Sodium Sulphite Market will Reach US$ 180 Bn Towards 2030 end: Finds Fact.MR

DUBLIN 2, Ireland - Nov. 20, 2020 - PRLog -- The global sodium sulphite market is likely to witness a CAGR of 2% during 2020-2030. The COVID-19 pandemic has put a dent in the revenue pool of the market. However, several regions are involved in innovation for sodium sulphite to be used in numerous ways, such as in pharmaceuticals, oil refineries, etc., due to the growing demand from chemical industries for sodium sulphite as a reducing agent.

"The water treatment sector is poised to generate sustainable demand for sodium sulphite in the upcoming years," says a Fact.MR analyst.

Key Takeaways

• South Asia and East Asia will reflect lucrative growth prospects amid other regions by 2030 end.
• Sodium sulphite consumption will remain highly sought after in the pulp & paper sector, in contrast to food & beverages.
• Preservatives will grow at a modest pace compared to other application categories over the forecast period

Drivers

• Growing health awareness amid consumers and increasing demand for nutritious food and purified water is acting as a major growth attribute.
• Increased usage as a scrounger in medium pressure & high-pressure steam boilers to avert uncertain functioning is bolstering the market growth.
• The rising prevalence of the technical grade sodium sulphite in the water treatment sector is foreseeing a notable uptick, globally.

Read Report- https://www.factmr.com/report/1365/sodium-sulphite-market

Sodium Sulphite Market - Constraints

• Hazardous side-effects of sodium sulphite might slow down the growth of the market.
• Comprehensive industry-wide scrutiny by regulatory authorities is anticipated to negatively influence sodium sulfide demand over the forecast period.

Anticipated Market Impact by COVID-19 Outbreak

The COVID-19 pandemic is having a notable influence on the market in 2020. Force majeure of the manufacturing units of sodium sulphite all over regions is poised to impact the stance of the worldwide market.

Conversely, opening up of paper & pulp industries across regions, post ease up restriction, will boost demand back to the pre-crisis phase. The market growth is likely to be foreseen from mid-2021 onwards.

Sodium Sulphite Market - Competition Landscape

Key players identified in the global Sodium Sulphite market are Ineos Calabrian, BASF, Solvay Minerals Inc., Indspec Chemical, Rongda Chemical Corporation, Southern Ionics, Aditya Birla Chemicals, Olympic Chemicals, Hemani Group of industries, Jinchuan Group Limited, Guangdi Chemicals, Kayon Chemicals, Chemicals products Ltd, and Weifang Industry. The market landscape is fragmented in nature, however, players are offering products with extended product lines.

PR Source- https://www.factmr.com/media-release/1677/global-sodium-s...