Sodium sulphate is an inorganic salt that is primarily used in the production of glass, which is being increasingly used in the construction sector. In recent years, the expansion of the construction industry has created an extensive requirement for glass, owing to which, the production of sodium sulphate has escalated rapidly. Nowadays, the industry is using larger volumes of glass, as compared to cement and bricks, in the construction of modern buildings. Glass manufacturers use sodium sulphate as a fining agent to remove minute air bubbles from molten glass.
In addition, the soaring demand for powdered detergents from emerging economies of Asia-Pacific (APAC), Latin America (LATAM), and Africa, including Thailand, India, the Philippines, Vietnam, China, Colombia, Indonesia, Chile, and Brazil, is expected to drive the sodium sulphate market at a CAGR of 2.6% during the forecast period (2019–2024). The market revenue stood at $2,019.3 million in 2018 and it is projected to exceed $2,109.4 million by 2024. The rising usage of detergents in such countries can be ascribed to the shift from hand to machines for washing clothes and macroeconomic growth of these countries.
In recent years, sodium sulphate manufacturers, such as MINERA DE SANTA MARTA S.A., Nafine New Material Co. Ltd., Xinli Chemical, Grupo Industrial Crimidesa, and Jiangsu Yinzhu Chemical Group Co. Ltd., have been largely focusing on geographical expansions, product launches, and mergers and acquisitions to cater to a vast consumer base. For example, in November 2018, an independent private equity firm, Beautiful Mind Capital (BMC), acquired Cordenka from Chequers Capital, with an investment of $268 million. The latter will transfer all its assets, including its Obernburg site, which produces 40,000 metric tons of anhydrous sodium sulphate.
According to P&S Intelligence, the APAC region consumed the highest quantity of sodium sulphate in the past few years, and it is expected to retain its dominance in the coming years as well. This can be primarily owed to the large-scale consumption of the inorganic salt in China for the production of textiles and soaps and detergents. Additionally, the surge in the personal care sector in China is augmenting the demand for sodium sulphate, as it is required for manufacturing soap bars, shampoos, body washes, and several other hygiene and personal care products.
Furthermore, the APAC sodium sulphate market is also expected to demonstrate the fastest growth throughout the forecast period. This can be ascribed to the escalating demand for paper, glass, soaps, and detergents to cater to the soaring population in the region. Besides, the growing awareness regarding hygiene, the surging popularity of Western culture, burgeoning population, and increasing purchasing power of the people in India, Vietnam, and China will also contribute to the market growth in the region.
Thus, the mounting demand for glass, soaps, and detergents in various parts of the world will boost the need for sodium sulphate in the coming years.
The global Sodium Sulphate Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the sodium sulphate market include Nippon Chemical Industrial Co., Elementis Plc., Lenzing AG, Shikoku Chemicals Corporation, Atul Limited, Nikunj Chemicals, Cooper Natural resources Inc, Searles valley minerals, Sigma Aldrich and TCI Chemicals.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Sodium Sulphate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/sodium-sulphate-market/download-sampleMarket DynamicsThe key driving factor for sodium sulphate market growth is the rapidly increasing global population resulting in increasing demand for products like paper, detergents and glass, where sodium sulphate is used as a component.
Another factor fuelling the growth of sodium sulphate market is the increasing use of Na2SO4 as a laxative, in the healthcare sector, for diagnostic procedures like colonoscopy.
However, factors like inclination towards using liquid detergents and soaps instead of powder detergents, environmental concerns and change in production process are restraining Na2SO4 market growth.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
