By application, the leather processing segment is anticipated to show substantial growth in terms of both value as well as volume for the entire forecast period between 2016 and 2024.
New York City, NY -- (SBWIRE) -- 04/20/2017 -- In its report titled, "Sodium Sulfide Market: Global Industry Analysis and Forecast, 2016 - 2024", Persistence Market Research (PMR) estimates that the global consumption of sodium sulfide is projected to grow at a sluggish CAGR of 2.9% to reach 1,157 KT by 2024. Asia Pacific (APAC) will remain the largest market; however, demand will remain stifled on account of growing concerns about environmental damage. While leather processing will account for the bulk of demand, regular grade sodium sulfide will completely outsell high-purity variant.
Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/4357
Application Sodium Sulfide for Ferrous & Non-Ferrous Metal Production to Propel its Market Growth
Sodium sulfide is widely utilized in dehairing process for leather production owing to its relatively higher effectiveness, efficiency and efficaciousness than other alternatives. The market is expected to grow on account of sodium sulfide applications in ore processing. Sodium sulfide manufacturers are likely to witness steady demand from ferrous and non-ferrous production companies, especially those in the ore floatation process.
However, in spite of steady demand from end-use industries, market growth will remain sluggish over the forecast period owing to the hazardous effects of sodium sulfide. The broader industry-wide scrutiny by regulatory authorities will negatively impact demand for sodium sulfide, with cleaner, less harmful chemicals gaining traction.
Key Findings in the Report Include
- Regular grade sodium sulfide will continue to remain sought-after among manufacturers. This product type segment accounted for 95% revenue share of the market in 2016. The status-quo is projected to remain unchanged during the forecast period.
- Leather processing remains the largest end-user of sodium sulfide. This segment will grow at a higher CAGR than the overall market, reaching () Mn by 2024. Demand will also remain steady in the pulp and paper industry.
Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/sodium-sulfide-market/toc
In addition to Asia Pacific, Latin America and Europe will remain the other leading markets for sodium sulfide. Manufacturers in these markets will continue to use sodium sulfide for leather production. Latin America and Middle East & Africa (MEA) are expected to reflect 3.1% and 2.4% CAGRs respectively in term of volume during the forecast period.
To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/4357
Key players partaking in the global sodium sulfide market include Solvay SA, Inner Mongolia Lichuan Chemical Co. Ltd., Changsha Vahenry Chemical Co. Ltd., Tessenderlo Group, Xintai Wanhe Chemical Co. Ltd., and China Nafine Group International Co. Ltd. These players are focusing on development of application specific tailored solutions and product innovations.
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.