13-Jul-2018 | Zion Market Research
Zion Market Research has published a new report titled “Sodium Sulfate Market by Source (Synthetic and Natural), by Application (Detergents & Soaps, Carpet Cleaners, Textiles, Kraft Pulping, Glass and Others (Oil Recovery, Food Preservatives, etc.)): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global sodium sulfate market was valued at USD 1959.8 million in 2017 and is expected to reach USD 2527.4 million in 2024, growing at a CAGR of 3.7% between 2018 and 2024.
Sodium sulfate is generally known as mineral mirabilite, which is widely used in various chemical industries and commercial applications. Sodium sulfate is suitable for various applications and has generated massive demand in 2017. The increasing end-user demand for sodium sulfate is anticipated to fuel the market. The increasing use of sodium sulfate in consumers is expected to fuel the market. Government is supporting as well as promoting the ecological policies. Sufficient raw material accessibility also supports the growth of the market. The increasing detergents & soaps, carpet cleaners from emerging economies is the major key factor that is driving the market growth. The optional low price substitutes and fluctuating prices of the raw materials may hamper the growth of the market. The manufacturing companies are focusing on inventive products thus anticipating to open new opportunities for the market.
Browse the full "Sodium Sulfate Market by Source (Synthetic and Natural), by Application (Detergents & Soaps, Carpet Cleaners, Textiles, Kraft Pulping, Glass and Others (Oil Recovery, Food Preservatives, etc.)): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/sodium-sulfate-market
Depending on the source, global sodium sulfate market includes synthetic sodium sulfate and natural sodium sulfate. Natural sodium sulfate can be naturally derived from lakes, arid region, and springs. Presently, half the sodium sulfate in the universe is formed from natural mine and the other half of the sodium sulfate is derived from industrial processes. In terms of value, natural sodium sulfate type is expected to grow at the highest CAGR in the forecast period. Natural sodium sulfate is more preferable in multiple applications and thus having a huge demand in 2017.
Detergents & soaps application segment held the significant share among other applications in 2017. In the global sodium sulfate market, detergents & soaps application segment contributed for over 40% share. It is expected to continue its dominance in the forecast period. There is an increasing demand for sodium sulfate from automotive and construction industries; glass applications are also expected to expand over the forecast period. The rising demand for sodium sulfate in the automotive and construction segment is expected to propel the market growth. Sodium sulfate is widely used in the kraft process of wood pulp manufacturing application. Increasing investments in kraft pulping processing are projected to augment the demand for the product over the forecast period. The growth of the pulp and paper segment is directly attributed to the growth of the paper recycling industry. The food preservatives and oil recovery application segment hold several opportunities and is expected to be the major growth driver for the sodium sulfate market in the future.
The Asia Pacific was the leading market for sodium sulfate in 2017. In terms of value and volume, Asia Pacific accounted for 45% of the global market. Moreover, Asia Pacific is the fastest growing market of sodium sulfate within the forecast period. It is expected that great prospectives will be opened to surge the demand for sodium sulfate due to the rising positive regulations in the region. In 2017, North America was the second largest region for sodium sulfate with around 21% share followed by Europe holding around 18% of the market share. The sodium sulfate market in North America and Europe are less attractive because of more preference for liquid detergents usage as compared to powder detergents. Furthermore, the changing dynamics in the lifestyle of people and growing disposable income in the region is expected a positive effect on the demand for sodium sulfate in the region.
Some of the major players of the global sodium sulfate market include Alkim Alkali Kimya A.S., Saskatchewan Mining and Minerals Inc., Cordenka GmbH. & Co. KG, Birla Cellulose, Grupo Industrial Crimidesa S.L., Cooper Natural Resources, Elementis Plc, Minera De Santa Marta, Lenzing Group, S.A. Sulquisa, Searles Valley Minerals and XinLi Chemical, among others. Major companies in the market adopted acquisitions, mergers and expansions strategy to enlarge their production capacities and share in the sodium sulfate market in the forecast period.
This report segments the global sodium sulfate market as follows:
Global Sodium Sulfate Market: Source Analysis
Global Sodium Sulfate Market: Application Analysis
Global Sodium Sulfate Market: Regional Analysis
Browse New Press Release: https://www.zionmarketresearch.com/news/sodium-sulfate-industry
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