Global Sodium Bicarbonate Market – Overview
Sodium Bicarbonate has been used commonly in the past few years in medical formulations as well as in general usage applications over the years. Market dedicated reports associated with the chemicals & materials industry among others of late have been made available by Market Research Future which issues reports on this industry. The market is expected to grow with a rising CAGR percent in the duration of the forecast period.
The popular use of Sodium Bicarbonates in antacids to treat stomach acidity has raised the demand for the market considerably. The use of Sodium Bicarbonate in carbonated beverages and artificial mineral water, bread baking, as a component of fire extinguishing agents, medicinal compounds and in others chemical raw materials. The main driver of demand for the market is expected to be the pharmaceutical due to increased consumer preference and applications.
The Sodium Bicarbonate Market is primarily segmented on the basis of end users, application, and region. On the basis of applications of Sodium Bicarbonate, the market comprises of segments such as soap & detergents, medical, baking powder, chemical raw material, animal feed, fire-extinguishing agent, agrochemical, and others. The end user segment of the market is segmented into personal care, pharmaceutical, food & beverages, textile industry, agriculture, chemical industry and others.
May 2018 USFDA has granted Zydus Cadila the final approval to market Nystatin Ointment USP at 100,000 units per gram. It is primarily used as an adjunct to address fungal skin infections and will be produced at the group’s topical manufacturing facility at Ahmedabad. The group of companies has also gained the approval to market Sodium Bicarbonate Capsules and Omeprazole. The capsules will be mass-produced at the group’s formulations manufacturing facility at Moraiya in Ahmedabad.
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Detailed Regional Analysis
While considering the regional analysis of the market for Sodium Bicarbonate, the Asia Pacific region is the main market in terms of both the production and consumption criteria. In the APAC region, China is the main producer of Sodium Bicarbonate thereby dominating the market segment. The rising demand for food & beverages, soaps & detergents, the chemical raw material in India, China, Indonesia, and Thailand have boosted the demand for the Sodium Bicarbonate Market. North America, US is second major market of production of the Sodium Bicarbonate Market followed by the Western European region. The APAC market is estimated to witness close competition from the US market due to Sodium Bicarbonate manufacturers offering low cost products and over dumping of Sodium Bicarbonate products in the Asia Pacific region. The European region is witnessing stagnant growth due to strict regulations for manufacturing Sodium Bicarbonate.
Global Competitive Analysis
The tone for development in the market has been altered to a great extent with the entry of new players and the changes in the mode of functioning of the established players. The room for development in the market seems to be promising through the forecast period. The mounting interest in change within the business has ultimately permitted the businesses to apply many situations accessible in the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The market has been led into a new period of growth as the market is normally in a state of mutability.t. The odds for growing revenue inflow in the business are likely to multiply through the forecast period. The businesses in this market are attempting to improve and uphold financial fluidity that can be vital to invest in progress as and when applicable. Localization is among of the more favored trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates.
Asahi Glass co. Ltd (Japan), Solvay S.A. Chemicals Company (Europe), Church & Dwight, Inc. (USA), FMC Corporation (US), Blue Bird Foods India Pvt. Ltd. (India), Tosoh Corporation (Japan) and others are among the noteworthy players in the market.
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