Sodium Sulfide Market size was valued at USD 12.6 Billion in 2023 and is predicted to reach USD 23.8 Billion by the end of 2036, expanding at around 9.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sodium sulfide is evaluated at USD 13.2 Billion.
The sodium sulfide market growth is attributed to the growing population, which has increased the demand for leather products. The use of sodium sulfide in the manufacturing of leather products is huge because it acts as a dehairing agent. According to Research Nester analysis, the global leather industry produces over 23 billion square feet of leather annually.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
9.5% |
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Base Year Market Size (2023) |
USD 12.6 Billion |
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Forecast Year Market Size (2036) |
USD 23.8 Billion |
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Regional Scope |
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By Type (Low Ferric Sodium Sulfide, Crystal Sodium Sulfide, Anhydrous Sodium Sulfide)
Low ferric sodium sulfide segment is estimated to account for more than 57% sodium sulfide market share by the end of 2036. The segment growth can be attributed to the growing use of low ferric sodium sulfide in textile and paper manufacturing due to its high solubility.
Moreover, the increasing demand for iron and metals due to rapid urbanization has increased the use of low-ferric sodium sulfide in the mineral industry, which boosts segment growth. Additionally, low-sodium sulfide is considered a safe chemical as compared to others, which leads to its huge adoption.
By Application (Textile, Paper & Pulp, Water Treatment, Tanneries)
By the end of 2036, paper & pulp segment is poised to dominate around 54% sodium sulfide market share. The rising middle-class income and boom in the fashion industry are responsible for an increasing demand for textile manufacturing. As per Research Nester estimates, in 2020, the global middle class spent USD 42 trillion, or 63.2% of the world’s consumer spending.
Moreover, with the rising demand for textile manufacturing, the need for sodium sulfide in the textile industry is also increasing as it provides finishing to fabrics. In addition, the growing demand for sodium sulfide in the textile industry boosts the segment growth.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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Asia Pacific Market Statistics
Asia Pacific in sodium sulfide market is expected to hold more than 44% revenue share by 2036. The market growth in the region is expected on account of economic growth, rapid urbanization, and industrialization.
The growing population and rising disposable income in India have increased the demand for products like footwear, bags, and other industrial goods. This leads to an increase in the adoption of sodium sulfide in various industries including leather, mining, and textile, and stimulates its sodium sulfide market growth. According to a report published by the Ministry of Statistics and Program Implementation (MOSPI), the total population in India was estimated at 1373.8 million people in 2022.
In China, strict environmental regulations and environmental conservation practices stimulate the demand for eco-friendly products. Moreover, the rising demand for eco-friendly products encourages the use of sodium sulfide in the manufacturing and chemical industries. As per a report published on Consumer Awareness and Behavior Change in Sustainable Consumption by China Sustainable Consumption Research Program, about 70% of Chinese consumers are aware of sustainability with more than 70% willing to pay higher prices for sustainable products.
North America Market Analysis
The North American region will also encounter huge growth in the sodium sulfide market during the forecast period and will hold the second position owing to the well-established industrial infrastructure and technological advancements.
In the US, the growing demand for ferrous and non-ferrous metals such as iron, copper, and steel has increased ore processing. There is an increasing use of sodium sulfide in ore processing in the mineral industry, which expands the sodium sulfide market. According to a report published by the United States Geological Survey (USGS), USD 105 billion worth of nonfuel mineral commodities were produced by US mines in 2023, including industrial minerals and natural aggregates.
The growing need for sodium sulfide in the water treatment industry in Canada is boosting market growth. Due to rising concerns about water contamination, the need for effective water treatment is increasing. Moreover, sodium sulfide is a crucial chemical that is used in water treatment processes, increasing its adoption in the water treatment industry. According to a report published by the Government of Canada, in 2021, releases from wastewater treatment facilities accounted for 57%, 53%, and 47% of total releases of mercury, lead, and calcium, respectively.
The sodium sulfide market consists of several significant key players and chemical manufacturing companies that cater to the needs of various industries. Some of the key players in the market include:
Author Credits: Rajrani Baghel
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