SELBYVILLE, Del.,, April 22, 2021 / PRNewswire / – According to a report published by Global Market Insights Inc., the global sodium sulfate market is estimated at $ 955 million in 2020 and is projected to surpass $ 1,335 million by 2027, registering a 4.4% CAGR from 2021 to 2027. The report provides a comprehensive analysis of market size and estimates, drivers and opportunities, major investment pockets, competitive scenario, volatile market trends and best-profit strategies.
Global Market Insights Inc.
The product is an inorganic compound that is solid and white in all forms. It has electrostatically bound ionic sulfate and is very soluble in water. It can be produced by a chemical process, and it is also produced naturally. In synthetic form, it is produced as a by-product during the chemical process of various products, including hydrochloric acid.
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The natural sodium sulfate segment is expected to grow at a CAGR of over 4.0% due to growing demand for wood and paper products. Moreover, the synthetic products market should outperform $ 310 million in 2020, which refers to the global shortage of natural resources for the production of sodium sulfate.
Soap and detergent applications should be outweighed $ 620 million by 2027. The increasing use of additives in detergents to prevent corrosion of equipment and pipes should drive demand for products. Increased demand for soaps and detergents due to growing consumer spending on cleaning products should increase the market share of sodium sulfate. Furthermore, growing state regulations on cleanliness in commercial institutions, including hotels, hospitals, and schools, present ample opportunities for market growth over the projected time frame. On the other hand, glass applications are likely to outperform $ 240 million by 2027 thanks to its ability of the product to remove air bubbles during glass production.
Applications of bath additives should outweigh $ 60 million by 2027 due to an increase in consumer spending on cosmetics and personal care products. Increasing the number of selling liquid soaps and bath soaps to increase product consumption. The outbreak of COVID 19 has led to increased consumer awareness of hygiene and cleanliness, which is expected to boost sodium sulfate market revenue for the application of bathroom additives.
Europe records over 4.4% profit by 2027 thanks to the emphasis on reducing the one-time use of plastic products and the adoption of sustainable products. This has led to the adoption and production of glass from the consumer goods industry, which should increase the growth of the sodium sulphate market. Growing demand for household and packaging glass is increasing glass production. The production of glass packaging in the European Union 28 increased from about 21.7 million tons in 2018 to 22.5 million tons in 2019. This increase in glass production should stimulate market growth in the region.
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Leading market players:
Significant market players analyzed in the sodium sulfate industry report 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. They included several strategies, including partnership, expansion, collaboration, joint ventures, and others to improve their position in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, USA, is a provider of global market research and consulting services. Offering syndicated and customized research reports, growth consulting services and business intelligence services, Global Market Insights, Inc. aims to help clients with insightful insights and active market data that help make strategic decisions.
GMIPulse, our business analytics platform, offers an online, interactive option to explore our proprietary industrial data in an easy-to-use and dynamic way. Clients explore market intelligence through 11 top-level categories and hundreds of industry segments within them, covering statistics at the regional level, company level, and cross-sections that highlight our offering for decision makers.
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Sodium sulphate market outlook – 2027
SOURCE Global Market Insights Inc.
