Sodium Metabisulfite Market Forecast to Reach $700 Million by 2025

Sodium Metabisulfite Market Forecast to Reach $700 Million by 2025

Sodium Metabisulfite Market
Surging Demand for Freshwater From Emerging Nations Like African Country Provide an Opportunity for the Growth of Sodium Metabisulfite Market.

Sodium Metabisulfite Market is forecast to reach $700 million by 2025, after growing at a CAGR of 6% during 2020-2025. Sodium metabisulfite is an inorganic white, granular sodium salt composed of sodium and disulfite ions. Sodium metabisulfite is used as preservatives in foods, thus global increase in demand for packaged food products is expected to boost the sodium metabisulfite market size. Whereas, surging use of sodium metabisulfite as disinfectant, and antioxidant in cosmetics and personal care products further fuel the market growth. However, laboratory tests have shown carcinogenic results on exposure to sodium metabisulfite, which hinder its market growth.

Sodium Metabisulfite Market Segment Analysis – By Grade

Based on the grade, industrial grade segment held the largest share of more than 30% in the sodium metabisulfite market in 2019. Sodium metabisulfite of industrial grades are used as bleaching or antichlor agent in paper industries as it reduces the natural element that causes paper to brown, from the wood pulp, and increase the brightness of paper. Owing to various environmental benefits, demand for paper and pulp is increasing which in turn augments the growth of the sodium metabisulfite market. According to environmental paper network (EPN), paper use is steadily increasing year on year and exceeded to 400 million tons per year in 2018. Also, according to International Trade Centre, the global import value of pulp grew by $8,994.5 million reaching approximately $64,677 million in 2018. Growing need for hygiene products such as paper cups, tissue papers, and packaging also accelerate the need for paper pulp thereby stimulating the sodium metabisulfite demand. Sodium metabisulfite is also used as an oxygen scavenging agent in steam boilers further aiding the growth of the market.

Sodium Metabisulfite Market Segment Analysis – By Application

Water Treatment segment holds the largest share of more than 25% in the sodium metabisulfite market in 2019. Sodium metabisulfite is commonly used for the removal of free chlorine and as a biostatic in water treatment plants. Sodium metabisulfite reduces free chlorine to form sodium bisulfate (NaHSO4) and hydrochloric acid (HCl). Efficacy and cost effectiveness compared to other water treatment chemicals such as ferric sulfate and sodium chloride are major factors driving the growth of the sodium metabisulfite market. In addition, surging demand for freshwater from emerging nations like African country provide an opportunity for the growth of sodium metabisulfite market. According to the Organisation for Economic Co-operation and Development, freshwater demand is projected to increase by 55% globally between 2000 and 2050, significantly aiding the market growth.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16254

Report Price: $ 4500 (Single User License)

Sodium Metabisulfite Market Segment Analysis – By End Use

Food & Beverage segment holds the largest share of more than 30% in the sodium metabisulfite market in 2019. A significant rise in per capita consumption of packaged food and beverages, is likely to have a major impact on the demand for sodium metabisulfite. As, sodium metabisulfite is used as a preservative in dried foods and canned juices. Moreover, sodium metabisulfite is also used in commercial wines to prevent oxidation and preserve flavor. Furthermore, according to the Association for Packaging and Processing Technologies (PMMI) 2018 Beverage Report, the North American beverage industry is expected to grow by 4.5% during 2018-2028. Ready-to-drink, non-alcoholic beverages are expected to grow at about 40 percent and wine (in plastic containers) is projected to increase 100 percent by 2028, subsequently boosting the demand for sodium metabisulfite. In additions, Sodium metabisulfite also serves as a conservation and anti-oxidation agent for the protection of shellfish against melanosis further drives the sodium metabisulfite market growth.

Sodium Metabisulfite Market Segment Analysis – By Geography

Asia Pacific has dominated the sodium metabisulfite market with a share of more than 40% in 2019 followed by North America and Europe. Population growth combined with rapid industrialization and high disposable income are driving the growth of sodium metabisulfite market in APAC region. Furthermore, increasing demand for apparel, growing fashion trends, and flourishing textile industries across the country is aiding the growth of the market. According to the Indian Brand Equity Foundation (IBEF), India’s textile and apparel exports accounted for US$ 38.70 billion in 2019 and is expected to increase to US$ 82.00 billion by 2021. In addition, according to the International Trade Center, global spending on export of articles with outer surface of leather, composition leather or patent leather increased by 7.7% accounting for approx. $5,298.2 million in 2019. Huge spending of youth on apparels and leather products further contributes to the sodium metabisulfite market growth.

