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Sodium Sulfide Market will register significant gains over the projected time period 2018- 2024

Author : Ronak Bora | Published Date : 2019-05-09 

The Sodium Sulfide Market is set to grow from its current market value of more than $415 million to over $665 million by 2024; as reported in the latest study by Global Market Insights, Inc.

Increasing disposable income in India, China, Mexico, UAE and South Korea has led to a rise in preference for designer leather goods such as footwear, accessories and bags. Sodium sulfide is vital for dehairing process in tanneries where an alkaline mixture ensures the chemical dissolution of hair. Several European countries such as Italy, Spain, France and Germany account for about 25% of global leather production pertaining to the predominance of small-sized tanneries with high adaptability, access to premium raw materials and technological leadership which may further stimulate sodium sulfide market growth.

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Global crystal sodium sulfide market size may exhibit growth of about 6.5% till 2024. The product finds extensive use as an assistant in sulfide dyeing, chemical fiber devulcanization, and as an ingredient for manufacturing organic chemicals. The product is also used in rubber, engineering plastics, pharmaceuticals, chemical cleansers, and food additive manufacturing which may accelerate Na2S market growth.

In 2017, U.S. sodium sulfide market size from water treatment applications surpassed USD 3.5 million. Enhanced wastewater treatment technologies along with rising population have influenced the country to significantly increase its water reuse targets. The product is moderately soluble in water compared to other insoluble compounds such as oxides or fluorides and precipitates out heavy metal contaminants, which increases the product’s suitability as a reagent in wastewater treatment.

Germany sodium sulfide market demand from chemical processing applications may exhibit growth above 5% by 2024. The product has various chemical applications such as conducting sulfomethylation & sulfonization in the rubber industry, and manufacture of sulfur dyes for use in the textile industry. Moreover, it is widely used to manufacture pharmaceutical chemicals, sodium hydrosulfide and sodium thiosulfate for chemical and medical applications which may accelerate market growth.

Na2S market size with respect to textile industry applications should surpass USD 50 million till 2024. The product serves as a bleaching agent for de-sulfurizing and as a dechlorinating agent. Moreover, the product offers the ability to reduce negative charges on fibers and ensures even dye penetration which could further increase product demand.

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India sodium sulfide market size may witness gains exceeding 4% in the forecast timeframe. A booming construction & manufacturing industry has stimulated the demand for copper in the country. Sodium sulfide functions as a depressant of ferrous ores such as steel & iron and non-ferrous ores such as copper sulfide, zinc & magnesium ores which should further promote market growth.

Prominent sodium sulfide manufacturers include Solvay, Kunjan Chemicals, Nafine Group, Shenhong Chemical Industry Co., Ltd., Athiappa Chemicals, Sankyo Kasei and Tessenderlo Group. Major firms are directing their efforts on expanding their production capacity to ensure rapid product supply along with achieving technological development to improve product quality.  

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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