In its report titled, “Sodium Sulphide Market: Global Industry Analysis and Forecast, 2016 – 2024”, Persistence Market Research (PMR) estimates that the global consumption of sodium sulphide is projected to grow at a sluggish CAGR of 2.9% to reach 1,157 KT by 2024. Asia Pacific (APAC) will remain the largest market; however, demand will remain stifled on account of growing concerns about environmental damage. While leather processing will account for the bulk of demand, regular grade sodium sulphide will completely outsell high-purity variant.
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Application Sodium Sulphide for Ferrous & Non-Ferrous Metal Production to Propel its Market Growth
Sodium sulphide is widely utilized in dehairing process for leather production owing to its relatively higher effectiveness, efficiency and efficaciousness than other alternatives. The market is expected to grow on account of sodium sulphide applications in ore processing. Sodium sulphide manufacturers are likely to witness steady demand from ferrous and non-ferrous production companies, especially those in the ore floatation process. However, in spite of steady demand from end-use industries, market growth will remain sluggish over the forecast period owing to the hazardous effects of sodium sulphide. The broader industry-wide scrutiny by regulatory authorities will negatively impact demand for sodium sulphide, with cleaner, less harmful chemicals gaining traction.
Key Findings in the Report Include
- Regular grade sodium sulphide will continue to remain sought-after among manufacturers. This product type segment accounted for 95% revenue share of the market in 2016. The status-quo is projected to remain unchanged during the forecast period.
- Leather processing remains the largest end-user of sodium sulphide. This segment will grow at a higher CAGR than the overall market, reaching () Mn by 2024. Demand will also remain steady in the pulp and paper industry.
In addition to Asia Pacific, Latin America and Europe will remain the other leading markets for sodium sulphide. Manufacturers in these markets will continue to use sodium sulphide for leather production. Latin America and Middle East & Africa (MEA) are expected to reflect 3.1% and 2.4% CAGRs respectively in term of volume during the forecast period.
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Key players partaking in the global sodium sulfide market include Solvay SA, Inner Mongolia Lichuan Chemical Co. Ltd., Changsha Vahenry Chemical Co. Ltd., Tessenderlo Group, Xintai Wanhe Chemical Co. Ltd., and China Nafine Group International Co. Ltd. These players are focusing on development of application specific tailored solutions and product innovations.
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