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Will Europe drive sodium sulfide market share by 2024?

Author : Ravi Chawat | Published Date : 2020-09-15 

Sodium sulfide market size is set to witness robust growth on account of increased demand from pulp and paper industry, textile industry, water treatment, and a range of chemical manufacturing processes, including sulfur dyes, rubber chemicals, and oil and recovery. In addition to the hydrate form, sodium sulfide tends to release hydrogen sulfide (H2S) provided it is in contact with moist air.

Palpable demand from leather industry where sodium sulfide is used in dehairing animal hides is likely to fuel sodium sulfide market share. Dramatic rise in consumer purchasing power and upsurge in the number of working women have propelled demand for leather briefcases, footwear and jackets that will potentially trigger growth in sodium sulfide market share.

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Estimates claimed that low ferric sodium sulfide market size was worth US$ 180 mn in 2017 in the wake of its popularity in high-grade paper, PPS plastic, ore dressing, medicine industry, and printing and dyeing. Nevertheless, sodium sulfide offers several upsides such as solubility in both water and alcohol, high reactivity and high reducibility that are slated to unfold growth in sodium sulfide market size. Sodium sulfide market size is slated to top UD$ 665 mn by 2024, according to Global Market Insights, Inc.’s new research report.

Based on the grade bifurcation, technical grade sodium sulfide segment is expected to record a revenue of more than USD 460 million by 2024 owing to increased utilization in industrial, manufacturing and laboratory applications. It has wide usage in heavy metal removal during wastewater treatment, as a reducing agent in pharma industry, for removal of sulfur in viscose rayon, for production of heavy water in power plants and in manufacturing of black dye. Such vast range of applications will proliferate the product demand.

Elaborating further on water treatment activities, the U.S. Environment Protection Agency recently announced generating a fund of USD 6 billion for the projects associated with water infrastructure such as wastewater treatment, drinking water treatment, enhancement of water facilities, etc. This initiative will help EPA support several projects in large and small communities. Such initiatives will ultimately lead to the demand for sodium sulfide which is a key compound for the removal of metal impurities from wastewater.

Sodium sulfide market is likely to witness a heightened demand for applications pertaining to pulp & paper. In this regard, reports suggest that sodium sulfide market from pulp and paper segment would register a considerable CAGR of 6.5% through 2024.. The growth can aptly be credited to growing demand for packaging and tissue papers in Greece, Bulgaria, China and Brazil. Moreover, the product has  crucial applications in the processing of bamboo, wood and bagasse fibers into pulp, and further into the bleaching of this pulp. It provides high strength to paper objects.

On the regional terrain, North America sodium sulfide market, led by U.S. and Canada is estimated to record 3% CAGR on the grounds of growing demand from mining and construction industries for copper ore. Ongoing  advancements in transportation industry has further stimulated the development of high-speed trains which compels the need for copper.

Browse More News:

https://www.globenewswire.com/news-release/2017/07/03/1037421/0/en/Acetic-Acid-Market-to-surpass-16bn-by-2024-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2017/12/07/1247312/0/en/Bitumen-Emulsifiers-Market-to-cross-150mn-by-2024-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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