The market for sodium sulfate is being driven due to the rising
demand for sodium sulfate for the manufacturing of glass, paper & pulp,
plasticizers, concrete, and others. These products are widely used in various
end-use industries such as building construction, the solar industry, soaps
& detergents, and others. The rise in the development of these industries
will eventually drive the sodium sulfate market. For instance, in December
2020, Emerge Glass, an existing flat glass manufacturer, announced that it will
begin the commercial production of container glass with a designed capacity of
210 tonnes per day in Behror, Rajasthan. Additionally, in March 2022 Saint
Gobain, a French glassmaker, started a new float-glass line at its integrated
glass manufacturing facility in Sriperumbudur, near Chennai. Globally, the
rising growth of new glass manufacturing units is considered one of the major
factors driving the demand for the sodium sulfate market. Sodium sulfate market size is forecast to reach US$1.86 billion by 2027, after growing at a CAGR of 3.8% during 2022-2027.
Also, Sodium sulfate has expanded its application in the
energy industry. According to the Global Outlook for Solar Power Industry
published by the Global Solar Council, a total of 138.2 GW solar PV capacity
was installed across the world during 2020, which indicated an increase of 18%
in comparison to 117.6 GW solar in the year 2019. China was the leading country
with 48.2 GW of solar PV capacity installed in 2020. This is followed by the US
with 19.3 GW, Vietnam with 11.6 GW, Japan with 8.2 GW, and Australia with 5.1
GW of total solar PV capacity installed by 2020. Thus, such a surging
implementation of solar energy along with the growth of the solar power
industry is expected to increase the demand for sodium sulfate for use in solar
panels, photovoltaic modules, and other solar applications in the upcoming
years.
Moreover, the rise in the development
of green construction has grown as they are considered to be environmentally
friendly, and durable, reducing the risk of deterioration of the structure, and
optical glass reflects the sun’s harmful UV rays. Window glass and concrete
made from sodium sulfate are highly preferable in green building construction.
This means facility managers and property owners can save thousands of dollars
by cutting their facility’s cooling costs during the warm summer months and
reducing the HVAC system workloads. Thus, the construction and building sector
is providing a powerful tool to stimulate the economy, by moving the whole
sector to a new and greener place. Besides, green buildings can achieve massive
long-term savings in cost and greenhouse gas (GHG) emissions. Thus, the demand
for sodium sulfate is also simultaneously increasing due to its cost-effective
and eco-friendly nature. For instance, in 2020 the International Energy Agency
(IEA) estimates that sustainable buildings can save up to US$1.1 trillion by
2050 in long-term construction spending. Green housing construction is already
a priority in many of the region’s countries, and meeting stated goals and
expected demand for housing will create an estimated investment opportunity of
US$4.1 trillion in green buildings. Thus, positively impacting the sodium
sulfate market.
Additionally, the surge in the demand
for cleaning products is predicted to boost the sodium sulfate market during
the forecast period. In recent years, with the rising awareness regarding
health & hygiene due to covid 19 pandemic, the demand for the health and
hygiene products such as detergent and personal care products is also rising.
Sodium sulfate is used mostly in the production of detergents. For
instance, according to the Indian Brand Equity Foundation, in August 2021, Soothe
Healthcare, an Indian personal hygiene products brand, invested US$ 17.54
million in a Series-C round of funding from A91 Partner Partners. Additionally,
in 2021, Godrej Consumer Products Limited (GCPL) expanded its laundry portfolio
and P&G launched a new line of laundry care products. Thus, the increment
in the demand for health and hygiene products, will increase the usage of
detergents and will drive the sodium sulfate market growth. Additionally, the detergents are
extensively being used in hospitals for cleaning and washing purposes of the
apparel of healthcare workers and patients. Therefore, the rising investments
in hospitals to increase the workforce and inpatient capacity is driving the
market growth. For instance, the Manitoba government announced US$5million, to
increase inpatient capacity and to raise the number of endoscopies and
surgeries, by renovating the Dauphin Regional Health Centre.
Asia-Pacific
region dominated the sodium sulfate market in terms of revenue with a share of 58.9%
in 2021 and is projected to dominate the market at a CAGR of 4.3% by revenue during the forecast
period (2022-2027). In developing countries such as India, South Korea, and
Malaysia, the increasing demand for sodium
sulfate from the building & construction, and solar energy sectors is
driving the sodium sulfate market.
The use of sodium
sulfate as a fining agent, to help remove small air bubbles from molten glass
and for thermal energy storage in solar panels, is driving the sodium
sulfate market. For instance, Sembcorp Floating Solar Singapore, a wholly-owned subsidiary of Sembcorp
Industries (Sembcorp), and National Water Agency PUB, have opened the Sembcorp
Tengeh Floating Solar Farm at the Tengeh Reservoir in July 2021 with 122,000
solar panels spanning across 45 hectares, the 60 megawatt-peak (MWp) solar
photovoltaic (PV) farm is one of the world’s largest inland floating solar PV
systems. Furthermore, the Shanghai Chip Manufacturing Plant of value at US$8,870 million begins
construction in early 2022. The project involves the construction of a 12-inch
wafer manufacturing plant in Shanghai, China, and is expected to be completed
in the third quarter of 2024. Thus, such surging development related to solar
energy and building & construction sectors in the Asia-Pacific region is
expected to boost the demand for sodium sulfate for use in solar panels,
photovoltaic modules, and buildings such as in concrete, glass windows, and
more.
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Sodium Sulfate Market Growth Driver
The Increasing Demand for Sodium Sulfate in the Food and
Beverage Industry
In the food and beverage industry, sodium sulfate finds its usage
as animal feed and as a diluent for food color. Sodium Sulfate anhydrous food
grade appears as a white, crystal powder and is used as an acidity regulator in
the food industry. Sodium sulfate as animal feed has positive effects on the
dietary electrolyte balance (DEB) and additional benefits on feed and litter
quality and is a cost-effective alternative to sodium bicarbonate. The rising
growth of animal feed will drive the sodium sulfate market growth. For
instance, according to Invest India, in 2020, the demand for overall Animal
feed was valued at US$8.3 billion with a growth rate of 4.3% over the previous
year. Furthermore, the increasing growth of the food and beverage industry will
drive the demand for sodium sulfate. For instance, according to the China Chain
Store & Franchise Association, China's food and beverage (F&B) sector
reached approximately US$595 billion in 2019, with a 7.8% increase over 2018.
Additionally, according to the governments of Canada and Ontario, the
governments invested US$6 million in projects to help Ontario food and beverage
processors to increase their competitive edge, adapt to challenges as we move
beyond the pandemic, and improve their operations. Thus, with the rising growth
and increasing investments in the food and beverage sector, the market for
sodium sulfate will further rise over the forecast period
The Major Players in this Market Include
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the sodium sulfate market. Global sodium sulfate top 10 players include: Shikoku Chemicals Corporation, Industrias Penoles S.A. de C.V, Minera De Santa Marta S.A. (SAMCA Group), JSC Kuchuksulfate, Volzhsky Orgsynthese, JSC, Alkim Alkali Kimya A.S., Lenzing AG, S.A.U. Sulquisa (Minersa Group), China Nafine Group International Co. Ltd., and Norilsk Nickel among others.
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