Sodium Sulfide Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific industry is anticipated to dominate majority revenue share of 44% by 2035. 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 Insights
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.
