Published: Aug, 2018
The global sodium hydrosulfite market is anticipated to rise at a significant rate during the forecast period. According to a report by Transparency Market Research, the global market for sodium hydrosulfite is consolidated in nature as only four major manufacturers account for over 50% of the total market share. Companies such as AZ Chemicals, Inc., Jinhe Group, BASF SE, and Guangdong ZhongCheng Chemicals Inc., Ltd held maximum share in the market during 2014. The other prominent players operating in the global sodium hydrosulfite market are BruggemannChemical, Mitsubishi Gas Chemical Company, Inc., and Chematrade Logistic, Inc.
The global sodium hydrosulfide market is expected to rise at a steady CAGR of 3.8% during the forecast period of 2015 to 2023. The global market was worth US$1.02 bn during 2014 and is expected to reach a valuation of US$1.43 bn by the end of 2023. According to application segment, the global sodium hydrosulfide market is expected to lead by textile processing and wood pulp bleaching as they hold the largest share in the market. It is expected to dominate the market even during the forecast period. Among all regions, Asia pacific is expected to lead the sodium hydrosulfide market with an expanding CAGR of 4% by the end of forecast period 2023. Asia pacific held 65% shares of the total market during 2014.
Rise in Demand Due to Various Applications of Sodium Hydrosulfite
Rise in demand for sodium hydrosulfide market is driven by pulp and paper industry as they use it extensively for various bleaching purposes. Sodium hydrosulfide also finds application in various other industries such as food additives, pharmaceuticals, kaolin bleaching, mineral ore flotation, and textile processing. Wood and textile pulp bleaching applications progressively held 80% of the global sodium hydrosulfite market during 2014 due to increasing demand for sodium hydrosulfite in these industries. Sodium hydrosulfite is also used as reducing bleaching agent and reducing agent in various fabrics such as cotton, wool, and nylon textile industry. It is further used to strip colors from fabrics. This could lead to market growth in the coming years. Sodium hydrosulfite is used to brighten wood pulp. It is also used as a bleaching agent for mechanical bleaching pulp in the pulp and paper industry. The global sodium hydrosulfite market is primarily rising due to wood pulp bleaching and textile processing. These application of sodium hydrosulfite will bring dynamic growth in the market. Textile products are increasingly utilizing sodium hydrosulfite for apparels which has resulted in rise of the market over the years. Sodium hydrosulfite also finds application in mineral ore flotation.
Rising Environment Conservation Likely to Hamper Market Growth
The global sodium hydrosulfite market is expected to face some restrains during the forecast period which might hamper the market growth. There has been a gradual decline in paper and paper board production in various parts of the world. The decline in production capacity can negatively hamper the market growth. This decline has occurred due to increasing digitalization in various parts of the world. The rise in awareness regarding environment conservation has chiefly attributed to decline of paper and paper products in the market. This decrease has directly affected the sodium hydrosulfite market. Expensive labor cost is also one of the reasons for market decline as many local manufacturers from developing and underdeveloped economies fail to afford. Due to this many local manufacturers have suffered loses and have shut down their production units. These factors are likely to affect the market during the forecast period.
The information in this review is based on the findings of a report by Transparency Market Research, titled “Sodium Hydrosulfite Market for Wood Pulp Bleaching, Textile, Mineral Flotation and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
The stearates market is bifurcated into the following segments
Stearates Market – Product Segment Analysis
- Calcium stearate
- Sodium stearate
- Zinc stearate
- Magnesium stearate
- Aluminum monostearate
- Others (Including lithium stearate, etc.)
Stearates Market – End-user Analysis
- Plastic & rubber processing
- Building & construction
- Paints & coatings
- Others (Including paper & pulp, etc.)
Stearates Market - Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453