Between 2017 and 2024, the global sodium sulfate market is forecast to rise at a 2.93% CAGR to touch a US$ 1,512 Mn by the end of 2024. In 2017, the market was worth a US$ 1,235 Mn.
The global sodium sulfate production increased to 15.9 MT in 2017 from 14.3 MT recorded in 2013 at a 2.66% CAGR. The future demand in the global sodium sulfate market could be best indicated by the factor of overall economic performance. General economic conditions are envisaged to significantly influence the demand in most downstream markets. The patterns of leading world economies are largely followed by the demand in the market.
Global Sodium Sulfate Market: Drivers
Increasing application in glass making as a fluxing agent
High use in soaps and detergents as a filler and diluting agent
Rising demand in the construction and automotive industries
Global Sodium Sulfate Market: Restraints
Availability of substitutes such as emulsified sulfur
Increasing inclination toward concentrated liquid detergents instead of bulkier powder formulations
Reducing demand for sodium sulfate in other end-use industries
Global Sodium Sulfate Market: Segmentation by Product and Application
By product, the report studies key segments, viz. byproduct and natural product sodium sulfates.
By end user, the global sodium sulfate market is classified into textile and leather industry, cellulose and paper industry, glass industry, detergent and cleaning agent industry, and others. As per the report, the detergent and cleaning agent industry is the most popular end user of sodium sulfate. The pharmaceutical and feed industries are prophesied to secure an insignificant consumption share of the market.
Global Sodium Sulfate Market: Forecast by Regional Consumption
China consumes a 57.4% or 9,126.4 K MT of the total volume of sodium sulfate produced in the world, making it the largest consumption market. In 2017, Europe consumed approximately 1,478.3 K MT, which is about 9.3% of the total consumption. In the same year, South America and Southeast Asia took 3.42% and 6.88% shares of the global sodium sulfate market in terms of consumption.
The U.S. is a relatively smaller market for sodium sulfate if consumption is concerned. The consumption in this country has almost been stagnant since the past two decades or so. Argentina and Brazil are the key consumer markets in South America, amongst which Brazil secures an over 75.0% share of the regional sodium sulfate consumer market.
Indonesia and Thailand are studied to be key for the regional growth of Southeast Asia, whereas Poland, Germany, France, Britain, and Portugal are important consumption markets for Europe.
Global Sodium Sulfate Market: Forecast by Regional Production
In terms of production, China dominates the global sodium sulfate market, owing to the access to inland salt lakes in the country. China mostly produces natural sodium sulfate. It bagged a 79.2% share of the total sodium sulfate production in 2017. In the same year, its production reached 12,581.7 K MT.
Europe takes the second position in the global sodium sulfate market on the basis of production. It accounts for a 14.7% share of the total production. The European production of sodium sulfate is mostly concentrated in Spain.
Although Spain and China are the market leaders in terms of production, the product prices in China are cheap. The country is also the largest exporting one in the world. It exported around 3,634 K MT of sodium sulfate in 2016. Spain ranks second among the world’s largest sodium sulfate exporting countries. Over 80.0% of the total sodium sulfate produced is exported to South America and Europe inland every year.
In relation to the import of sodium sulfate, the MEA, Africa, India, Southeast Asia, and Brazil are the important regions and countries.
Global Sodium Sulfate Market: Competitive Analysis
Small local businesses in regions and countries other than Europe and China are observed to secure most of the total share of the global sodium sulfate market. Based in China, NaFine Chemical Industry Group is the largest manufacturing company in the world. It collected a market share of 7.94% in 2017. Other leaders operating in China are Sichuan Union Xinli Chemical and Jiangsu Yinzhu Chemical. In Europe, Alkim Alkali, MINERA DE SANTA MARTA, and Grupo Industrial Crimidesa are the market leaders.
As surveyed, Chinese manufacturers are blessed with large-scale excess capacity. However, the continued expansion of Chinese companies is predicted to have an ill effect on the industry. The price of sodium sulfate has started to rise due to the implementation of stringent environmental protection policy for the industry by the Chinese government since the past couple of years.Would like to place an order or any question, please feel free to contact at email@example.com & Richard@amecoresearch.com