
Global Sodium Metabisulphite Market: Regional Outlook
Owing to the maximum consumption of packaged food products in the world, North America is currently the largest market for Sodium metabisulphite. Over the forecast period, N. America is anticipated to retain the top market position.
Asia Pacific however will create the fastest growing market for Sodium metabisulphite, driven by rapid expansion of packaged food, paper and pulp, textile, and pharmaceutical industries. China and India are projected to record the highest CAGR in the Asia Pacific market, through to 2026.
Research also indicates that Brazilian and African countries will also register significant growth, while Europe is estimated to witness steady growth over 2016-2026.
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Key Players: Global Sodium Metabisulphite Market
Some of the key participants in the global Sodium metabisulphite market include BASF SE, The Dow Chemical Company, Solvay, Aditya Birla Chemicals, Shandong Kailong Chemical Technology Development Co., Ltd., Ultramarines India (P) Ltd., and Qingdao Tianya Chemical Co., Ltd.
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