Sodium Bicarbonate Market Key Players:
The prominent players profiled in the report by MRFR on the global sodium bicarbonate market are Tata Chemicals Ltd. (India), Solvay S.A. Chemicals Company (Europe), Church & Dwight, Inc. (the U.S.), FMC Corporation. (the U.S.), Blue Bird Foods India Pvt. Ltd. (India), Tosoh Corporation (Japan), Asahi glass co. ltd (Japan) and Others.
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Sodium Bicarbonate Market Segmentation:
MRFR report states that the global sodium bicarbonate market is segmented on the basis of application, end users and region.
By application, the global sodium bicarbonate market is segmented on the basis of medical, soap & detergents, baking powder, animal feed, chemical raw material, agrochemical, fire-extinguishing agent, and others. There is a high demand for sodium bicarbonate in the medical field, majorly used as antacids. It is used to treat the symptoms of stomach or duodenal ulcers. Moreover, it is also used to relieve heartburn and acid indigestion by neutralizing excess stomach acid.
By end users, the market is segmented on the basis of pharmaceutical, personal care, textile industry, food & beverages, chemical industry, agriculture and others. Sodium bicarbonate in food and beverage industry is extensively used in baking goods, legumes and beans, food coloring, effervescent soda, and vegetable and fruit scrub. Hence, the plethora of applications of sodium bicarbonate in the food and beverage industry propels its demand and leads to the segment growth.
Sodium Bicarbonate Market Regional Analysis:
Geographically, Asia Pacific emerged as the leading market for Sodium Bicarbonate followed by North America and Europe in 2018. 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.
Sodium Bicarbonate Market Competitive Landscape:
The tone for development in the market has been altered to a great extent with the entry of new players and the changes in the mode of functioning of the established players. The room for development in the market seems to be promising through the forecast period. The mounting interest in change within the business has ultimately permitted the businesses to apply many situations accessible in the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The market has been led into a new period of growth as the market is normally in a state of mutability.t. The odds for growing revenue inflow in the business are likely to multiply through the forecast period. The businesses in this market are attempting to improve and uphold financial fluidity that can be vital to invest in progress as and when applicable. Localization is among of the more favored trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates.
Asahi Glass co. Ltd (Japan), Solvay S.A. Chemicals Company (Europe), Church & Dwight, Inc. (USA), FMC Corporation (US), Blue Bird Foods India Pvt. Ltd. (India), Tosoh Corporation (Japan) and others are among the noteworthy players in the market.
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