Global Sodium Sulfate Market Will hit at a CAGR of 3.8% from 2017 to 2025
Some of the key names in the global sodium sulfate market are Alkim Alkali Kimya A.S., Birla Cellulose, Cordenka GmbH & Co. KG, Cooper Natural Resources, Elementis plc, Lenzing Group, Minera De Santa Marta, S.A., S.A. Sulquisa, Si Chuan Hongya QingYiJiang Sodium Sulphate Co., Ltd., Searles Valley Minerals, Saskatchewan Mining and Minerals Inc., Grupo Industrial Crimidesa S.L., Soda? Sodium Sanayii Anonim Sirketi, and XinLi Chemical.
The report by TMR finds that the sodium sulfate market worldwide will rise at a tepid pace by clocking a CAGR of 3.8% during the period between 2017 and 2025. At this rate, it projects the market to reach a value of US$2.62 mn by 2025 from US$1.89 mn in 2016.
Depending upon the type of source, the global sodium sulfate market can be split into synthetic and natural. Of them, sodium sulfate derived from natural sources accounts for a dominant share in the market at present. Rising at a CAGR of 4% from 2017 to 2025, the segment is expected to retain its dominant share in the near future as well.
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Geography-wise, the key segments of the global sodium sulfate market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific holds maximum share in the market. The region also surpasses other in terms of growth rate. The TMR report predicts the region to hold on to its dominant share in the upcoming years by clocking a CAGR of 4.0% from 2017 to 2025.
Paper Industry Compensates for Waning Demand from Soap and Detergent Industry
At the forefront of driving growth in the global sodium sulfate market is the soap and detergent industry. This is because sodium sulfate finds application as a diluting agent and fillers in soaps and detergents. However emergence and popularity of concentrated liquid detergents instead of bulkier powder formulations is serving to crimp demand for sodium sulfate. However, other application areas are propping up its demand. For example, its finds widespread usage as a chemical compound in the bleaching process of kraft pulp and as a dyeing agent in the textile industry.
Also, fuelling demand in the market is the booming construction and automotive industry. “Their need for glass has proved beneficial to sodium sulfate which is used as a fluxing agent in glass refining. It helps to remove small air bubbles and imperfections during blowing and casting processes,” explains the lead analyst of the report.
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Substitutes Hamper Demand
Posing a major roadblock to the sodium sulfate market is the emergence of substitute compounds such as zeolites, sodium silicates, emulsified sulphur and caustic soda, and sodium carbonate (soda ash) in various end-use industries. Despite its declining usage in various manufacture process, newer applications areas in the upcoming years will likely boost its demand. For example, sodium sulfate has unique ability to store heat and is thus seeing rapid uptake in the battery industry.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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