Global Sodium Bicarbonate Market: Snapshot
Sodium bicarbonate is extensively used in several industrial and domestic applications. The compound is highly basic in nature and can neutralize any acid. Hence it is used by pharmaceutical companies to make antacids for patients. Due to these applications and ease of availability of the compound, the global sodium bicarbonate market is set to witness a substantial growth during the tenure of the 2019 to 2027. The growth of the market is also attributed to the nature of the compound that makes is less dangerous for the user. However, the rate of reaction of this compound is quite high and is therefore advice to used with precautious. Based on these benefits, the global sodium bicarbonate is growing substantially from 2019 to 2027.
What Factors May Drive the Growth of the Market?
- The growth of the global sodium bicarbonate market may be the result of the fact that the production cost of the compound is quite low. Manufacturers can prepare the compound through a simple reaction under monitored temperature and pressure. Locking at the growing demand for sodium bicarbonate, the global sodium bicarbonate market may witness robust growth from 2019 to 2027.
- Secondly, the application of sodium bicarbonate in several industrial applications like agriculture, manufacturing, cleansing product, and pharmaceutical industry, also plays a crucial role in the progressive growth of global sodium bicarbonate market during the projected tenure.
- In geographical terms, Asia Pacific dominates the global sodium bicarbonate market. This dominance of the market is the result of growing popularity of products like cement, glass, and plastics which have sodium bicarbonate as their key ingredient. With the growth in the demand for these products, the demand for sodium bicarbonate shall also increase, this might help the global sodium bicarbonate market to grow in 2019 to 2027.
Sodium Bicarbonate Market: Overview
The global sodium bicarbonate market is expected to rise at prominent pace in the coming few years, thanks to the rapidly growing food industry and booming textile business.
Sodium bicarbonate is popularly known as baking soda. It is a primary product used in for making bakery and decoloring of textile.
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Sodium Bicarbonate Market: Notable Developments
Some of the recent development in the sodium bicarbonate market are-
A research healthy rat has shown that sodium bicarbonate solution prompts specialized cells in line with the digestive tract organs (mesothelial cells) to signal the spleen. This will help produce more anti-inflammatory immune cells. Thus sodium bicarbonate is expected to possess several anti-inflammatory effect, thus expected to offer several lucrative opportunities to the growth of the sodium bicarbonate market in the coming few years.
Some of the prominent players operating in the global sodium bicarbonate market are Solvay SA, Church & Dwight Company, Tata Chemicals, Natural Soda, and Ciech Group.
Sodium Bicarbonate Market: Key Trends
The sodium bicarbonate market is projected to experience a major boost in the coming few years. This is mainly due the ability of sodium bicarbonate to reduce acidic conditions and stabilize PH value in the food.
In addition to this, low environmental impact and lesser production costs of sodium bicarbonate is backing producers in baking soda market. Further, increasing application of sodium bicarbonate in animal feeds and easy availability of sodium bicarbonate this is expected to drive the sodium bicarbonate market over the forecast period.
Furthermore, rising application of sodium bicarbonate in the animal feed industry is likely to spur product demand in the coming years. Along with this, use of sodium bicarbonate in flue gas desulfurization, cleaning products, and pharmaceuticals products are some other factors expected to fuel the growth of the sodium bicarbonate market.
Moreover, factors like mild abrasive, grease cutting, and odor neutralizing properties of sodium bicarbonate in cleaning properties and alkalinity. This is likely to offer lucrative opportunities in the sodium bicarbonate market.
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There is increasing demand for sodium bicarbonate from various end-use industries, such as chemical, agriculture, pharmaceutical, and food and beverages. This is creating huge demand for the product, this is leading to demand-supply gap. This is a strong factor expected to act against the growth of the global sodium bicarbonate market.
Nevertheless, manufacturers in the sodium bicarbonate market are taking an opportunity and working actively to expand operations and distribution facilities. This is likely to overcome the major restraining factor in the sodium bi carbonate market.
Sodium Bicarbonate Market: Regional Outlook
On the basis of region, North America is expected to hold a majority of share in the global sodium bicarbonate market. This is majorly because of the North America Free Trade Agreement pact in the region which is acting as a boosting factor for product trading across North American countries. Due to this, there has been a rise in export of sodium bicarbonate from U.S., while imports have seen a slight decline owing to increase in production of soda ash in recent years.
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