Sodium Sulfide Market Size & Share, by Type (Low Ferric Sodium Sulfide, Crystal Sodium Sulfide, Anhydrous Sodium Sulfide); Application - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6219
  • Published Date: Jun 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Sodium Sulfide Market size was valued at USD 12.6 Billion in 2023 and is predicted to reach USD 23.8 Billion by the end of 2036, expanding at around 9.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sodium sulfide is evaluated at USD 13.2 Billion.

The sodium sulfide market growth is attributed to the growing population, which has increased the demand for leather products. The use of sodium sulfide in the manufacturing of leather products is huge because it acts as a dehairing agent. According to Research Nester analysis, the global leather industry produces over 23 billion square feet of leather annually.


Sodium Sulfide Market overview
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Sodium Sulfide Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing use of sodium sulfide in various industries - The use of sodium sulfide is growing in various industries, such as textiles, mining, and pulp & paper, among others. Moreover, mining activities are increasing due to the rising demand for construction and electricity generation. The high use of sodium sulfide in ore process flotation to assemble iron in the mining industry boosts the sodium sulfide market. According to a published report, the revenue of the top 40 global mining companies amounted to USD 943 billion worldwide in 2022.

    Furthermore, sodium sulfide works as a reducing agent in the dyeing of textiles, which increases its adoption in the textile industry and has many uses that expand its market size.
  • Increasing demand for eco-friendly products - Due to rising environmental concerns, there is an increase in demand for eco-friendly and sustainable products. According to researchers at Research Nester, over the past five years, there has been a 71% rise in online searches for sustainable goods globally.  Sodium sulfide is considered less harmful and hazardous as compared to other chemicals which increase its adoption in various sectors.

    Additionally, the chemical industry is becoming more environment-oriented by encouraging the use of less hazardous chemicals for the production of goods and adopting sustainability practices. Furthermore, increasing awareness of sustainability and eco-friendliness among manufacturers boosts the .
  • Technological advancements in the production of sodium sulfide - The ongoing research and development activities and technological advancements in the production process of sodium sulfide to improve its quality are crucial steps in market growth. Moreover, the use of various advanced techniques in the manufacturing of sodium sulfide to remove all impurities increases its adoption.

    The growing need in industries for high-quality sodium sulfide is addressed by technological advancements and the use of innovative techniques. Additionally, the higher use of technology in the production process of sodium sulfide reduces the cost and time of manufacturing units and meets the rising need for sodium sulfide.

Challenges

  • Harmful effect on health - There are many health concerns associated with sodium sulfide as it causes eye and skin irritation, and respiratory diseases and is toxic to humans. Moreover, various health problems occur with the use and production of sodium sulfide which may limit its adoption in industries and hinder sodium sulfide market growth.
  • Rising competition among key players - The growing number of alternative manufacturers and key players in the production of sodium sulfide poses a challenge to market growth. Furthermore, rising competition in the production of sodium sulfide causes price fluctuations and reduces profit margins.

Sodium Sulfide Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

9.5%

Base Year Market Size (2023)

USD 12.6 Billion

Forecast Year Market Size (2036)

USD 23.8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Sodium Sulfide Segmentation

By Type (Low Ferric Sodium Sulfide, Crystal Sodium Sulfide, Anhydrous Sodium Sulfide)

Low ferric sodium sulfide segment is estimated to account for more than 57% sodium sulfide market share by the end of 2036. The segment growth can be attributed to the growing use of low ferric sodium sulfide in textile and paper manufacturing due to its high solubility.

Moreover, the increasing demand for iron and metals due to rapid urbanization has increased the use of low-ferric sodium sulfide in the mineral industry, which boosts segment growth. Additionally, low-sodium sulfide is considered a safe chemical as compared to others, which leads to its huge adoption.

By Application (Textile, Paper & Pulp, Water Treatment, Tanneries)

By the end of 2036, paper & pulp segment is poised to dominate around 54% sodium sulfide market share. The rising middle-class income and boom in the fashion industry are responsible for an increasing demand for textile manufacturing. As per Research Nester estimates, in 2020, the global middle class spent USD 42 trillion, or 63.2% of the world’s consumer spending.

Moreover, with the rising demand for textile manufacturing, the need for sodium sulfide in the textile industry is also increasing as it provides finishing to fabrics. In addition, the growing demand for sodium sulfide in the textile industry boosts the segment growth.

