Albany, NY -- (SBWire) -- 11/06/2017 --In its report titled, "Sodium Sulfide Market: Global Industry Analysis and Forecast, 2016 - 2024", Persistence Market Research (PMR) estimates that the global consumption of sodium sulfide is projected to grow at a sluggish CAGR of 2.9% to reach 1,157 KT by 2024. Asia Pacific (APAC) will remain the largest market; however, demand will remain stifled on account of growing concerns about environmental damage. While leather processing will account for the bulk of demand, regular grade sodium sulfide will completely outsell high-purity variant.
A key application of sodium sulfide is in the leather and tanning industry. Sodium sulfide is primarily used as a dehairing agent during the process of pre-tanning. Dehairing is the first step while manufacturing leather and it is concerned with depilating animal hides with the help of specific chemicals. Sodium sulfide and lime based dehairing is widely deployed across diverse geographical regions involved in leather production as it is comparatively more efficient, efficacious and effective when compared to other alternatives available. A steady growth in global leather production can be safely expected during the course of the forecast period. Developing countries in the APAC region such as China, India, and Vietnam along with African nations such as Kenya, Morocco and Ethiopia should record strong growth in leather production over the course of the eight year study. This should directly benefit the sodium sulfide market in terms of positive growth.
In addition to Asia Pacific, Latin America and Europe will remain the other leading markets for sodium sulfide. Manufacturers in these markets will continue to use sodium sulfide for leather production. Latin America and Middle East & Africa (MEA) are expected to reflect 3.1% and 2.4% CAGRs respectively in term of volume during the forecast period.
Key players partaking in the global sodium sulfide market include Solvay SA, Inner Mongolia Lichuan Chemical Co. Ltd., Changsha Vahenry Chemical Co. Ltd., Tessenderlo Group, Xintai Wanhe Chemical Co. Ltd., and China Nafine Group International Co. Ltd. These players are focusing on development of application specific tailored solutions and product innovations.
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Global Consumption of Sodium Sulfide to Reach 1,157 KT by 2024
Sodium sulfide is widely utilized in dehairing process for leather production owing to its relatively higher effectiveness, efficiency and efficaciousness than other alternatives.