Sodium Bicarbonate Market Size, Share, Demand & Trends by 2031
According to the report, the market is expected to flourish at a rising CAGR of 3.9% during forecast period. ESOMAR- certified firm Future Market Insight (FMI) has recently published a report on the global sodium bicarbonate market for the forecast period of 2021-2031.
There is substantial potential for high quality
pharmaceutical and food grade sodium bicarbonate. Increasing demand from
end-use industries such as chemical, pharmaceutical, and food &
beverage market will create lucrative opportunities for the players.
Sodium bicarbonate's properties and characteristics
such as odour neutralizing, cleaning, grease cutting, and moderate abrasiveness
makes it ideal for numerous end users. It has niche application in the
production of fire extinguishers and animal feed, contributing more to the
revenue.
Charts
and data tables about market and segment sizes for a historic period of five
(2021-2031) years have been covered in this report. Request
a sample report
Key takeaways from FMI's Sodium
Bicarbonate Market Study
- The
U.S. accounts for more than 80% of the North America market. The
rising application in pharmaceutical and food & beverage
industries will drive growth in the U.S.
- Powdered
sodium bicarbonate accounts for 82% of the global sodium bicarbonate
market. It is expected to dominate the market owing to its impressive
physical properties. Due to its crystalline nature it finds application in
industries such as pharmaceutical, chemical, food and beverage, and water
treatment facilities.
- Technical
grade sodium bicarbonate will account for 40% of the global market shares.
This growth is largely attributable to it's as application in leather
processing, flue gas desulfurization, and chemical production.
- China is
expected to be one of the dominant markets globally due to the presence of
various end-use industries and manufacturers. It is expected to account
for more than US$500 Mn by the end of forecast period.
- Germany accounts
for around 21% of the Europe market owing to presence of key
players and favourable environment for adoption.
"Demand for high quality and
cost-efficient sodium bicarbonate is expected to rise around the world. In
order to capitalize on existing opportunities, market players are likely to
focus on various expansion strategies. Some of them are likely to focus on
strategic collaborations to gain competitive edge," says the FMI analyst
Who is Winning?
Key players in the market are focusing on generating
profit by exploring potential applications. Players are expanding their
geographical boundaries to expand consumer base.
- In March
2021, Solvay SA announced to divest its soda ash and derivatives business
into a separate legal entity so that it can maximize cash flow generation
and improve company's strategic flexibility.
- In June
2020, Tata Chemicals announced its business reorganization under verticals
of material science, energy science, agri science, and nutritional science
to focus on lucrative chemistry and science segments.
Some of the leading players operating in
the market are:
- Solvay
SA
- Merck
KGaA
- Nirma
ltd.
- Tata
Chemicals Ltd.
- GHCL
Ltd.
- Ciech
SA
- DCW
Ltd.
- Seqens
group
- Tosoh
Corporation
- Hawkins,
Inc.
- Vitro
- Church
& Dwight Co., Inc.
Browse Full Report: https://www.futuremarketinsights.com/reports/sodium-bicarbonate-market
More Insight on the Global Sodium
Bicarbonate Market
In the latest study, Future Market Insights gives a
detailed insight on the sodium bicarbonate market, providing historical data
for the period of 2016 to 2020 and forecast statistics for the period of 2021
to 2031. To understand the global sodium bicarbonate market potential, its
growth, and scope, the market is segmented on the basis of various parameters:
By Grade Type
- Pharmaceutical
Grade
- Technical
Grade
- Food
Grade
- Feed
Grade
By Form
- Powder
- Pellets
- Slurry
- Liquid
By End Use
- Processed
Food
- Pharmaceuticals
- Personal
Care Products
- Chemicals
- Agrochemicals
& Nutrients
- Detergent
- Fire
Extinguisher
- Leather
& Dyeing
- Others
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- Middle
East and Africa (MEA)
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