According to a recent research study by Fact.MR, the sodium hydrosulfide market is anticipated to witness a CAGR of 4% during 2021-2031 and likely to offer promising stance to the manufacturers globally. The higher consumption in cloth and paper manufacturing industries is attributed to providing a significant growth rate during the forecast period.
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Some of the leading manufacturers and suppliers of sodium hydrosulfide include BASF SE, AZ Chemicals Inc., Guangdong ZhongCheng Chemicals Inc., Ltd, Montgomery Chemicals LLC, Bruggemann Chemical, Tokyo Chemical Industry, Mitsubishi Gas Chemical Company, Chemtrade Logistics, Jinhe Group and other prominent players.
For acquiring a dominant position on the globe, key manufacturers are emphasizing on the adoption of inorganic growth strategies such as mergers, acquisitions, collaborations and partnership with companies. For instance, Companies like Jinhe chemicals and BASF SE have integrated ventures.
Moreover, leading manufacturers have streamlined their supply chain network with the online and offline distribution channels to gain more market value. The market is the highly fragmented with abundant number of players operating globally.
COVID-19 pandemic has affected all economies across the globe. Due to COVID-19 protocols the supply chain has been disturbed in Q3 and Q4 of 2020. Along with it, demand from manufacturing industries was constrained. However, market is showing optimistic growth opportunities in early 2022.
It is used in the paper and pulp industry for bleaching brightening and de-colorization of recycled and virgin fibers. With digitalization and invention such as e-readers like amazon kindle and i-pad have affected the pulp and paper industry. The production of paper has seen a decline and this has resulted in decreased sales of sodium hydrosulfide.
However the utilization in the food industry due to its antioxidant properties has witnessed convenient growth outlook since past few years, is projected to follow the same trend during the forecast period.
The rising consumption in chemical industries is likely to provide momentum in sale in upcoming years since it works as a dechlorinating and desulphurising agents.
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