Sodium Sulfide Market Overview
Sodium Sulfide Market size is forecasted to reach US$790.7 million by 2027, after growing at a CAGR of 6.3% during the forecast period 2022-2027. Sodium Sulfide is derived from minerals such as mirabilite, thenardite, and more. The Sodium Sulfide is reacted with dihalides to form cyclic disulfides like dithiolane, which are frequently employed as a hydrate in industries such as textile, leather, and other such industries for superior chemical bonding. The Sodium Sulfide Market is majorly driven by the growth of the pulp and paper industry. Also, the surging growth of wastewater treatment projects worldwide is expected to fuel the demand for Sodium Sulfide, thereby benefiting the Sodium Sulfide industry growth during the projected forecast period.
Sodium Sulfide Market COVID-19 Impact
In the year 2020, due to the Covid-19 pandemic, the major economies of the world imposed stringent regulations, which hampered the Sodium Sulfide Market growth. The Covid-19 related regulation impacted the supply of materials, this resulted in the decline in imports and exports of Sodium Sulfide. For instance, according to the International Trade Administration (ITA), in 2019, the global imports of Sodium Sulfide were US$276.85 million, and in 2020 it was US$270.87 million, a decline of 2.2%. Furthermore, in 2019, the global exports of Sodium Sulfide were US$235.74 million, and in 2020 it was US$201.26 million, a decline of 17.13%. The decline in imports and exports of Sodium Sulfide at the global level resulted in revenue losses for the market. However, in 2021, the ease of the Covid-19 related regulation strengthened industrial production, which benefited the market growth. Additionally, it is expected that the negative impact of the Covid-19 pandemic will be phased out in upcoming years. This will strengthen the Sodium Sulfide industry growth during the projected forecast period.
Report Coverage
The report: "Sodium Sulfide Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Sodium Sulfide Market.
Key Takeaways
- Asia-Pacific region dominated the Sodium Sulfide Market, owing to the growing pulp and paper industry in the region. For instance, according to the General Statistics Office of Vietnam, in the year 2020, the production of paper for the newspaper industry in Vietnam was 979.3 billion pages, this was about 4.3% higher when compared with the year 2019.
- The growing concerns about water scarcity have boosted demand for the water purification process, which is likely to fuel the market's expansion during the projected forecast period.
- Moreover, the surging application of Sodium Sulfide in medicine to prevent alpha oxidation formation, which can impact the function and stability of antibody-based therapeutics, is creating an opportunity for market growth.
- Nevertheless, the hazardous nature of Sodium Sulfide is restricting the Sodium Sulfide Market growth.
Figure: Asia-Pacific Sodium Sulfide Market Revenue, 2021-2027 (US$ Million)
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Sodium Sulfide Market Segment Analysis – By Type
The low ferric Sodium Sulfide segment held a significant share in the Sodium Sulfide Market in 2021 and is forecasted to grow at a CAGR of 6.8% during the forecast period 2022-2027. The low ferric Sodium Sulfide?has low toxicity and high biodegradability when compared with anhydrous Sodium Sulfide, making it ideal for usage in a variety of industries including leather, rubber, paper manufacturing, and so on. Moreover,?low ferric Sodium Sulfide?aids in the prevention of hydrogen sulfide gas (H2S) generation, which can lead to metal corrosion if left untreated, thereby ensuring resistance from degradation. Furthermore, the low ferric Sodium Sulfide treatment technique is critical in bleaching wood pulp by eliminating lignin without destroying cellulose fibers or disrupting linkages between these three during the cooking stages of the process. Thus, due to these properties of low ferric Sodium Sulfide, its demand is surging, which is accelerating the market growth.
Sodium Sulfide Market Segment Analysis – By End-Use Industry
The paper and pulp segment held a significant share in the Sodium Sulfide Market in 2021 and is forecasted to grow at a CAGR of 7.5% during the forecast period 2022-2027. Sodium sulfide is water-soluble, ensuring superior alkaline solutions properties, which results in the treatment of wastewater and enhances the usage of water multiple times. This property makes the usage of Sodium Sulfide ideal for the pulp and paper industry because during the manufacturing process of pulp the water wastage is high. Higher demand for paper-based products is surging from industries such as food, pharmaceuticals, and others because the paper is used in packaging, and other applications, which is boosting the growth of the pulp and paper industry. For instance, according to the Confederation of European Paper Industries (CEPI), in the year 2020, the total production of paper and paperboard in Europe was 84.97 million tons, and in 2021 it was 90.2 million tons, an increase of about 5.8%. Hence, the surging paper and pulp industry is expanding the demand for cleaning chemicals, which is expected to boost the demand for Sodium Sulfide, thereby, fueling the market growth.
