SELBYVILLE, Del., April 22, 2021 (Newswire.com) - According to the report published by Global Market Insights Inc., the global Sodium Sulphate Market size was estimated at $955 million in 2020 and is slated to surpass $1,335 million by 2027, registering a CAGR of 4.4% from 2021 to 2027. The report provides a comprehensive analysis of the market size & estimations, drivers & opportunities, major investment pockets, competitive scenario, wavering market trends, and top winning strategies.
The product is an inorganic compound that is solid and white in color in all forms. It has electrostatically bonded ionic sulphate and is highly water-soluble. It can be produced through a chemical process and is also produced naturally. In synthetic form, it is produced as by-product during the chemical process of various products including hydrochloric acid.
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The natural sodium sulphate segment should grow at a CAGR of over 4.0% owing to rising product demand for wood and paper production. Moreover, the synthetic product market should surpass USD 310 million in 2020 pertaining to the lack of natural resources globally for sodium sulphate production.
Soaps and detergents applications should surpass USD 620 million by 2027. The rising use of additives in detergents to prevent corrosion of equipment and pipes should drive the product demand. Increasing demand for soaps and detergents owing to rising consumer spending on cleanliness products should augment the sodium sulphate market share. Furthermore, growing government regulations of cleanliness in commercial institutions including hotels, hospitals and schools represent ample growth opportunities for the market in the forecasted timespan. On the other hand, glass applications are likely to surpass USD 240 million by 2027 owing to its product ability to remove air bubbles during glass production.
Bath additive applications should surpass USD 60 million by 2027 owing to rising consumer spending on cosmetics and personal care products. Rising sales number of liquid soaps and bath soaps to boost product consumption. COVID 19 outbreak has led to increased awareness among consumers about hygiene and cleanliness which is expected to foster the sodium sulphate market revenue for bath additive application.
Europe registers over 4.4% gains by 2027 owing to the emphasis on reducing single-use of plastic products and adoption of sustainable products. This has led to the adoption and production of glass from consumer goods industries which should augment the sodium sulphate market growth. Growing demand for glass for household and packaging use to boost glass production. Glass container production in European Union 28 has increased from around 21.7 million tons in 2018 to 22.5 million tons in 2019. This increase in the production of glass should stimulate market growth in the region.
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Leading market players:
Notable market players analyzed in the sodium sulphate 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 have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Source: Global Market Insights Inc.