According to the new market research report “Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Sodium Sulfate market size is projected to reach USD 1.47 billion by 2030, at a CAGR of 0.8% during the forecast period.
- Global Sodium Sulfate Market Size (US$ Million), 2019-2030
Source: QYResearch, "Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Sodium Sulfate Top 17Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Sodium Sulfate include Peñoles, Sichuan Union Xinli Chemical, Shanxi Coking Coal Energy Group, Huaian Salt Chemical, Hongya Qingyijiang Sodium Sulphate, Grupo Industrial Crimidesa, Minera de Santa Marta, Jiangsu Yinzhu Chemical, JSC Kuchuksulphate, Lenzing Group, etc. In 2023, the global top 10 players had a share approximately 59.0% in terms of revenue.
- Sodium Sulfate, Global Market Size, Split by Product Segment
Source: QYResearch, "Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product type, currently Natural Product Sodium Sulfate is the largest segment, hold a share of 80.2%.
- Sodium Sulfate, Global Market Size, Split by Application Segment
Source: QYResearch, "Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product application, currently Detergent and Cleaning Agent Industry is the largest segment, hold a share of 34.9%.
- Sodium Sulfate, Global Market Size, Split by Region
Source: QYResearch, "Sodium Sulfate- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
Market Drivers:
In recent years, as some companies have withdrawn from the sodium sulfate industry, market concentration is expected to continue to increase. There are many mid- to low-end market participants in this industry, the industry is fragmented, product homogeneity is serious, and there is serious disorderly competition. Profit margins are constantly being squeezed, which has lowered the gross profit margin of the entire industry. In the future with higher market concentration, corporate profits are expected to improve. Industry integration is accelerating, promoting the overall competitiveness of the global sodium sulfate industry. As environmental protection regulations in various countries become increasingly strict, most small and medium-sized sodium sulfate production companies with high energy consumption, heavy pollution, and low productivity will be eliminated
Restraint:
The IMF predicts that the world economy will continue to grow at a rate of 3.2% in 2024 and 2025, the same growth rate as in 2023. Economic growth in advanced economies will accelerate slightly, from 1.6% in 2023 to 1.7% in 2024 and 1.8% in 2025, but will be offset by a slight slowdown in growth in emerging market and developing economies. Offsetting this, the latter’s growth is expected to fall from 4.3% in 2023 to 4.2% in 2024 and 2025. The forecast for global economic growth five years from now is 3.1%, the lowest level in decades. In addition, the global political landscape continues to be turbulent, and the Russia-Ukraine conflict has profoundly affected the future geopolitical landscape of the world. There is a profound geopolitical background and historical origin behind the Russia-Ukraine conflict. It is the result of the combined effect of multiple factors such as history and culture, ethnic conflicts, geopolitics, and the game of great powers. The situation in the Middle East continues to deteriorate, and the global political landscape is increasingly fragmented.
Opportunity:
The global market demand for anhydrous sodium sulfate industry has been stable. Anhydrous sodium sulfate is a basic chemical raw material with a wide range of applications. Therefore, dependence on related industries will only occur when the overall economy experiences large fluctuations. Appear. With the slow recovery of the global economy, the economy will enter a period of good development, and the demand for anhydrous sodium sulfate will further expand.
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