Worldwide sodium hydrosulfide market is predicted to surpass US $350 million by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Growing demand for Sulphur replacements in order to formulate fewer toxic compounds due to stringent regulations from BIS and EU for the usage of safe chemical is estimated to drive the sodium hydrosulfide market. Growing capacity of local manufacturers in China and India coupled with increasing chemical processing industry may accelerate NaHS market growth during the analysis period.
Increasing demand for leather goods coupled with growing exports in India are expected to fuel sodium hydrosulfide market growth. These products are used in tanneries to eradicate hair from animal skin for further usage in leather production, thus driving the product demand. However, costly process, risky manufacturing procedure and low yield may restrict the market growth.
According to the report, sodium hydrosulfide market is projected to increase on account of its involvement as a chemical intermediate in manufacturing of chemicals, leather, polymers, plastic additives, rubber chemicals, pesticides, dyes and pharmaceuticals. Furthermore, the product is utilized in water treatment industry as it helps in the removal of heavy metals from water, thereby boosting the market growth.
The product is utilized in the manufacturing of chemicals as it is a highly reactive compound of sulphur. In addition, sodium hydrosulfide finds application in textile industry, producing flame retardant resins and vulcanization accelerators, therefore fueling NaHS market growth.
Based on the regional landscape, Germany NaHS market from chemical processing application segment is projected to surpass US $1.5 million over the forecast timeframe. It is utilized in acid dyeing in fabrics. Increasing textile industry owing to existence of main fashion brands in the region will accelerate the market growth.
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Moreover, Japan sodium hydrosulfide market from mining segment is projected to register 3% gains by the year 2024. The product is used as a floatation agent which is utilized in mining of metals & salts as it has strong solubility in water, which give rise to metals from ore, resulting in recovery of metals.
The prominent companies operating in sodium hydrosulfide market include Merck and Chemical Products Corporation, Akzo Nobel, Solvay, Tessenderlo Group, Cayman Chemicals, and Genesis Energy.