Rising usage of soaps and detergents and rise in demand for usage in solar energy storage devices is driving the growth of the global sodium sulfate market.
PORTLAND, OREGON, USA, July 27, 2022 /EINPresswire.com/ — Allied Market Research recently released a report titled “Sodium Sulphate Market by Product (Natural and Synthetic), Form (Salt cake, Glauber’s Salt, and Niter Cake ) and Application (Soaps & Detergents, Textile, Glass, Pulp and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030”. According to the report, the global Sodium Sulfate Industry was estimated at USD 1.0 Billion in 2020 and is projected to reach USD 1.6 Billion by 2030, growing at a 2021 CAGR of 4.6%. to 2030.
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Drivers, constraints and opportunities
Rising usage of soaps and detergents and rise in demand for usage in solar energy storage devices is driving the growth of the global sodium sulfate market. However, easily available substitutes and limited new uses of the product are hampering the market growth. On the contrary, untapped potential and the emergence of new markets would open up new opportunities in the future.
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The Covid-19 outbreak and economic uncertainty have hampered demand for sodium sulfate. The temporary ban on international imports and exports, restrictions on manufacturing, tourism, hospitality and financial sectors have had a negative impact on the market.
Lockdown restrictions have hampered manufacturing activities, disrupted the supply chain and increased raw material prices. On the contrary, the demand for soaps and detergents has increased since the epidemic, which has created a huge gap between supply and demand.
The natural segment dominated the market
By product, the natural segment held the largest share in 2020, accounting for nearly two-thirds of the global sodium sulfate market. Moreover, the segment is expected to register the highest CAGR of 4.7% during the forecast period, owing to the increase in the production of pulp and paper industries. The report also includes synthetic segment analysis.
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Soaps & Detergents Segment to Show Highest CAGR through 2030
By applications, the soaps and detergents segment would exhibit the highest CAGR of 4.9% from 2021 to 2030. Additionally, the segment held the largest share in 2020, contributing more than two-fifths of the global sodium sulfate market. sodium, due to its properties of sodium sulfate which allow the detergent powder to flow freely. The report includes analysis of segments such as textile, glass, pulp and paper and others.
Asia-Pacific, followed by North America, held the largest share
By region, the global sodium sulfate market in Asia-Pacific, followed by North America, held the lion’s share in 2020, accounting for nearly three-fifths of the market. Additionally, the region would exhibit the highest CAGR of 4.8% from 2021 to 2030, owing to the high consumption of the product in China for a variety of applications including textiles and soaps & detergents.
Main market players
Sigma-Aldrich Co. LLC.
Godavari Biorefineries Ltd.
ECOBAT Technologies Ltd.
Borden & Remington Corp.
The Aditya Birla Group
Nippon Chemical Industrial Co.
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