Pune, India -- (SBWIRE) -- 08/09/2018 -- Sodium Dichromate Market – Market Overview
Sodium Dichromate acts as a medium for producing other chromium compounds such as chromic anhydride, potassium dichromate, and aluminium dichromate among others. The product finds application in pigments, metal finishing, wood preservative, and leather tanning. Pigments accounted for the largest market share in the sodium dichromate owing to increasing demand from end use industries such as textile, paints & coatings, construction, and packaging. The product use is increasing in textile, transportation, and construction industries owing to colour fastening, corrosion resistance, and improved wood life respectively.
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Growing apparels and textile industry with changing fashion trends and increasing disposable income of the consumers is driving the market growth globally. Rapidly expanding textile industry in the developing economies such as India and China is propelling the market growth in the Asia Pacific region. The product consumption is increasing in packaging industry with surging demand for packaged food and beverages as a result of improved shelf life of the products. Additionally, sodium dichromate demand is driven by the increasing number of working women due to convenience and eco-friendliness. Furthermore, growing transportation industry is propelling the market growth across the regions owing to corrosion resistance. Flourishing construction industry with rising investment on residential and non-residential construction activities is uplifting the market growth further.
Additionally, chromium users in the U.S. are required to list themselves with the US Environmental Protection Agency and follow the National Emission Standards set for hazardous air pollutants due to its negative impact on the human health.
However, Sodium Dichromate is strongly irritating to skin & eyes, and is also classified as human carcinogen which may develop lung cancer. This factor may hamper the market growth during the review period.
Sodium Dichromate Market – Competitive Analysis
Sodium Dichromate is at the growth stage and is expanding rapidly across the globe especially in the Asia pacific region owing to rapid globalisation and industrialization. Some of the growing trends noticed among the market players are acquisition and approval for the product use in different applications by the regulatory authorities. For instance, the European Commission granted 3 authorisations and approved the use of sodium dichromate as a corrosion inhibitor in ammonia absorption deep cooling systems.
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Industry/ Innovation/ Related News:
April, 2018–.The European Commission granted 3 authorisations and approved the use of sodium dichromate as a corrosion inhibitor in ammonia absorption deep cooling systems.
March, 2018–.The Forum for Exchange of Information on Enforcement launched third pilot project on authorisation of chromium compound VI compounds.
August, 2015–.Vishnu Chemicals, a manufacturer of sodium chromium and barium chemical compounds, acquired the Hyderabad –based Solvay Vishnu Barium Private Limited, a joint venture between Belgium's Solvay and Vishnu Chemicals.