Asia Pacific Sodium Sulfide Market value was over USD 180 million in 2019 and industry expects to witness significant gains at over 7% by 2026.
Sodium sulfide is colorless, water-soluble salt capable of providing strong alkaline solutions. These chemical compounds act as a suitable reducing agent and have high thermal energy storage density owing to large absorption capacity and high heat of sorption. It has a wide range of applications across pulp & paper, water treatment, tanneries, chemical processing, textile industry, and ore processing industries. Steady growth in leather and paper production in the Asia Pacific countries, particularly in China, Australia, South Korea, and India will fuel the market size.
Rising establishment of manufacturing units in the region by major players owing to supportive business and working environment provided by governments offering tax incentives & rebates should boost industry growth. Favorable government initiatives including “Made in China 2025”, “Make in India”, and connected industries initiative by the Japanese government is likely to promote FDI inflows and necessitate production capacity expansions, thus propelling sodium sulfide industry growth. Also, rapid urbanization, industrialization, and surge in water treatment activities will stimulate regional demand.
Low ferric segment dominated the APAC market share in 2019. Increasing usage of low ferric compounds as a dechlorinating agent in tanneries, sulfonation agents in chemical manufacturing, as oxygen scavenging agent in water treatment will foster the segment growth. It finds widescale usage in several sectors including leather, high-grade paper, PPS plastic, medicine, dyeing, mining, etc. Besides, it offers advantages such as high solubility in water & alcohol and provides tendency to absorb moisture for forming aqueous solutions.
Technological advancements and innovations by manufacturers have enhanced usage of technical grade sodium sulfide in manufacturing, laboratory, and industrial applications. It plays a vital role in dye, oil recovery, ore flotation, and detergent manufacture. It also has extensive applications for removal of heavy metal in wastewater plants, sulfur removal in viscose rayon, as reducing agents in pharmaceutical industry, and dechlorinating agents in tanneries.
Asia Pacific market from pulp & paper application was valued over USD 18 million in 2019. Increasing demand for tissue papers, packaging, and hygiene products has enhanced the requirement for paper pulp in the Asia Pacific countries. It is primarily used in the kraft pulping process in the pulp & paper industry for removal of lignin’s. The addition of sodium sulfide in kraft pulping process promotes the ether cleavage and prevents undesirable condensation reactions. Strong growth in the printing and packaging sectors will boost the product adoption rate. For instance, the paper and paperboard production in the Asia-Pacific region was around 196 million tons accounting for 48 percent share, which indicates ample growth opportunities.
China sodium sulfide market revenue was over USD 120 million in 2019. Presence of major manufacturers along with a large end-user market provides ample opportunities for market growth. Moreover, availability of inland salt lakes, low-cost labor, and technology providers in the country will spur the demand in the country. In March 2014, The Japanese company, JGC Corporation signed a license agreement with Zhejiang Engineering Design, to serve as a proxy for licensing the proprietary sodium sulfide production process technology to Chinese clients. Thus, these aforementioned factors should promote product demand.
Asia Pacific market share is competitive with key players including Nafine Group International Co., Ltd., Chaitanya Chemicals, Sankyo Kasei Co., Ltd., Anmol Chemicals Group, Hebei Xinji Chemical Group Co., Ltd., Shaanxi Fuhua Chemical Co., Ltd, Shengli Limited, and, Longfu Group.