Sodium Bicarbonate Market, Key Player, Analysis, Type and Business Opportunities, Current Trends, Forecast by 2030
Research Reports
Mar 28, 2022
Sodium Bicarbonate Market Overview
As per the analysis by Market Research Future (MRFR),the Sodium Bicarbonate Market is set to witness a compound annual growth rate of USD 13 Billion at 4.85% during the forecast period (2022-2030).
The growing food industry and flourishing textile industry are anticipated to expand the sodium bicarbonate market 2020. The increasing demand for ready-to-eat food due to the fast-paced life is projected to surge the need for sodium bicarbonate further that can boost the market. The growing popularity of bakery products is likely to positively influence sodium bicarbonate demand, which can augment the market. Furthermore, the market is anticipated to grow significantly due to the rising demand for sodium bicarbonate in agriculture and pharmaceutical sectors during the projected tenure.
On the contrary, sodium bicarbonate is projected to impact health, which can hamper market growth negatively. However, lesser production costs and low environmental impact are anticipated to counter impeding factors, and boost the market in the forecast period.
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Key Players
The major market players in the market are
- Tosoh Corporation
- ?i?ecam Group
- Solvay SA
- AGC Inc
- Church & Dwight Company
- Novacap
- Bashkir Soda Company
- Kazan Soda Elektrik
- Ciner Group
- Tata Chemicals
- Natural Soda
- Ciech Group.
Sodium Bicarbonate Market Segmentation
The segmental analysis of the global sodium bicarbonate market is done by grade and end-user.
The grade-based segments of the global sodium bicarbonate market are done by feed, pharmaceutical, food, and technical.
The end-user based segments of the global sodium bicarbonate market are done by feed, textile, food & beverages, chemicals, flue gas treatment, agriculture, personal care& pharmaceuticals, hemodialysis, detergents & cleaning agents, and others.
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Regional Classification
Based on the region, the global sodium bicarbonate market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa, and Latin America.
As per the analysis, the global market is projected to be dominated by North America during the forecast period. The region is anticipated to acquire the largest market share in the global sodium bicarbonate market. The market growth of the region can be attributed to the high demand of the compound in the food industry, water treatment, and pharmaceuticals. Furthermore, the increasing production of soda ash in the U.S is projected to drive the regional market.
The APAC region is predicted to grow at a significant rate during the forecast period owing to the increasing demand of sodium bicarbonate from China and India. Furthermore, the region has surfaced to be a major investment destination for prominent market players, which can augment the regional market growth. The APAC market is estimated to expand at a CAGR of 3.96% during the review period. Expansion of industries such as animal feed and F&B is anticipated to be another significant factor driving the regional market. Besides, the rising demand from the pharmaceutical industry is predicted to play a crucial role in boosting the regional market in the coming period.
Europe market is anticipated to progress at a significant rate during the review period owing to the expansion of the pharmaceutical sector. Furthermore, the robust presence of the personal care sector is predicted to strengthen the regional market. The UK, Germany, and a few other countries are expected to play a notable role in developing the regional market.
The MEA region is predicted to acquire the least market share during the forecast period. The region is likely to lag due to a lack of awareness and under-developed nations. However, the presence of untapped opportunities can augment the regional market in the coming period.
Recent Development
September 2021: Tata Chemicals, a leading Indian company, issued a statement discussing the huge and growing focus on renewable energy, with government and private sector investment in sources due to the driving global demand for soda ash, which in turn drives demand for sodium bicarbonate, especially for flat glass in solar applications. Increased demand for flat glass as a result of these factors is one of the major contributors to overall soda ash demand increase, as well as one of the causes for continuous upward firmness in soda ash prices, and therefore in the sodium bicarbonate market. After the pandemic, industries that use sodium carbonate as a crucial ingredient in their manufacturing process have sprung back into action and are running at full capacity, with new expansions planned.
December 2020: Amphastar Pharmaceuticals obtained FDA clearance to complement its application for abbreviated new sodium bicarbonate injection drug.
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Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 List Of Assumptions 19
2.4 Market Structure 20
2.5 Key Takeaways 20
3 Market Insights
4 Research Methodology
4.1 Research Process 26
4.2 Primary Research 27
4.3 Secondary Research 28
4.4 Market Size Estimation 29
4.5 Forecast Model 29
5 Market Dynamics
5.1 Introduction 31
5.2 Drivers 32
5.2.1 Increasing Use In Animal Nutrition 32
5.2.2 Surging Demand In The Food Industry 33
5.2.3 Drivers Impact Analysis 33
5.3 Restraints 34
5.3.1 Emergence Of Substitutes 34
5.3.2 Restraints Impact Analysis 34
5.4 Opportunities 35
5.4.1 Growing Use Of Baking Soda As A Deodorizing Agent In Personal Care Products 35
5.5 Challenges 35
5.5.1 Environmental Impact And Health Hazards 35
6 Market Factor Analysis
6.1 Supply Chain Analysis 37
6.1.1 Raw Material Suppliers 37
6.1.2 Sodium Bicarbonate Producers 37
6.1.3 Distribution Channel 37
6.1.4 End-Use Industry 38
6.2 Porter’s Five Forces Model 38
6.2.1 Threat Of New Entrants 38
6.2.2 Threat Of Rivalry 38
6.2.3 Threat Of Substitutes 38
6.2.4 Bargaining Power Of Suppliers 39
6.2.5 Bargaining Power Of Buyers 39
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