Market Research Future published a Half Cooked Research Report on “Global Sodium Bicarbonate Market Research Report – Forecast to 2022”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Tata Chemicals Ltd., Solvay S.A., Chemicals Company, Church & Dwight, Inc., FMC Corporation., Blue Bird Foods India Pvt. Ltd., Tosoh Corporation, Asahi glass co. ltd, Novacap Group among others are some of the prominent players at the forefront of competition in the Global Sodium BicarbonateMarket and are profiled in MRFR Analysis.
Sodium Bicarbonate Market – Overview
Sodium Bicarbonate is a crystalline solid and find variety of usage includes graffiti removal, household uses, drug intoxications, and detergent. The Sodium Bicarbonate Market is estimated to grow tremendously and register a robust growth with a healthy CAGR during the forecast period. Some of the important drivers supporting the market growth are rapidly growing pharmaceutical and chemical industry, due to rising demand for cleaning products combined with growing health consciousness among consumer. Another key factor which is further propelling the growth of sodium bicarbonate market is superior growth in food & beverage industry on account of increasing demand for packaged food worldwide. Moreover, high demand in animal feed industry is expected to fuel the market growth. However, the factor which may hinder the market growth is eye and skin irritation due to the side effects of sodium bicarbonate. Personal care application segment is predicted to grow tremendously on account of rising per capita disposable income in developing countries combined with huge expenditure on cosmetics and personal care products. Furthermore, pharmaceutical segment is estimated to witness significant growth due to increasing consumer awareness regarding the benefits associated with sodium bicarbonate. Moreover, increasing investment in research and development in the pharmaceutical sector and huge investment by the key players is estimated to drive the market growth over the assessment period.
Geographically, Asia Pacific emerged as the leading market for Sodium Bicarbonate followed by North America and Europe in 2016. The Asia Pacific region provide huge growth potential for Sodium Bicarbonate and is estimated to register highest CAGR due to increasing industrial investment specifically in China. Moreover, end use industrial growth in various countries of Asia Pacific such as South Korea, India, Japan, China, Thailand, Vietnam, and Malaysia. Furthermore, increasing investment by major companies and shifting of production facilities in this region is predicted to regional market growth. North American market is predicted to witness moderate growth due to increased demand from end use industries such as pharmaceutical and food & beverage. Europe is estimated to witness steady growth owing to the significant growth of textile and personal care industries.
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Industry/ Innovation/ Related News:
July 2017- Novacap Group, a European based leading manufacturer of soda ash and Sodium Bicarbonate started commercial scale production unit in Jurong Island, Singapore. With this expansion, the company has increased its global presence by increasing production capacity to 120,000 metric tons. This plant is built with the aim to meet the rising demand for sodium bicarbonate in Asia.
August 2017- Genesis Energy, a Texas based company acquired the alkali business from U.S. based chemical company Tronox. With this acquisition, the company strengthen its position among global sodium bicarbonate manufacturers.
January 2017- Carbon Clean Solutions Limited, a global leader in carbon related technology launched a project to capture carbon content from coal fired power plant in India. After the installation of this unit, the power plant will convert into zero emission plant. This technology will help in reducing pollution and help in increasing efficiency of plant.
June 2016- Solvay S.A along with its distribution partner named Orffa expanded their relationship to serve its Sodium Bicarbonate based solution BicarZ in the Denmark market. With this agreement, Solvay increase its product penetration in Denmark by utilizing Orffa’s technical and marketing competences in animal feed industry in this region.
July 2016- Ajanta Pharma USA Inc., a subsidiary of Ajanta Pharma Ltd. Launched omeprazole and Sodium Bicarbonate capsules. With this product launch company, the company expand its product portfolio in Sodium Bicarbonate based drugs.
The Sodium Bicarbonate Market Report analyses the degree of competition among the market players as well as industry growth and market scenario. The global sodium bicarbonate market consist of diverse players operating in the market including large scale and small scale manufacturers. This industry is moving towards growth consolidation specifically, by Asia Pacific as small scale and key players are from this region specifically from China, South Korea, Thailand, and India. Furthermore, manufacturers from Europe and North America are planning to expand their manufacturing base to Asia Pacific region in order to meet the demand for Sodium Bicarbonate in this region. Moreover, the market is growing with a significant growth rate which raises the competitive rivalry among the industry players.
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