Sodium Hydrosulfite Market Reporting Impressive Growth Fueled by Development in Textile Industry

The global sodium hydrosulfite market is enjoying an impressive growth in demand for sodium hydrosulfite since the last few years, thanks to the significant development in the textile industry. According to a research report recently published by Transparency Market Research, a market intelligence and research firm, the global sodium hydrosulfite market stood at US$1 bn in 2014. Rising at a CAGR of 3.80% during the period of 2015-2023, analysts expect the market to reach a value of US$1.4 bn by 2023.

Wood Pulp Bleaching: Leading Sodium Hydrosulfite Application Segment

Sodium hydrosulfite find wide application in wood pulp bleaching, mineral ore flotation, textile, food additives, pharmaceuticals, and other processes such as kaolin bleaching and cosmetics. Among these, the demand for sodium hydrosulfite from the wood pulp bleaching market is the highest, making it the leading application segment for sodium hydrosulfite. Together with the textile segment, the wood pulp bleaching market accounted for majority share of the overall sodium hydrosulfite application market in 2014.

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The global market is expected to witness immense growth owing to the increase in wood pulp bleaching and textile processing. The global rise in the demand for textile products, specifically apparel, is fueling demand from the worldwide sodium hydrosulfite market significantly.

On the other hand, the paper and pulp industry is going through a rough phase owing to the rapid digitalization in the global space, which is expected to adversely impact the current market share of wood pulp bleaching segment. However, the increasing demand for cosmetics and kaolin bleaching is anticipated to provide opportunities for further development of the global sodium hydrosulfite market in the coming years.

Asia Pacific Sodium Hydrosulfite Market to Develop at Around 4.0% CAGR

Among all the regional markets for sodium hydrosulfite, Asia Pacific has emerged as the biggest consumer as well as producer of sodium hydrosulfite. In 2014, the Asia Pacific sodium hydrosulfite market held more than 65% of the overall demand for sodium hydrosulfite in the global market.

Analysts also predict that the sodium hydrosulfite market in Asia Pacific will report the fastest growth rate in the near future, developing at a CAGR of over 4.0% during the period from 2015 to 2023. The Asia Pacific market is mainly driven by the high demand of sodium hydrosulfite from textile processing, whereas the markets in North America and Europe are led by wood pulp bleaching industries.

China Reports Highest Demand for Sodium Hydrosulfite

In the Asia Pacific region, China is reporting the highest demand for sodium hydrosulfite. Other Asian Countries such as India, Japan, Bangladesh, and Pakistan are also contributing considerably to the sodium hydrosulfite market in Asia Pacific.

The sodium hydrosulfite markets in North America and Europe is likely to lose share to the markets in Asia Pacific and the Rest of the World between 2015 and 2023 on account of the weakening of the paper economy in these regions.

Global Sodium Hydrosulfite Market: Top Four Participants Occupy Majority Share

The global market for sodium hydrosulfite is highly concentrated with top four participants, namely AZ Chemicals Inc., Guangdong ZhongCheng Chemicals Inc. Ltd., BASF SE, and Jinhe Group, occupying majority share of the overall market.

Other prominent players operating in the worldwide sodium hydrosulfite market are Royce International Corp., Montgomery Chemicals, Chemtrade Logistics Inc., TCP Ltd., Bruggemann Chemicals, and Mitsubisi Gas Chemical Co. Inc.

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