The global sodium sulfide market size is anticipated to reach remarkable heights by 2026 on account of the increasing need for clean water. Sodium sulfide is used for reducing the application of Sulphur dyes on cotton and are utilized by the paper and pulp, textile, water treatment, oil recovery, sulfur dye, and other industries. A recent report by Fortune Business Insights™ offers details into the market with its prime growth trajectories. The title of the report is, “Sodium Sulfide Market Size, Share & Industry Analysis By Product Type (Anhydrous Sodium Sulfide, Crystal Sodium Sulfide, Low Ferric Sodium Sulfide), By Application (Paper & Pulp, Water Treatment, Textile, Tanneries, Others) Others and Regional Forecast, 2023-2030.”
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What are the Report Highlights?
The report offers a comprehensive overview of the market and factors driving, restricting, challenging, and creating opportunities for the market in the forecast period. It also provides details of the market segmentation with base and predicted figures and CAGR. The report also throws light on key industry developments, current sodium sulfide market trends, and other interesting insights into the market. Moreover, the report throws light on the competitive landscape of the market, the list of market manufacturers, and the significant strategies adopted by them to gain the lion’s share in the market.
Market Drivers
Increasing Demand from Leather and Tanning Industry will Bode Well for Market
Sodium sulfide is used as an oxygen scavenger agent in water treatment and this acts as a major for sodium sulfide market growth. Besides this, it is also used in photography for toning photographs and this is also fueling its demand in the market. Other application includes the production of rubber chemicals, used for desulfurization in the textile industry, production dyes, and oil recovery. The increasing demand from the sectors mentioned above will help increase the market size in the forecast period.
However, inhaling sodium sulfide may cause vomiting and lead to breathing disorders. This may hamper the market. Additionally, other health hazards caused due to exposure to sodium sulfide may cause major challenges to the market in the coming years. These include irritation in the throat, skin, and eyes. Nevertheless, high demands from the tanning and leather industry for dehairing purposes will create lucrative growth opportunities for the market in the long run.
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Regional Segmentation:
Asia Pacific will Dominate Market with Rising Demand from Paper Industry
As far as the geographical segmentation is concerned, the market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. All these regions are further categorized into nations. Among these, Asia Pacific is holding the dominant sodium sulfide market share on account of the increasing demand from paper manufacturers in China and India. On the other side, North America will witness significant growth in the coming years on account of the stringent regulations imposed by governments on treating wastewater from manufacturing industries in the region.
Moreover, the market in Europe will rise remarkably owing to the increasing demand from the leather industry. Furthermore, the Middle East and Africa market will witness steady growth attributable to the increasing need for sustainable and clean water.
Competitive Landscape:
Market is Fragmented in Nature with the Presence of Many Companies
The global sodium sulfide market is witnessing the presence of many companies, thus ensuring a fragmented nature of the market. Companies operating in this market are focusing on the development of sodium sulfide that has negligible health effects. Therefore, players are investing high sums into the development of improved sodium sulfide. Besides this, players are also engaging in contracts and agreements, joint ventures, and other collaborative efforts to attract high sodium sulfide market revenue in the forthcoming years.
List of Important Sodium Sulfide Market Manufacturers include:
- Nilkanth Organics
- Tessenderlo Group
- American Elements
- Solvay S.A.
- Shaanxi Fuhua Trading Co., Ltd.
- Tokyo Chemical Industry
- PVS Chemicals
- Emco Dyestuff Pvt. Ltd.
- Longfu Group
- Innova Priority Solution
- Other Vendors
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