Sodium is a soft and silvery metal that belongs to the alkali group of metals and is kept in oil as it is extremely reactive. Molten sodium is widely used as a heat exchanger in various nuclear reactors and as a reagent across the various chemical industry. Sodium metal is extracted by the electrolysis of fused caustic soda where it is mixed with little carbon and iron. Moreover, sodium metal is also used in the production of sodium peroxide, sodamide, and sodium cyanide. Sodium metal is also used in metal refining and as a key intermediate product in the production of chemicals and pharmaceutical products. Chemical, metal, glass, paper, soap, petroleum, and textile industries are some of the major end-user of sodium metal.
The global sodium metal market is estimated to account for around US$ 281.9 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 4% during the forecast period (2019-2027)
Drivers:
Increasing demand for sodium metal from the refining industry for refining metal such as silver, metallic lead and zinc is expected to augment the market growth of sodium metal. Also, growing demand for sodium metal in the production of metals such as titanium and silicon are again fueling the market growth. Moreover, sodium metal is also used in the pulp and paper industry where its Sodium borohydride type is used. The aforementioned emerging applications are projected to foster market growth.
Market Opportunities
The growing usage of sodium metal in nuclear reactors as the heat exchanger is expected to foster the market growth of sodium metal. Moreover, it is also used as additive sodium metal batteries for locomotive applications which is also expected to offer potential growth opportunities to the market of sodium metal over the forecast period. Furthermore, growing applications in electrochemical sensor where it is used to measure the sodium levels in aluminum alloys is further projected to foster the market growth.
Market Restraints
Consumption of excessive sodium can also lead to cardiovascular disorder as it increases the blood pressure is expected to restrain the market growth of sodium metal. Sodium in excessive amounts may stress the blood vessels and thus increase the risk of cardiovascular disorder. Moreover, the high content of sodium in the diet also increases the risk of cancer which is further expected to limit the market growth of sodium metal.
Key Takeaways:
On the basis of application, the chemical synthesis segment dominated the global sodium metal market in 2018 with a 70.8% of market share in terms of value, followed by metal manufacturing & refining and pharmaceutical.
Market Trends
The growing popularity of sodium battery is projected to be a major trend in a market and this trend is expected to foster the market growth of sodium metal. For instance, in March 2015, the Faradion e-bike launch proves sodium-ion battery technology. Sodium-ion batteries have significant advantages as they can be produced at around 30 percent lower cost due to the presence of sodium salts – which cost one-tenth of the price of equivalent salts in lithium-ion batteries – and lower electrolyte costs.
Increasing focus of manufacturers to enhance the production capacity of sodium by establishing a new plant is expected to augment the market growth of sodium metal. For instance, in January 2020, India has inaugurated a new facility that will allow the country to produce high purity sodium metal on an industrial scale. The industrial plant is being built following the successful operation of a demonstration plant, and will ultimately have a production capacity of 600 tons of sodium per year.
Competitive Section:
Key players operating in global sodium metal market are Inner Mongolia LanTai Industrial Co., Ltd, Wanji Holdings Group Limited, MSSA S.A.S., Shandong Moris Tech Co., Ltd., and American Elements.
Few Recent Developments
Inner Mongolia Lan Tai Industrial Co., Ltd
- In 2015, the company announced its plans for investment in capacity addition for sodium metal production by around 20,000 metric tons in order to better cater to the demand for sodium metal from both and international market
Market Taxonomy
By Application
- Chemical Synthesis
- Dyes
- Sodium Compounds
- Chemical Intermediates
- Metal manufacturing & refining
- Pharmaceuticals
- Others (Nuclear, Rubber, Batteries)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
