How Big Is Technical Grade Segment in Sodium Bicarbonate Market?

Sodium Bicarbonate
Sodium Bicarbonate

A recent surge in demand for sodium bicarbonate is driven by the rising demand from several end-use industries, most importantly processed food, and pharmaceuticals. Also, requirements in flue gas desulfurization, leather, dyes, and detergents will contribute to growth, finds Future Market Insights (FMI) in a new study. According to the report, the market is forecasted to exhibit a 3.9% CAGR through 2031.

Globally, the sodium bicarbonate market is driven by demand from processed food and pharmaceutical production sectors. Food grade and technical grade offerings are expected to hold major market share owing to extensive scope of use in several the end use sectors. Together, these grades of sodium bicarbonate are estimated to account for more than two thirds of the volume share.

Sodium bicarbonate is a crystalline powder that has a color range from white to light brown. It is manufactured in different forms including liquid, powder, and slurry. There are different grades of sodium bicarbonate available for pharmaceutical, food, feed, and technical applications.

Some of the leading applications include food and beverages, pharmaceuticals, personal care products, chemicals, agrochemicals, fire extinguishers, dyes, and water treatment. Also, the non-toxic nature of the material has been a crucial factor for growth in the global market.

Key Takeaways from Sodium Bicarbonate Market Study

  • Driven by rising demand in food and beverage applications, the sodium bicarbonate is projected to surpass a valuation of US$ 2.3 Bn by 2031.
  • Pharmaceutical based sodium bicarbonate is expected to witness positive growth owing applications in API, excipients, and in hemodialysis solutions.
  • China is one of the fastest growing regional markets owing to the strong presence of end use industries and low raw material costs.
  • Powdered sodium bicarbonate is projected to hold a greater market owing to superior user convenience.
  • Germany’s contribution towards the European market will continue rising, trailed by France and the U.K.

End-use industries are focusing on the procurement of high-quality and cost-efficient sodium bicarbonate to improve product performance and profit margins, which will play key roles in market developments through the end of the assessment period in 2031” said a lead analyst at FMI.

Sodium Bicarbonate Market: Participant Insights

Market leaders in the moderately fragmented sodium bicarbonate market are largely focused on strategic expansions, providing high quality products, strengthening their product portfolios and developing stronger distribution partnerships.

Key manufacturers in the Sodium Bicarbonate market, include but are not limited to Solvay SA, Merck KGaA, Nirma ltd., Tata Chemicals Ltd., GHCL ltd, Ciech SA, DCW ltd., Seqens group, Tosoh Corporation, Hawkins, Inc., Vitro and Church & Dwight Co., Inc.

Want to Know More?

Future Market Insights has published a market research report on the Sodium Bicarbonate market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Sodium Bicarbonate market through five different segments- grade, form, application, and region.

Source: https://www.futuremarketinsights.com/press-release/sodium-bicarbonate-market

Be the first to comment

Leave a Reply

Your email address will not be published.


*