Our in-depth analysis of the global market includes the following segments:

          Type

  • Low Ferric Sodium Sulfide
  • Crystal Sodium Sulfide
  • Anhydrous Sodium Sulfide

          Application

  • Textile
  • Paper & Pulp
  • Water Treatment
  • Tanneries

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Sodium Sulfide Industry - Regional Synopsis

Asia Pacific Market Statistics

Asia Pacific in sodium sulfide market is expected to hold more than 44% revenue share by 2036. The market growth in the region is expected on account of economic growth, rapid urbanization, and industrialization.

The growing population and rising disposable income in India have increased the demand for products like footwear, bags, and other industrial goods. This leads to an increase in the adoption of sodium sulfide in various industries including leather, mining, and textile, and stimulates its sodium sulfide market growth. According to a report published by the Ministry of Statistics and Program Implementation (MOSPI), the total population in India was estimated at 1373.8 million people in 2022.

In China, strict environmental regulations and environmental conservation practices stimulate the demand for eco-friendly products. Moreover, the rising demand for eco-friendly products encourages the use of sodium sulfide in the manufacturing and chemical industries. As per a report published on Consumer Awareness and Behavior Change in Sustainable Consumption by China Sustainable Consumption Research Program, about 70% of Chinese consumers are aware of sustainability with more than 70% willing to pay higher prices for sustainable products.

North America Market Analysis

The North American region will also encounter huge growth in the sodium sulfide market during the forecast period and will hold the second position owing to the well-established industrial infrastructure and technological advancements.

In the US, the growing demand for ferrous and non-ferrous metals such as iron, copper, and steel has increased ore processing. There is an increasing use of sodium sulfide in ore processing in the mineral industry, which expands the sodium sulfide market. According to a report published by the United States Geological Survey (USGS), USD 105 billion worth of nonfuel mineral commodities were produced by US mines in 2023, including industrial minerals and natural aggregates.

The growing need for sodium sulfide in the water treatment industry in Canada is boosting market growth. Due to rising concerns about water contamination, the need for effective water treatment is increasing. Moreover, sodium sulfide is a crucial chemical that is used in water treatment processes, increasing its adoption in the water treatment industry. According to a report published by the Government of Canada, in 2021, releases from wastewater treatment facilities accounted for 57%, 53%, and 47% of total releases of mercury, lead, and calcium, respectively.

Research Nester
Sodium Sulfide Market size
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Companies Dominating the Sodium Sulfide Landscape

    The sodium sulfide market consists of several significant key players and chemical manufacturing companies that cater to the needs of various industries. Some of the key players in the market include:

    • PPG Industries
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Emco Dyestuff Pvt. Ltd.
    • American Elements
    • Innova Priority Solutions
    • Chemical Products Corporation
    • ProChem, Inc.
    • Longfu Group
    • BASF SE
    • AkzoNobel
    • Nilkanth Organics

In the News

  • BASF SE - BASF SE announced that it will expand its biomass balance portfolio to include BDO, THF, PolyTHF, and DMAPA. Moreover, the BASF will offer its customers ISCC PLUS and REDcert-certified products which will help in reducing the product’s carbon footprint. These new certifications emphasize the company’s commitment to sustainability. 
  • PPG Industries - PPG launched the PPG NEXON 810 coating. It is a copper-free antifouling that helps in reducing emissions and provides sustainability. Furthermore, PPG NEXON 810 coating helps in lowering greenhouse gas emissions by up to 25% as compared to its traditional coatings. This coating provides environmental protection with improved vessel performance.

Author Credits:  Rajrani Baghel


  • Report ID: 6219
  • Published Date: Jun 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of sodium sulfide was over USD 12.6 billion.

The market size for sodium sulfide is projected to cross USD 23.8 billion by the end of 2036 expanding at a CAGR of 9.5% during the forecast period i.e., between 2024-2036.

The major players in the market are PPG Industries, Emco Dyestuff Pvt. Ltd., American Elements, Innova Priority Solutions, Chemical Products Corporation, ProChem, Inc., Longfu Group, BASF SE, AkzoNobel, Nilkanth Organics, and others.

The low ferric sodium sulfide segment is anticipated to garner a share of 57% during 2024-2036.

In the year 2023, the industry size of sodium sulfide was over USD 12.6 billion.
Sodium Sulfide Market Report Scope
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