NEWARK, Del, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The global hydrosulfite market value is expected to increase from USD 1,546.7 million in 2024 to USD 2,090.5 million by 2034. Over the forecast period, global demand for hydrosulfite is projected to surge at a CAGR of 3.1%.
The sodium hydrosulfite segment is expected to dominate the global hydrosulfite industry through 2034. It will likely hold a volume share of 82.3% by 2024. On the other hand, the potassium hydrosulfite segment is set to thrive at a robust CAGR of 5.6% through 2034.
Hydrosulfite is set to be extensively used across several industries for its versatile properties. In the paper and pulp industry, it serves as a bleaching agent, enhancing the brightness and quality of paper products.
Textile manufacturers utilize hydrosulfite for fabric bleaching, ensuring vibrant colors and improved aesthetics. In the food and beverage sector, it is used for whitening flour and sugar. The cosmetics and personal care industry also relies on hydrosulfite for hair-bleaching and skin-lightening purposes.
Manufacturers are expected to respond to the increasing demand by raising their production capacities, thereby ensuring a steady supply to meet industry needs. Rising demand for sodium hydrosulfite from the textile industry as a bleaching agent is also expected to compel manufacturers to increase production to meet the growing requirement for colorfast fabrics. This symbiotic relationship between supply and demand drives market expansion and sustains industry growth.
The hydrosulfite market is poised for significant growth in the estimated period, propelled by expanding industrial sectors, particularly in emerging economies. Rising demand for high-quality products, coupled with increasing environmental regulations favoring eco-friendly bleaching agents, is set to augment market expansion. Advancements in hydrosulfite technology, such as the development of more efficient and sustainable manufacturing processes, are further expected to fuel growth in the assessment period.
Key Takeaways from the Report
- The global market for hydrosulfite is projected to thrive at 3.1% CAGR through 2034.
- By product type, the sodium hydrosulfite segment is expected to have a total valuation of US$ 1,574.1 million by 2034.
- By application, the bleaching agent segment is set to hold a market share of 42.6% in 2024.
- East Asia is expected to account for a significant share of about 35.1% in 2034.
- China’s industry value is anticipated to reach US$ 474.5 million by 2034.
- The United States is projected to attain a valuation of US$ 303.1 million by 2034.
- Demand in India is predicted to rise at 3.8% CAGR through 2034.
“The hydrosulfite market is set to showcase robust growth due to its diverse applications across industries like textiles, paper & pulp, and wastewater treatment. Sodium hydrosulfite dominates in terms of product type owing to its versatility, while the textile industry emerges as a key end-user. The growth is also expected to be driven by expanding applications, technological advancements, and increasing demand for eco-friendly solutions in several sectors.” - Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
The global hydrosulfite market is consolidated, with leading players accounting for about 55% to 60% share. Alfa Aesar, Thermo Fisher Scientific, BASF SE, Bruggemann Chemical GmbH & Co. KG, Chemtrade Logistics, Inc., Esseco Group, Hansol Chemical, Helm AG, Mitsubishi Gas Chemical Company, Inc., Royce International Corp., TCP Limited, Transpek-Silox Pvt Ltd, and Montgomery Chemicals are the leading manufacturers and suppliers of hydrosulfite listed in the report.
For instance,
- In October 2023, Solenis successfully acquired CedarChem LLC, expanding its product line for water and wastewater treatment in the Southeast part of the United States. This move is in line with Solenis's aim to leverage CedarChem's reputation and experience to expand its market presence and improve customer service.
Hydrosulfite Market Segmentation
By Product Type:
- Sodium Hydrosulfite
- Potassium Hydrosulfite
- Others
By Form:
- Solid
- Liquid
By Application:
- Reducing Agent
- Bleaching Agent
- Antioxidant
- Others
By End Users:
- Paper & Pulp Industry
- Food & Beverages
- Textile Industry
- Cosmetics & Personal Care
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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Bleaching Agents Drive Hydrosulfite Market Growth with Rising Demand Across Industries
The bleaching agent segment of the global hydrosulfite market is poised for significant growth, with a projected CAGR of 3.1% from 2024 to 2034. By 2034, this segment is expected to reach a valuation of USD 829.9 million, driven by its versatility and widespread application across various industries. In the textile industry, hydrosulfite-based bleaching agents are crucial for achieving vibrant and uniform fabric colors, meeting the growing consumer demand for aesthetically pleasing products. Additionally, in the paper and pulp industry, these agents play a vital role in enhancing the brightness and quality of paper products, further boosting their market demand.
As consumer preferences shift towards brighter, more uniform, and visually appealing products, the need for effective bleaching agents like hydrosulfite is increasing. Industries across the board are striving to meet these expectations, solidifying the bleaching agent segment's position as a key driver of growth in the hydrosulfite market. This trend underscores the importance of hydrosulfite in maintaining product quality and consistency, ensuring its continued relevance in various industrial applications.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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