Global Sodium Hydrosulfite Market Size:
The global sodium hydrosulfite market expected to grow at significant CAGR over the forecast years to reach US$ 1,653.2 Mn by 2026 due to surge in demand for sodium hydrosulfite from end user industries such as textiles, paper and pulp, food and beverages, and others across the world. Moreover, technological advancements in the manufacturing of sodium hydrosulfite, wide range of market players providing the raw materials for sodium hydrosulfite manufacturing, and multiple applications with sodium hydrosulfite propel the global sodium hydrosulfite market revenue over the forecast years. However, availability of alternative products and decrease in paper and pulp market are expected to hamper the growth of sodium hydrosulfite revenue in future years.
This report gives comprehensive outlook on sodium hydrosulfite across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of product type, formulation, application, and region. This report studies global sodium hydrosulfite market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the global sodium hydrosulfite market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global sodium hydrosulfite market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the market include suppliers, manufacturers, marketers, policy makers, and raw material suppliers engaged in global sodium hydrosulfite products.
Increase in the Demand from End User industries
Increase in the demand for sodium hydrosulfite from end user industries such as textile, paper and pulp, food and beverages, and cosmetic industries is a major factor bolster the market over the forecast years. In the textile industry, sodium hydrosulfite is widely used as reducing agent in various fabrics such as nylon, wool, cotton, and others. Moreover, sodium hydrosulfite also helps to strip the colour from fabrics. In wood pulp industry, sodium hydrosulfite use is gradually increasing due to brightening the wood pulp. Increase in the demand for wood pulp and paper are anticipated to boost the market over the forecast tmeframe.
North America Accounts for Larger Market Revenue Share in Global Sodium Hydrosulfite Market
Global sodium hydrosulfite market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among all the regions, Asia Pacific sodium hydrosulfite market contributed the highest share in 2018 owing to increase in number of sodium hydrosulfite manufacturing industries in China, South Korea, and APAC countries, surge in urban population demanding for textiles, and surge in paper industry in the region. Europe sodium hydrosulfite market creates lucrative opportunities over the forecast years owing to grow in number of end user industries, technological advancements in manufacturing process, and increase in disposable income are propel the market revenue in the future year
Key player’s profiles in the market include:
- BASF SE
- Montgomery Chemicals
- Guangdong ZhongCheng Chemicals Inc. Ltd
- AZ Chemicals Inc.
- Bruggemann Chemical
- TCP Limited
- Chemtrade Logistics Inc.
- Royce International Corp.
- Mitsubisi Gas Chemical Company Inc.
- Jinhe Group
- Finetech Industry Limited
- Hubei Yihua Group
- Jiacheng Chemical
- Shuangqiao Chemical
- Jingrui Chemical
Key Findings of the Report:
- Global sodium hydrosulfite market expanding at significant CAGR over 2020 to 2026 owing to increase in the demand from end user industries around the globe.
- Based on end user, textile industry accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global sodium hydrosulfite market
By Process Type
- Zinc Process
- Sodium Formate Process
By End User
- Wood Pulp Bleaching
- Mineral Flotations
- Food and Beverages
- Cosmetics and Personal Care
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015 – 2019) and Forecast (2020 – 2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market