Sodium Hydrosulfite Industry Forecast, Future Growth, Size, Industry Share, Analysis, Overview, Price, Demand And Forecast To 2024

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Sodium Hydrosulfite Industry Forecast, Future Growth, Size, Industry Share, Analysis, Overview, Price, Demand and Forecast to 2024

Market Overview

The Global Sodium Hydrosulfite Market is projected to be valued at over USD 1.5 billion by the end of 2024 at a CAGR of over 4% during the assessment period. The prominent factor driving the market growth is the widening scope of application of the product in the pulp & paper and textile industries. The use of sodium hydrosulfite in pulp bleaching enhances the brightness of pulp with efficient energy input and economical use of hydrosulfite. In addition, sodium hydrosulfite finds a wide range of applications in the textile industry for bleaching of both natural and synthetic fibers. The significant growth of the textile industry in Asia-Pacific is likely to boost the demand for sodium hydrosulfite in the coming years.

Market Segmentation

The Global Sodium Hydrosulfite Industry Forecast has been segmented on the basis of form, production process, and end-use industry.

By form, the global sodium hydrosulfite market has been classified into powder and liquid.

Based on production process, the global sodium hydrosulfite market has been categorized into zinc dust process, sodium formate process, and others. 

On the basis of end-use industry, the global sodium hydrosulfite market has been divided into pulp & paper, textile, food & beverage, personal care & cosmetics, leather, water treatment, and others.

Key Players

  • HANSOL CHEMICAL
  • Chemtrade Logistics Inc
  • HELM AG
  • BASF SE
  • Brügge¬mann GmbH & Co.KG
  • Maoming Guangdi Chemical Co.Ltd
  • Shandong Jinhe Industrial Group Co.Ltd
  • Transpek-Silox Pvt Ltd
  • AZ Chemicals Inc
  • Royce Global

Regional Analysis

The Asia-Pacific sodium hydrosulfite market is projected to be the leading regional market during the forecast period, owing to the healthy growth of the pulp and paper industry in the South-East Asian economies such as China, South Korea, and Japan. In addition, the region has a competitive advantage over other regions due to availability of fast-growing eucalyptus as pulp raw material and major investments for the setup of new pulp mills in the region. For instance, in January 2019, Asia Pulp and Paper (APP), one of the largest manufacturers of pulp and paper in Asia-Pacific, announced an investment of approximately USD 3.5 billion, in its pulp and paper manufacturing unit at Ravuru, Andhra Pradesh, India. This project will be the largest unit of APP at a single location with an annual production capacity of 5 million metric tons. This is likely to boost the demand for sodium hydrosulfite for bleaching purpose and thus propel the growth of the regional market during the review period. The textile industry in the region is expected to register healthy growth in the years to follow, with major contributions from India and China. In 2017, China was the largest exporter of textiles globally, and India ranked third in this list, and the trend is likely to continue in the following years. The Indian textile sector is projected to witness high growth during the forecast period. This is attributed to the strong multi-fiber base (availability of cotton, silk, jute, and wool), large-scale investments, rising disposable income of individuals, and initiatives by the government. This is expected to fuel demand for the product in the textile industry and thus favor the growth of the regional market in the years to follow.

North America held the second-largest market share of the global sodium hydrosulfite market in 2018. The high demand for the product in the water treatment industry is to remove chromium from the electroplating effluents. The increasing awareness regarding environment safety and stringent regulations pertaining to wastewater and effluent from various industries are likely to fuel the demand for the product during the forecast period. 

The market in the Middle East & Africa is projected to witness healthy growth owing to the expanding textile industry in the region. The textile industry in the African economies, including Turkey, Egypt, and South Africa exhibits high growth potential. Turkey is one of the leading textiles, and apparel manufacturing countries in the world and export of clothing contributes approximately 10%, by value, of the total exports to the country. In the coming years, Turkey is expected to emerge as one of the key textile manufacturers and exporters.

Access Complete Report @ https://www.marketresearchfuture.com/reports/sodium-hydrosulfite-market-8041

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