The global Sodium Sulfide Market is estimated to generate a turnover of US$ 10.93 billion in 2024 and is approximated to reach US$ 17.47 billion by 2034. Demand for sodium sulfide has been forecasted to increase at 4.8% CAGR from 2024 to 2034.
According to a recently released industry study report from the competitive intelligence and market research firm Fact.MR. Sodium sulphide is a chemical that is widely employed in many different industries, such as mining, textile processing, chemical manufacture, and others, due to its versatility.
Sodium sulphide is a necessary component in the production of sulphur compounds, pigments, and rubber chemicals. It is used by textile companies to desulfurize, bleach, and dye textiles. The mining operations of metal extraction and ore flotation depend on sodium sulphide.
Approximately one-third of the global market is held by the East Asia area. The growing demand for the product across a number of industries, most notably pulp and paper and leather in China and Japan, is driving the market's continuing expansion in East Asia. The market in North America is anticipated to expand due to the increased usage of sodium sulphide in water treatment, leather, and textile applications.
Key Takeaways from Market Study:
- The worldwide market for sodium sulfide is projected to reach US$ 17.47 billion by 2034-end.
- East Asia is projected to account for 36.5% of the global market share in 2024. This market is analyzed to generate revenue of US$ 3.99 billion in 2024.
- Worldwide demand for sodium polyacrylate is forecasted to reach a value of US$ 7.45 billion by the end of 2034.
- The market in Japan is forecasted to expand at a CAGR of 6.1% through 2034.
- The market in the United States is forecasted to generate revenue of US$ 2.36 billion in 2024.
- The market in North America is analyzed to reach US$ 5.08 billion by the end of 2034.
“Prominent sodium sulfide companies are focusing on improving the quality and purity of their goods to set them apart from competition. They are also offering customized formulations to fulfill particular industrial needs,” says a Fact.MR analyst
Leading Players Driving Innovation in Sodium Sulfide Market:
Xintai Wanhe Chemical Co. Ltd.; Longfu Group; Sichuan Shenhong Chemical Industry Co., Ltd.; Inner Mongolia Lichuan Chemical Co., Ltd.; Solvay S.A.; Athiappa Chemicals; Sankyo Kasei; PJ Chemicals; Hebei Xinji Chemical Group Co., Ltd.; Changsha Vahenry Chemicals Co.; Tianjin Xibeier International Co., Ltd.; China Nafina Group International Co., Ltd.
High Preference for Regular-Grade Sodium Sulfide in Several Industries:
Because of its affordability and range of industrial uses, regular-grade sodium sulphide is more in demand than high purity. For a number of applications in sectors like water treatment, textile processing, and the production of paper and pulp, regular-grade sodium sulphide is enough. Because it doesn't require expensive purifying procedures, it can be produced at a lower cost while still meeting the requirements for these usage.
Despite its better quality, high-purity sodium sulphide is only required in some applications, such as the production of delicate compounds or medications. The demand for regular-grade sodium sulphide is gradually increasing because most industrial clients choose it because of its lower cost and wider range of applications.
Sodium Sulfide Industry News:
- In June 2023, A definite agreement was made by Solvay to acquire ICS Industries, a prominent manufacturer of specialty chemicals, including sodium sulfide.
- In September 2022, following approval from the USFDA, the pharmaceutical company Lupin Ltd. introduced the generic versions of sodium sulfate, potassium sulfate, and magnesium sulfate oral solutions in the United States market. These solutions are used to cleanse the colon in preparation for a colonoscopy.
More Valuable Insights on Offer
With this latest offering, Fact.MR offers an objective analysis of the sodium sulphide market, including projected statistics for 2024–2034 and historical demand data from 2019–2023.
The study provides crucial market information for seven major global regions (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA) based on product (sodium polyacrylate, polyacrylamide copolymer), grade (regular, high purity), and application (leather processing, pulp & paper, chemical processing, water treatment, ore processing).
Old Source: https://www.globenewswire.com/news-release/2024/09/11/2944325/0/en/Sodium-Sulfide-Market-is-Forecasted-to-Reach-US-17-47-Billion-by-2034-Growing-at-a-CAGR-of-4-8-Fact-MR-Report.html
