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Sodium hydrosulfide market to amass remarkable proceeds from wastewater treatment applications, Asia Pacific to emerge as a prominent revenue pocket
The expansive consumer spending has encouraged rapid industrialization around the world, fueling the sodium hydrosulfide market size, with increased manufacturing activities giving rise to environmental concerns. Sodium hydrogen sulfide, chemically known as NaHS, has been found to be critical in treating industrial waste and is utilized for effective wastewater treatment to remove heavy metal contamination. Important uses in the leather tanning, chemical processing and mining sectors have been driving the sodium hydrosulfide market growth for many years. However, it is expected that industrial cleaning and waste management would be a considerable revenue source in the near future, owing to the escalating need to prevent river and soil pollution.
U.S. Sodium Hydrosulfide Market Size, By Application, 2017 & 2024, (Kilo Tons)
Individual heavy metals like nickel or chromium can be released from wastewater through precipitation process, an application that has transformed the sodium hydrosulfide industry tremendously. NaHS has gradually earned the position of an affordable alternative for water treatment in metal, glass, printing and ceramic industries. These industries generate large amounts of waste and if it reaches nearby lands or water bodies, it could end up polluting the ecosystem. As companies will look to adopt efficient treatment systems for managing their waste, with environmental agencies imposing stringent rules, the sodium hydrosulfide market is expected to garner immense momentum going forward.
In essence, meeting regulatory requirements and enhancing the overall community health can be a major driver for the sodium hydrosulfide industry. Asia-Pacific (APAC), in particular, would be needing a greater number of industrial and sewage waste treatment solutions over the next few years, as the region is immensely populated and promises to exhibit an incredible industrialization rate. It is estimated that over 2 billion people would be added to the world population before 2050, with a majority people living in APAC and creating enormous demand for food, consumables and automobiles.
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A key source of heavy metal contamination in industrial waste is the automobile and associated segments such as glass and battery. Flat glass is commonly utilized across the automotive and construction industries as it can be easily adapted to doors, windows, mirrors, among other parts. Apparently, glass manufacturing and processing requires high purity water and various types of wastewater is generated from mirror production, polishing plants, and other areas. This waste mostly contains several pollutants, including heavy metals, indicating the need for water treatment and a lucrative potential for the APAC sodium hydrosulfide market.
Reports predict that by 2025, construction sector would be one of the biggest contributors to the global industrial output, accounting for nearly 13.5% share. China, India and Indonesia would be among the top seven countries in the world that will be responsible for up to 72% of the projected growth, underscoring the massive opportunities in APAC over the forecast period. The region will also witness growing automobile production, a segment which also entails the progress of the glass production industry. Subsequently, the sodium hydrosulfide industry will take advantage of the mounting demand for glass and other products that release hazardous wastewater during production.
Worldwide, the speedy recovery of the chemical sector and the rising exports of specialty chemicals has also bolstered the sodium hydrosulfide industry, as NaHS is extensively used for chemical processing by manufacturers. APAC is a well-known chemicals market and China is the main driver of chemicals demand around the globe. In 2016, China had also exported chemicals worth more than USD 54.29 billion, demonstrating its prowess the critical segment, establishing itself as a viable target for the sodium hydrosulfide market.
On the whole, the accelerated growth of chemical, automobile and construction industries in APAC region will certainly propel the use of NaHS across the application spectrum, supported by the consistent demand for metals, paper and leather goods world over. Comprising key industry participants like AkzoNobel, Cayman, Genesis Energy, Henan Tianshui Chemical, Merck, Solvay and TCI Chemical, the sodium hydrosulfide market revenue is anticipated to surpass USD 350 million globally by 2024.
Author Name : Pankaj Singh
Sodium sulfide market to amass substantial returns from ore processing applications, global industry to register a valuation of USD 665 million by 2024
U.S. Sodium Sulfide Market Size, By Application, 2017 & 2024, (Kilo Tons)
Copper is an excellent heat and electricity conductor, besides having other suitable properties, making it ideal for heating systems, power transmission and various aesthetic parts of a building. The sodium sulfide market has benefited from the consistent demand for copper in construction sector throughout the world. A report suggested that the construction market is projected to grow annually at a rate of nearly 4.5% till 2020, a fact clearly supported by the vast population observed in the Asia-Pacific region. Boasting of a strong mining infrastructure and mounting investments in mineral exploration, the region could provide considerable propulsion to the sodium sulfide industry through the production of copper.
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Essentially, most of the building components made of copper have high levels of recycled content, more than 80% in many cases. The metal is considered to be important for ensuring the energy efficiency of green buildings, an up and coming trend in the construction sector worldwide. Copper is extremely suited for environmentally sound plumbing and wiring, in addition to its uses in bathroom fittings and lighting. The high-conductivity of copper has led to its utilization in advanced occupant monitoring systems and for heat transfer in water heater systems. Intrinsically, the need for improving energy efficiency in buildings will ensure elevated copper demand, driving the sodium sulfide industry growth.
Worldwide trends have shown that Europe is moving faster towards sustainable construction, suggesting broader development prospects for the copper industry. Expounding the tremendous opportunities for the consumption of the metal, it is widely used in the manufacturing sector for making parts of automobiles, electronics and many other components. As such, mining companies are looking to expand their production of copper, even though it has already been one of the most mined ores in the human history. Increased ore processing activities to meet the global requirements will also bolster other industries involved in its production, including the steadily booming sodium sulfide market.
It was estimated that globally, around 19.7 million metric tons of copper was produced from mines in 2017, with consumption of the element currently standing at nearly 23.8 million metric tons per year. The evidence of a robust increase in the demand and use of copper, and subsequent proliferation of the sodium sulfide market, can be gathered by the efforts of companies like Excelsior Mining, who are seeking the development of new mines. In 2017, the company had received permission by Arizona regulators to open the state’s first copper mine in over a decade, boosting the supply of the element in the U.S. and the state’s own mining revenues.
Speaking further, the Arizona mine has a life expectancy of almost a quarter century, signifying consistent copper supply over the coming years. Also, world’s second largest copper producer, Peru, recently launched another new copper mine worth USD 1.6 billion, that would produce 102,000 t/year of copper concentrated with operations starting in 2020. These are only some instances underscoring the extensive requirements of copper ore processing worldwide, which will eventually fuel the sodium sulfide market expansion. Citing another example to demonstrate the industry potential, a Chinese owned firm had, in August this year, started production at a new copper mine in Zambia, with its full capacity set to be reached by 2020.
All in all, continuous rise in the production copper throughout the globe, along with other ferrous and non-ferrous elements that are widely used by different industries, will accelerate the sodium sulfide market size in the imminent future. Massive consumption of the compound in paper, textile products and leather goods will also generate substantial revenue for the global sodium sulfide industry, pushing it beyond USD 665 million by 2024.
Author Name : Pankaj Singh
Global Market Insights Inc. 