Sodium Metabisulphite Market: Global Industry Analysis and Opportunity Assessment 2016-2026
Valley Cottage, NY -- (SBWIRE) -- 11/30/2017 -- Sodium metabisulphite, popularly known as Disodium or Sodium pyrosulphite, is predominantly used as a food additive and reducing agent. The characteristic solubility in water and glycerine makes Sodium metabisulphite an ideal candidate for various industrial applications.
It is also a popularly used cleaning agent, preservative, and sanitising agent. In addition to serving numerous applications in chemical and pharmaceuticals, Sodium metabisulphite finds several applications in food and beverages industry, especially in processing of foods and beverages.
Driven by a wide range of industrial applications, the Sodium metabisulphite market is witnessing strong growth globally. According to FMI's research, the market is anticipated to thrive at a robust CAGR during the forecast period 2016-2026.
Key Drivers: Sodium Metabisulphite Market
As increasing number of consumers are turning to packaged food products, the demand for food additives and preservatives is also skyrocketing. Similarly, new drug formulations are gaining traction with the advent of research and technology in pharmaceutical industry, leading to higher demand for Sodium metabisulphite. Soaring consumption of Sodium metabisulphite by food industry and pharmaceuticals plays a key role in driving the global market of Sodium metabisulphite.
Wool and textile industries, which use huge amounts Sodium metabisulphite as a bleaching agent, are growing in number globally. This is another important factor fuelling the market growth. Furthermore, wine production units also consume a lot of Sodium metabisulphite. With the rising popularity of wine and growing innovation in development of new wine types, the market is expected to grow impressively in the near future.
Restraints to Market Growth
Consumers are observed to be more health conscious within the past few years, and a sizeable population worldwide is demanding natural, preservative-free foods. This scenario might lower the demand and consumption of Sodium metabisulphite by food and beverages industry, eventually affecting the market in a long term.
Sodium metabisulphite is easily replaceable with Sodium bisulphite, which possesses most of the properties of the former. This may affect the market growth during the forecast period.
Global Sodium Metabisulphite Market: Regional Outlook
Owing to the maximum consumption of packaged food products in the world, North America is currently the largest market for Sodium metabisulphite. Over the forecast period, N. America is anticipated to retain the top market position.
Asia Pacific however will create the fastest growing market for Sodium metabisulphite, driven by rapid expansion of packaged food, paper and pulp, textile, and pharmaceutical industries. China and India are projected to record the highest CAGR in the Asia Pacific market, through to 2026.
Research also indicates that Brazilian and African countries will also register significant growth, while Europe is estimated to witness steady growth over 2016-2026.
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Key Players: Global Sodium Metabisulphite Market
Some of the key participants in the global Sodium metabisulphite market include BASF SE, The Dow Chemical Company, Solvay, Aditya Birla Chemicals, Shandong Kailong Chemical Technology Development Co., Ltd., Ultramarines India (P) Ltd., and Qingdao Tianya Chemical Co., Ltd.