Vancouver, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The global sodium sulfate market size was USD 1.20 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.5% during the forecast period. Key drivers of this growth include the burgeoning textile industry, increasing applications in construction and chemical manufacturing, and advancements in manufacturing processes.
The chemical industry, in particular, is experiencing substantial growth due to the rising demand for specialty chemicals across diverse applications. Sodium sulfate, as a crucial raw material in chemical production, is benefiting from this trend. Innovations in catalysis and reaction engineering are optimizing manufacturing processes, making them more economical and environmentally sustainable. Sodium sulfate's application extends to drilling fluids in the Oil & Gas sector, further contributing to its growing demand. Additionally, the market is influenced by globalization, international trade, and diverse regional industrial needs.
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Challenges such as fluctuating raw material prices and high energy requirements in the traditional Mannheim process pose potential restraints to market growth. As industries increasingly prioritize sustainability, the high energy consumption associated with sodium sulfate production raises environmental concerns, potentially driving the exploration of greener alternatives.
In 2022, the soaps & detergents segment claimed the largest revenue share in the global sodium sulfate market. The cost-effectiveness of sodium sulfate, coupled with its compatibility and versatility in various detergent formulations, has led to its widespread adoption. Sodium sulfate's role in improving flow properties and preventing clumping in powdered detergents enhances manufacturing efficiency, reducing time and costs.
The glass industry segment is expected to register a steady revenue growth rate during the forecast period. Sodium sulfate's use in reducing batch devitrification, viscosity control, and cost-effective manufacturing is driving demand, especially with significant investments in glassware, windows, and containers. The pharmaceuticals segment is poised to account for a large revenue share due to the rising prevalence of chronic diseases. FDA-approved medications like Suflave utilize sodium sulfate for colon cleansing in adults preparing for colonoscopies.
The salt cake segment is projected to register a moderately fast revenue growth rate, driven by ease of handling, cost-effective transportation, and the rising demand for customizable formulations in industrial processes. Precision in dosing and the ability to tailor formulations accurately are contributing to the preference for sodium sulfate in salt cake form.
North America dominated the global sodium sulfate market in 2022, attributed to technological advancements, significant R&D investments, and the rising demand for sodium sulfate in various applications.
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The Asia Pacific region is expected to witness the fastest growth rate, driven by the demand for textiles, leather processing, and the rapid expansion of the detergent industry. China, with its water treatment applications, held the largest revenue share in 2022.
Europe is anticipated to account for a considerably large revenue share, fueled by increasing focus on environmental regulations and rising demand from automotive, construction, and chemical manufacturing industries. The global sodium sulfate market is navigating a path of robust growth fueled by diverse applications and industries. While challenges like fluctuating prices and energy consumption exist, the market's resilience is underscored by continuous innovations, sustainability efforts, and a growing global demand.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 1.20 Billion |
| CAGR (2023–2032) | 4.5% |
| Revenue Forecast To 2032 | USD 1.85 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Application, type, form, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Aditya Birla Group, Nippon Chemical Industrial Co., Ltd., Lenzing Industrial, Echemi Group, Cordenka GmbH & Co. KG, China Nafine Group International Co., Ltd., Elementis PLC, Tokyo Chemical Industry Pvt. Ltd., Alkim Alkali Kimya A.Ş., and Ecobat |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global sodium sulfate market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective sodium sulfate solutions.
Some major players included in the global sodium sulfate market report are:
- Aditya Birla Group
- Nippon Chemical Industrial Co., Ltd.
- Lenzing Industrial
- Echemi Group
- Cordenka GmbH & Co. KG
- China Nafine Group International Co., Ltd.
- Elementis PLC
- Tokyo Chemical Industry Pvt. Ltd.
- Alkim Alkali Kimya A.Ş.
- Ecobat
Strategic Development
- On 6 December 2022, Elementis PLC, which is UK-based leading manufacturer of specialty chemicals announced to sell its Chromium business to Yildirim Group for an enterprise value of USD 170 million. The transaction includes transfer of environmental liabilities of USD 35 million and other liabilities of USD 8 million, with the total cash proceeds on completion expected to be around USD 119m before tax, after all transaction costs and subject to customary closing working capital adjustments.
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For the purpose of this report, Emergen Research has segmented the global sodium sulfate market on the basis of application, type, form, end-use, and region:
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Soaps and Detergents
- Textile
- Glass
- Others
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Natural
- Synthetic
- Form Outlook (Revenue, USD Billion; 2019-2032)
- Salt Cake
- Glauber’s Salt
- Niter Cake
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Glass Industry
- Leather Industry
- Pharmaceuticals
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
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