Sodium Sulfate Market : Poised for Steady Growth in the Future 2017 - 2025
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A business intelligence study by Transparency Market Research (TMR) observes the global market for sodium sulfate features a fragmented vendor landscape due to a large number of global and local players.
Alkim Alkali Kimya A.S., Cordenka GmbH & Co. KG, Elementis plc, Minera De Santa Marta, Si Chuan Hongya QingYiJiang Sodium Sulphate Co. Ltd., Saskatchewan Mining and Minerals Inc., Sodium Sanayii Anonim Sirketi, Birla Cellulose, Cooper Natural Resources, Lenzing Group, S.A. Sulquisa, Searles Valley Minerals, Grupo Industrial Crimidesa S.L., and XinLi Chemical are to name key players in the global sodium sulfate market.
The TMR report estimates that the sodium sulfate market will display a lackluster 3.8% CAGR for the forecast period between 2017 and 2025, for the market to be valued at US42.62 mn by 2025 from US$1.89 mn in 2016. In terms of type of source, the segments into which the sodium sulfate market is bifurcated are synthetic and natural. Of the two, natural segment of the market holds the leading share at present. The natural segment is anticipated to continue to remain dominant in the upcoming years. The various segments into which the sodium sulfate market is divided based on application are soaps & detergents, textiles, carpet cleaners, kraft pulping, glass, and others.
On the basis of geography, the key segments into which the global sodium sulfate market is divided are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among them, Asia Pacific currently holds the leading market share. The region also displays the leading growth rate amongst all. In the years ahead too, the region is likely to hold on to its dominant position on the back of expansion of chemical industries and rising demand for sodium sulfate from a host of end-use industries in the emerging economies of China and India.
Flourishing Automobile and Construction Industry a Boon for Market
Majorly fuelling the global market for sodium sulfate is the growth of soap and detergent industry. This is mainly because sodium sulfate is used as a diluting agent and as fillers in detergents and soaps. Also, fuelling demand for sodium sulfate in the flourishing construction and automotive industry. Sodium sulfate is used as a fluxing agent in glass making to serve the demand for high quality glass for automobiles and buildings. This is because sodium sulfate helps to eliminate small air bubbles and defects during casting and blowing processes, says the lead analyst of the study.
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Substitutes Challenge Growth
Providing headwinds to the sodium sulfate market is emergence of substitute compounds such as zeolites, emulsified sulphur, sodium silicates, sodium carbonate, and caustic soda. These substitutes serve the demand from several end-use industries that conventionally displayed demand for sodium sulfate. Despite the declining use of sodium sulfate in several end-use industries, newer application areas are coming to the fore. Among the newer applications of sodium sulfate, widespread use during the bleaching of kraft pulp and as a dyeing agent in textile making are prominent ones.
Apart from this, distinct physical and chemical properties of sodium sulfate make them preferable over substitutes for several applications. For example, sodium sulfate displays the unique property to store heat and is thus seen to witness rapid uptake in the battery industry.
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