Sodium Hydrosulfite Market would expand at a CAGR of 3.80%
The demand within the global sodium hydrosulfite market is slated to reach unprecedented heights in the years to follow. There is tremendous demand for sodium hydrosulfite across the industrial sector. The chemical industry has witnessed starry developments over the past decade, and this is a key consideration from the perspective of market growth. Use of cleaning agents has become an indispensable feat across multiple industries, and the stellar growth rate of these industries shall aid market expansion. Polyester-dyeing is an important application of sodium hydrosulfite, and this has established common grounds for various market vendors. These vendors are capitalising on providing polyester-dyeing materials to the industrial sector.
Transparency Market Research (TMR), in its report, finds that the global sodium hydrosulfite market would expand at a CAGR of 3.80% over the period between 2015 and 2023. The total value of the sodium hydrosulfite market is projected to reach US$1.43 bn by 2023-end, rising up from a value of US$1.02 bn by 2014. Use of sodium hydrosulfite in the textile industry shall fetch key revenues for the global market. Furthermore, mineral floatation and wood pulp bleaching are amongst other important applications of sodium hydrosulfite.
Importance of Wastewater Treatment to Propel Market Demand
The use of sodium hydrosulfite in wastewater treatment has generated humongous revenues within the global market. Municipal authorities are making firm efforts to develop wastewater treatment facilities across key longitudes. The development of such facilities contributes towards the growth of the global sodium hydrosulfite market. The growing demand for potable water across industrial, commercial, and residential sectors shall bring in key revenues within the sodium hydrosulfite market.
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There is tremendous demand for sulfonating agents across industrial units, and this is a key consideration from the perspective of market growth. Use of improved procedures for cleaning and wastewater treatment is a become a top-notch priority for industrial units.
Growth of Oil and Gas Industry to Aid Market Growth
The oil and gas industry has emerged as an important consumer of sodium hydrosulfite. Purification of gases is an important application of sodium hydrosulfite, and the tremendous need for such purification processes in the oil and gas industry. Therefore, the revenue index of this market is set to improve in the years to follow. Purification of gases follows a long-drawn process, and industrial units invest voluminous revenues to this end. A large volume of these investments is expected to trickle down to the vendors operating in the global sodium hydrosulfite market. Furthermore, importance of stripping and cleaning technologies in key industries shall also fetch voluminous revenues for the market vendors.
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Some of the important vendors operating in the global sodium hydrosulfite market are BASF SE, Mitsubishi Gas Chemical Company, Inc., Chemtrade Logistics, Inc., Guangdong ZhongCheng Chemicals Inc., and BruggemannChemical.
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