The sodium sulphate market is projected to grow to $1.6 billion by 2030, driven by demand in soaps and detergents, despite challenges from substitutes.
Allied Market Research recently published a report, titled, “Sodium Sulphate Market by Product (Natural and Synthetic), Form (Salt cake, Glauber’s Salt, and Niter Cake), and Application (Soaps & detergents, Textile, Glass, Pulp & Paper, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030”. As per the report, the global sodium sulphate industry was pegged at $1.0 billion in 2020, and is expected to reach $1.6 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
Drivers, restraints, and opportunities
Increase in use of soaps and detergents and rise in demand for use in solar energy storage devices drive the growth of the global sodium sulphate market. However, easily available substitutes and limited new uses for the product hinder the market growth. On the contrary, untapped potential and emergence of new markets would open new opportunities in the future.
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Covid-19 scenario:
The natural segment dominated the market
By product, the natural segment held the largest share in 2020, accounting for nearly two-thirds of the global sodium sulphate market. Moreover, the segment is expected to register the highest CAGR of 4.7% during the forecast period, owing to rise in production output of pulp and paper industries. The report includes an analysis of the synthetic segment as well.
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The soaps and detergents segment to manifest the highest CAGR through 2030
By applications, the soaps and detergents segment would showcase the highest CAGR of 4.9% from 2021 to 2030. In addition, the segment held the largest share in 2020, contributing to more than two-fifths of the global sodium sulphate market, due to its properties of sodium sulphate that enables the detergent powder to flow freely. The report includes an analysis of segments such as textile, glass, pulp & paper, and others.
Asia-Pacific, followed by North America, held the largest share
By region, the global sodium sulphate market across Asia-Pacific, followed by North America, held the lion’s share in 2020, accounting for nearly three-fifths of the market. Moreover, the region would showcase the highest CAGR of 4.8% from 2021 to 2030, owing to high consumption of the product in China for a variety of applications including textiles and soaps & detergents.
Major Market Players
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The article discusses the growth and trends in the sodium sulphate market, projected to reach $1.6 billion by 2030.
Increased use in soaps, detergents, and solar energy storage are key drivers of market growth.
Covid-19 caused supply chain disruptions and increased raw material prices, impacting market dynamics.
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