Technical grade segment to propel sodium sulfide market outlook over 2018 to 2024
Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Sodium sulfide market is expected to showcase significant growth over the projected timeframe 2018-2024, subject to a massive demand from several industries such as paper and pulp, leather, rubber, textile, mining and construction, oil and gas, and so on. These industries largely depend on sodium sulfide as it is one of the most crucial chemical compounds in manufacturing of their products.
Among the industrial applications for example, leather manufacturing companies require sodium sulfide for unhairing of animal hides before leather tanning. For instance, TIB, a Germany based chemical provider offers leather companies with their product named Thio Flakes which speeds up depilation and soaking in leather manufacturing.
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Moreover, improved lifestyle and rising disposable incomes have augmented the use of leather made accessories such as jackets, bags, shoes, briefcases, suitcases, etc. This consequently will increase the demand for sodium sulfide.
As per report, sodium sulfide market size is estimated to surpass USD 650 million by 2024. The overall sodium sulfide market is typically fragmented into different segments including the product type, grade, application, and regional landscape.
Growing demand for leather products sourced from animal hide is likely to drive sodium sulfide market trends. Sodium sulfide products are commonly used in the leather industry for applications like dehairing animal hides. Popularity of leather products continue to grow as they offer luxurious feel and excellent durability. Consumers are increasingly drawn towards leather-made products such as jackets, briefcases, suitcases, footwear, jewelry, furniture, etc.
Rise in per capita income and higher consumer purchasing power has resulted in substantial consumption of these products. Furthermore, expanding leather export businesses will fuel the sodium sulfide market demand in the coming years.
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