Sodium Sulfide Market Segment Analysis – By Geography
Asia-Pacific region held a significant share in the Sodium Sulfide Market in 2021 up to 38%. The Asia-Pacific industrial growth is driven by the growth of various industries such as paper and pulp, wastewater treatment, and other such industries. The Asia-Pacific paper and pulp industry are growing due to the development of new facilities, the surge in production, and governmental initiatives associated with the paper and pulp industry in the region. For instance, in March 2022, work began on the 33.4 trillion rupiahs (US$2.33 billion) Asia Pacific Resources International Ltd (APRIL Group) paperboard facility?in Indonesia, with completion scheduled for the third quarter of 2023. Moreover, according to the General Statistics Office of Vietnam, in the year 2020, the production of paper cover in Vietnam was 2754.2 thousand tons, an increase of about 13.6% when compared with 2019. Also, the Chinese government's initiatives for the clean and sustainable production of pulp and paper are promoting less wastage of water, reuse of wastewater after filtration, and other such measures are promoting the sustainable pulp and paper industry. Therefore, the surging paper and pulp industry in the Asia-Pacific region is expected to accelerate the demand for Sodium Sulfide, which is further accelerating the market growth.
Sodium Sulfide Market Drivers
Environmental Standards and Laws Governing the Disposal of Wastewater
The federal governments all across the world are enforcing regulations and laws governing the disposal of wastewater. These regulations ensure that the wastewater is filtered, used multiple times in production, and disposed of without polluting the environment. The factors such as health concerns associated with wastewater, degrading environmental impacts, and other factors are encouraging federal governments to establish new laws related to wastewater treatment. For instance, in September 2021, the United States Environment Protection Agency (EPA) implemented preliminary Effluent Guidelines Program Plan 15. The strategy recognizes the potential to improve public health and the environment through wastewater pollution regulation. Preliminary Plan 15 aims to eliminate toxins from major industries, such as PFAS and nutrients, also ensuring the safe disposal of industrial wastewater. Moreover, United Nations Economic and Social Commission for Asia and Pacific (UNESCAP) has made a policy guideline manual for wastewater management. Hence, such standards and laws are aiding the growth of the cleaning chemicals, which is expected to expect to surge the demand for Sodium Sulfide, thereby, driving the market growth during the upcoming years.
The Surging Mining Industry
Sodium Sulfide is deployed in the mining industry for the hydrometallurgy of ores?such as?copper, zinc, and other mining materials for the flotation of such minerals in their oxidized form. The mining production of ores is increasing due to the factors such as new mining projects, advancements in mining technology, and more. For instance, according to the United States Geological Survey (USGC), in 2020, the global copper mining was 20,600 thousand metric tons, and in 2021 it is estimated at 21,000 thousand metric tons, an increase of about 2%. Furthermore, in 2020, the global zinc mining was 12,000 thousand metric tons, and in 2021 it is estimated at 13,000 thousand metric tons, an increase of about 8.3%. Hence, the growing mining industry is resulting in the growing demand for flotation agents of ores, which is projected to enhance the Sodium Sulfide Market growth.
Sodium Sulfide Market Challenges
Hazardous Properties of Sodium Sulfide
The use of Sodium Sulfide is beneficial for the treatment of oxidation and other affluent. However, on the flip side, Sodium Sulfide is considered a hazardous substance, which is impacting the marketing growth. The various federal departments have considered the use of Sodium Sulfide hazardous. For illustration, The New Jersey Department of Health has listed Sodium Sulfide in the category of a special health hazard substance list. Moreover, the Australasian Institute of Mining and Metallurgy has listed Sodium Sulfide in the hazard chemical list. Therefore, because Sodium Sulfide is considered under the hazardous substance list the product developments and adoption are being restricted, which is hindering the Sodium Sulfide Market growth globally.
Sodium Sulfide Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the Sodium Sulfide Market. Sodium Sulfide top 10 companies are:
- Shaanxi Fuhua Chemical
- Solvay
- Inner Mongolia Lichuan Chemical
- Longfu Group
- Yabulai Salt Chem
- Sankyo Kasei
- Novochrom
- Rahul Barium Chemicals
- Nafine Chemical Industry
- Shenhong Chemical
Relevant Reports
Report Code: CMR 85395
Report Code: CMR 1232
Report Code: CMR 1045
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LIST OF TABLES
1.Global Sodium Sulfide Market, by Type Market 2023-2030 ($M)2.Global Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Sodium Sulfide Market, by Type Market 2023-2030 (Volume/Units)
4.Global Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Sodium Sulfide Market, by Type Market 2023-2030 ($M)
6.North America Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Sodium Sulfide Market, by Type Market 2023-2030 ($M)
8.South America Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Sodium Sulfide Market, by Type Market 2023-2030 ($M)
10.Europe Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Sodium Sulfide Market, by Type Market 2023-2030 ($M)
12.APAC Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Sodium Sulfide Market, by Type Market 2023-2030 ($M)
14.MENA Sodium Sulfide Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
LIST OF FIGURES
1.US Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)2.Canada Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
6.Peru Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
8.Chile Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
10.UK Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
11.Germany Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
12.France Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
13.Italy Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
14.Spain Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
16.China Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
17.India Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
18.Japan Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global Sodium Sulfide Industry Market Revenue, 2023-2030 ($M)
21.North America Global Sodium Sulfide Industry By Application
22.South America Global Sodium Sulfide Industry By Application
23.Europe Global Sodium Sulfide Industry By Application
24.APAC Global Sodium Sulfide Industry By Application
25.MENA Global Sodium Sulfide Industry By Application