Sodium Metabisulfite Market Drivers

Growing demand from mining industries and strict government regulation for wastewater treatment

Sodium metabisulfite, as a reducing agent, helps to remove cyanide and extract pure gold. It is widely used for cyanide detoxification in gold mining. Surging demand of gold for jewelry and orthodontic appliances fuel the demand for sodium metabisulfite. According to the United States Geological Survey, in 2017, domestic gold mine production was estimated to be about 245 tons, 10% more than that in 2016, and the value was estimated to be about $9.9 billion. Thus, the growth in mineral mining sector further propels the market growth. Besides, the stringent government regulations for the direct disposal of contaminated water also escalates the use of sodium metabisulfite in manufacturing industries. For instance, the United States Environmental Protection Agency (EPA) regulates the discharge and treatment of wastewater under the Clean Water Act (CWA). The National Pollutant Discharge Elimination System (NPDES) issues permits to all wastewater dischargers and treatment facilities. Thus, growing mining activities and water treatment norms boosts the growth of the sodium metabisulfite market.

Increasing usage of sodium metabisulfite in medical sector

Sodium metabisulfite is used as an antioxidant in many pharmaceutical formulations such as Acetaminophen 500 mg, Dilaudid, Hydromorphone Hydrochloride, and local anesthesia. Accelerating use of sodium metabisulfite as an excipient to medications which contain adrenaline (epinephrine), in order to prevent the oxidation of adrenaline further augments the growth of the market. Moreover, technology advancements and government’s spending on healthcare is expected to drive the growth of sodium metabisulfite market during forecast period. For instance, in 2019, Australian Government announced a $5 billion, 10-year investment plan for the Medical Research Future Fund (MRFF) as a part of its 2019–20 budgets to support Australian health and medical research. Algeria’s total national operating budget allocated to health reached 7.3% in 2018. Also, the U.S. health care spending grew by 4.6 percent in 2018, reaching $3.6 trillion.

Sodium Metabisulfite Market Challenges

Harmful effects of sodium metabisulfite on human health and availability of other alternatives

Sodium metabisulfite is noncombustible, but may decompose to emit toxic oxide fumes of sulfur and sodium when heated to high temperature. Exposure to sodium metabisulfite can cause irritation to the skin, eyes, and respiratory tract. Breathing sodium metabisulfite dusts may cause headaches, breathing difficulties, and heart irregularity. Thus, the harmful effects of sodium metabisulfite acts as a restraining factor to the market growth. Whereas, the adoption of U.V technologies and RO water filtration whose purification efficiency is higher than sodium metabisulfite hampers the growth of the market. Thus, an alternative dichlorination treatment system to replace sodium metabisulfite (SMBS), reduce the usage of chlorination, and achieve a chemical-free dichlorination process acts as a restraint for the market growth.

Emergence of COVID-19

The Covid-19 proved to be a major challenge to the growth of the sodium metabisulfite market. Many industries are shuttered due to lack of manpower. The apparel industry body Clothing Manufacturers Association of India (CMAI) has estimated that if no assistance comes from government either in terms of wage subsidy or revival packages there could be loss of almost 1 crore jobs in the entire textile chain. Decrease in purchasing capital has slowed the growth of textile, paper & pulp, and mining industries which in turn hampered the demand for sodium metabisulfite.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the sodium metabisulfite market report. In 2019, the market of sodium metabisulfite has been consolidated by the top five players accounting for xx% of the share. Major players in the sodium metabisulfite market are BASF SE, Aditya Birla Chemicals, Esseco USA LLC, Seidler Chemical Co., Shandong Kailong Chemical Technology Development Co. Ltd., Tangshan Sanjiang Chemical Co. Ltd., Grillo-Werke AG, Solvay S.A., Hydrite Chemical Co., Surpass Chemical Company, Inc., Weifang Taida United Chemical Co. Ltd., INEOS Calabrian Corp., Santa Cruz Biotechnology, among others

Key Takeaways

The increase in research and development in new drug formulation has triggered the market demand of sodium metabisulfite in the pharmaceutical industry.

Decline in manufacturing activities and disruption of supply chain due to the outbreak of coronavirus has hampered the growth of the sodium metabisulfite market.

Increasing adoption of UV technologies and RO filtration lower the demand of sodium metabisulfite from wastewater and sewage treatment plants.

Related Reports :

A. Sodium Acetate Market

https://www.industryarc.com/Report/17731/sodium-acetate-market.html

B. Sodium Carbonate Market

https://www.industryarc.com/Report/16251/sodium-carbonate-market.html

For more Chemicals and Materials Market reports, Please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: 1-614-588-8538 (Ext: 101)
Address:Madhapur
City: Hyderabad
Country: India
Website: http://industryarc.com/