IndustryARC, in its latest report, predicts that Sodium Sulfide Market size is forecasted to reach US$790.7 million by 2027, after growing at a CAGR of 6.3% during the forecast period 2022-2027. Sodium Sulfide is derived from minerals such as mirabilite, thenardite, and more. The Sodium Sulfide is reacted with dihalides to form cyclic disulfides like dithiolane, which are frequently employed as a hydrate in industries such as textile, leather, and other such industries for superior chemical bonding. The Sodium Sulfide Market is majorly driven by the growth of the pulp and paper industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
This IndustryARC report on the Sodium Sulfide Market highlights the following areas –
1. Asia-Pacific region dominated the global sodium sulfide market, owing to the growing pulp and paper industry in the region. For instance, according to the General Statistics Office of Vietnam, in the year 2020, the production of paper for the newspaper industry in Vietnam was 979.3 billion pages, this was about 4.3% higher when compared with the year 2019.
2. The growing concerns about water scarcity have boosted demand for the water purification process, which is likely to fuel the market’s expansion during the projected forecast period.
3. Moreover, the surging application of sodium sulfide in medicine to prevent alpha oxidation formation, which can impact the function and stability of antibody-based therapeutics, is creating an opportunity for market growth.
4. Nevertheless, the hazardous nature of sodium sulfide is restricting the sodium sulfide market growth.
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Segmental Analysis:
1. The low ferric sodium sulfide segment held a significant share in the global sodium sulfide market in 2021 and is forecasted to grow at a CAGR of 6.8% during the forecast period 2022-2027.
2. The paper and pulp segment held a significant share in the global sodium sulfide market in 2021 and is forecasted to grow at a CAGR of 7.5% during the forecast period 2022-2027.
3. Asia-Pacific region held a significant share in the global sodium sulfide market in 2021 up to 38%. The Asia-Pacific industrial growth is driven by the growth of various industries such as paper and pulp, wastewater treatment, and other such industries. The Asia-Pacific paper and pulp industry are growing due to the development of new facilities, the surge in production, and governmental initiatives associated with the paper and pulp industry in the region.
Competitive Landscape:
The top 5 players in the Sodium Sulfide industry are –
1. Sankyo Kasei
2. Novochrom
3. Rahul Barium Chemicals
4. Nafine Chemical Industry
5. Shenhong Chemical
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