Sodium Sulfide Market - Forecast(2023 - 2028)

Sodium Sulfide Market Overview

Sodium Sulfide Market size is forecasted to reach US$790.7 million by 2027, after growing at a CAGR of 6.3% during the forecast period 2022-2027. Sodium Sulfide is derived from minerals such as mirabilite, thenardite, and more. The Sodium Sulfide is reacted with dihalides to form cyclic disulfides like dithiolane, which are frequently employed as a hydrate in industries such as textile, leather, and other such industries for superior chemical bonding. The Sodium Sulfide Market is majorly driven by the growth of the pulp and paper industry. Also, the surging growth of wastewater treatment projects worldwide is expected to fuel the demand for Sodium Sulfide, thereby benefiting the Sodium Sulfide industry growth during the projected forecast period. 

Sodium Sulfide Market COVID-19 Impact 

In the year 2020, due to the Covid-19 pandemic, the major economies of the world imposed stringent regulations, which hampered the Sodium Sulfide Market growth. The Covid-19 related regulation impacted the supply of materials, this resulted in the decline in imports and exports of Sodium Sulfide. For instance, according to the International Trade Administration (ITA), in 2019, the global imports of Sodium Sulfide were US$276.85 million, and in 2020 it was US$270.87 million, a decline of 2.2%. Furthermore, in 2019, the global exports of Sodium Sulfide were US$235.74 million, and in 2020 it was US$201.26 million, a decline of 17.13%. The decline in imports and exports of Sodium Sulfide at the global level resulted in revenue losses for the market. However, in 2021, the ease of the Covid-19 related regulation strengthened industrial production, which benefited the market growth. Additionally, it is expected that the negative impact of the Covid-19 pandemic will be phased out in upcoming years. This will strengthen the Sodium Sulfide industry growth during the projected forecast period.      

Report Coverage 

The report: "Sodium Sulfide Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Sodium Sulfide Market. 

Sodium Sulfide Market Segment Analysis – By End-Use Industry 

The paper and pulp segment held a significant share in the Sodium Sulfide Market in 2021 and is forecasted to grow at a CAGR of 7.5% during the forecast period 2022-2027. Sodium sulfide is water-soluble, ensuring superior alkaline solutions properties, which results in the treatment of wastewater and enhances the usage of water multiple times. This property makes the usage of Sodium Sulfide ideal for the pulp and paper industry because during the manufacturing process of pulp the water wastage is high. Higher demand for paper-based products is surging from industries such as food, pharmaceuticals, and others because the paper is used in packaging, and other applications, which is boosting the growth of the pulp and paper industry. For instance, according to the Confederation of European Paper Industries (CEPI), in the year 2020, the total production of paper and paperboard in Europe was 84.97 million tons, and in 2021 it was 90.2 million tons, an increase of about 5.8%. Hence, the surging paper and pulp industry is expanding the demand for cleaning chemicals, which is expected to boost the demand for Sodium Sulfide, thereby, fueling the market growth.

Sodium Sulfide Market Segment Analysis – By Geography 

Asia-Pacific region held a significant share in the Sodium Sulfide Market in 2021 up to 38%. The Asia-Pacific industrial growth is driven by the growth of various industries such as paper and pulp, wastewater treatment, and other such industries. The Asia-Pacific paper and pulp industry are growing due to the development of new facilities, the surge in production, and governmental initiatives associated with the paper and pulp industry in the region. For instance, in March 2022, work began on the 33.4 trillion rupiahs (US$2.33 billion) Asia Pacific Resources International Ltd (APRIL Group) paperboard facility?in Indonesia, with completion scheduled for the third quarter of 2023. Moreover, according to the General Statistics Office of Vietnam, in the year 2020, the production of paper cover in Vietnam was 2754.2 thousand tons, an increase of about 13.6% when compared with 2019. Also, the Chinese government's initiatives for the clean and sustainable production of pulp and paper are promoting less wastage of water, reuse of wastewater after filtration, and other such measures are promoting the sustainable pulp and paper industry. Therefore, the surging paper and pulp industry in the Asia-Pacific region is expected to accelerate the demand for Sodium Sulfide, which is further accelerating the market growth.