The global sodium hydrosulfide market size is likely to witness significant growth for the market owing to rising awareness for consumption of clean water. According to the US Centers for Disease Control and Prevention, it is anticipated that about 2.5 billion people lack proper access to safe drinking water. Fortune Business Insights, in its latest report, titled “Sodium Hydrosulfide Market Size, Share & Industry Analysis, By Form (Liquid, Flakes), By Application (Paper & Pulp, Mining, Tanneries, Chemical Processing, Others) Others and Regional Forecast, 2019-2026.”, predicts steady growth for the market during the forecast period.
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Sodium hydrosulfide with its chemical symbol being NaHS is widely used in several industries such as leather, pulp and paper, mineral extraction, dye, chemical, among others. NaHS in its solution form is found to be either colorless or in light-yellow liquid and is extensively used in a pure solid state or at times as a solution in treating water impurities. Additionally, it is a useful reagent beneficial for synthesis of organic as well as inorganic sulfur compounds. However, long exposure to NaHS can have a drastic effect on humans with the symptoms ranging from nausea, headache, dizziness, vomiting, passing out, and others.
What does the Market Report Offer?
The market report offers detailed information on the growth parameters such as the drivers, challenges, opportunities, and restraints that the market will go through during the forecast period. Furthermore, it provides qualitative and quantitative details about the regional demographics present in the market. Moreover, the competitive landscape includes in-depth information of the companies proliferating in the market and the strategies such as mergers and acquisitions, product launches, and collaborations adopted by them to gain market presence.
List of the Companies Proliferating in the Market:
- Solvay S.A.
- Genesis Energy
- Henan Tianshui Chemical Co.
- Tessenderlo Group
- Chemical Products Corporation
- Merck & Millipore
- Cayman Chemicals
- Nilkanth Organics
- Prasol Chemical Pvt. Ltd.
- Ganga Chemicals
- Central Drug House
- Among others
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Drivers and Restraints:
Increasing Demand for Clean Source of Water to Fuel Demand
According to a report from United Nations Educational, Scientific and Cultural Organization (UNESCO), globally one in every nine people drink water from contaminated sources deemed unfit for consumption. Moreover, 90% of sewage generated from developing economies is directly discharged without being treated into the water bodies. Sodium hydrosulfide is among the compounds used extensively in treating water impurities. Thereby, increasing awareness for consumption of clean water globally is expected to drive the growth of the market during the forecast period. Moreover, increasing demand for NaHS from the pulp and paper industry will bode well for the growth of the market in the forthcoming years.
Presence of Leather Manufacturers to Propel Demand in Asia-Pacific
As per the demographics, the market is present in several regions across the globe. The regions are as follows:
Asia-Pacific: The region is expected to register healthy growth for the market during the forecast period. This is ascribable to factors such as presence of large leather manufacturers in countries such as India and China. Prominent leather manufacturers such as Bata India Ltd., Lakhani Armaan Group, Metro Shoes Ltd., and many others in Asia-Pacific will contribute to the growth of the market during the forecast period.
North America: The market in this region will exhibit promising growth owing to strict government regulations for treatment of wastewater dispersed from manufacturing units. For instance, according to United States Environmental Protection Agency (EPA), effluent guidelines have been placed for treating industrial waste under the Clean Water Act.
Europe: On the other hand, the market in this region will witness substantial growth backed by rising demand from mining industry between 2019 and 2026.
Expansion Activities by Companies to Strengthen Demand
According to the report, the market comprises of several companies trying to establish its footprint and gain maximum market share during the forecast period. Adoption of strategies such as expansion of product offering to cater the growing consumer demands, and merger and acquisition to maintain market stronghold and register high sodium hydrosulfide market revenue will bode well for the growth of the market in the forthcoming years.
- November 2017: AkzoNobel, a leading global manufacturer, announced its plan for expanding its sodium hydrosulfide facility at LeMoyne. According to the company, it is expected to invest about USD 10 million to expand the production of NaHS at its facility to meet the increasing demands of its customer base.
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