Sodium Sulfide Market to reach around US$ 672 Million by 2027- CMI

Sodium sulfide is an inorganic chemical compound with chemical formula Na2S. Sodium sulfide is produced industrially by carbothermic reduction of sodium sulfate process. It is widely used in the water treatment plant as an oxygen scavenger agent and also used as a metal precipitant. Also, it is used to protect the developer solutions from oxidation in the photographic industry. Moreover, it is used in Kraft process in the pulp and paper industry as it enhances the selectivity of the sulfate cooking process and improves the rate of delignification. Leather processing pulp & paper, chemical processing, water treatment, ore processing, and food preservatives are some of the major applications of sodium sulfide.

The global sodium sulfide market is estimated to account for slightly less than US$ 499.5 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 3.4% during the forecast period (2019-2027)

Drivers

Growing pulp and paper industry, especially in Asia Pacific region, is expected to augment the market growth of sodium sulfide. According to a report released by Indian Paper Manufacturers Association (IPMA) detailing the paper industry overview for 2017-2018, the per capita paper consumption in India is around 13-kgs, while the global average is 57-kgs. This is projected to increase to at least 17-kgs by 2024-25. India’s share in world production of paper is about 3.7%, with an estimated production of over 15-million tpa.

Market Opportunities

The rising number of water treatment plants due to the growing need for clean water around the globe is projected to propel the market growth. The physical and chemical water treatment process uses sodium sulfide to remove the heavy metals and contaminants present in the water by coagulation and flocculation process. Therefore, the rising need for clean water due to growing water pollution around the globe is expected to propel the market growth over the forecast period.

Market Restraints

Growing adoption of alternative of sodium sulfide as it is highly reactive compound is expected to restrict the market growth over the forecast period. Sodium sulfide release harmful gases such as hydrogen sulfide during the production. Hence, excessive or inappropriate use of this chemical may harm ecological and health-related hazards. In order to deal with this, end-user is opting for safer alternatives such as enzymes, especially in the leather processing industry. This factor is expected to hinder the market growth.

Key Takeaways

On the basis of application, the leather processing dominated the global sodium sulfide market in 2018 with a 31.4% of market share in terms of value, followed by ore processing and chemical processing.

Market Trends

Growing preferences for low Fe content sodium sulfide especially for the production of dyes are expected to be a major trend in the market and this trend is expected to be a major driving factor over the forecast period. Sulfide dyes are basically produced by using salts and Sodium sulfide by thionation or sulphurization process. These dyes are mainly used to dye cellulosic textile materials. Hence, the growing demand for sulfur sulfide from the dye and pigment industry is propelling the market growth.

Increasing application of sodium sulfate in the production of detergent is expected to fuel the market growth of sodium sulfide. Moreover, the rising demand for sodium sulfate from the glass industry where it is used to remove small air bubbles from molten glass is also expected to foster market growth. Furthermore, sodium sulfate is also used as an additive in cattle feed which is further estimated to augment the market growth of sodium sulfide.

Competitive Section:

Key players operating in global sodium sulfide market are Solvay s.a., Longfu Group, Nafine Chemical Industry Group Co., Ltd, Inner Mongolia Lichuan Chemical Co., Ltd, Xintai Wanhe Chemical Co.Ltd, China Nafine group international co ltd., Tessenderlo Group, Sichuan Shenhong Chemical Industry Co., Ltd., Shenzhou Jiaxin Chemical Co., Ltd, and Changsha Vahenry Chemical Co., Ltd.

Market Taxonomy

By Product Type