Sodium Sulfate Market is anticipated to grow at a CAGR of 1.69% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Sodium Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global sodium sulfate market is estimated to account for US$ 961.31 million in 2019. The market is anticipated to grow at a CAGR of 1.69% from 2019 to 2030.
The sodium sulfate market growth is driven by factors such as increasing use of sodium sulfate in various industries including filling material & diluting agent in detergent and catalyst & electrolyte in the textile industry. The consumption of sodium sulfate in soap & detergent industry is highest as compared to other industries. The detergent industry holds approximately 39% of the sodium sulfate market share globally. Additionally, the increasing applications of sodium sulfate in glass, chemical, healthcare, and pharmaceutical industries is further propelling market growth.
Moreover, the low cost and easy availability of sodium sulfate are likely to increase the consumption of sodium sulfate in the various end-use industries. The rising demand for sodium sulfate in solar energy storage applications is opening new avenues for the market.
However, the increasing use of sodium sulfate substitutes across various end-use industries is likely to hinder the market globally. For instance, the use of sodium chloride in the detergent industry, use of sodium hydroxide in the paper & pulp industry, and use of calcium sulfate in the glass making process will adversely affect market growth.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Sodium Sulfate Market by Type (Natural and Synthetic), End-Use Industry (Detergent, Paper & Pulp, Glass, and Textile) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/sodium-sulfate-market/168
In 2018, Asia Pacific accounted for the largest market share globally and is expected to grow with the highest CAGR during the forecast period. The sodium sulfate market growth in the Asia Pacific region is mainly driven by increasing demand from end-use industries such as detergents, textile, glass, and paper & pulp industry.
Some of the prominent players in the sodium sulfate market include Birla Cellulose, Alkim Alkali Kimya A.S., Cordenka GmbH & Co KG, Cooper Natural Resources, ELEMENTIS PLC, LENZING AG, PJSC MMC Norilsk Nickel, MINERA DE SANTA MARTA, S.A., Nippon Chemical Industrial CO., LTD., and Grupo Industrial Crimidesa S.L., among others.
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