Sodium Amide Market Surges To Us$ 1.4 Billion At 6.8% Cagr By 2033: Fact.Mr Analysis

2023-09-05 10:17:33

(MENAFN- GlobeNewsWire - Nasdaq) Rockville, Sept. 05, 2023 (GLOBE NEWSWIRE) -- A newly published research report by Fact.MR, a market research and competitive intelligence provider, reveals that worldwide sales of sodium amide are projected to rise at a CAGR of 6.8% through 2033. The global Sodium Amide Market is set to reach a value of US$ 1.39 billion by 2033-end. Increasing use of sodium amide in sodium cyanide synthesis is attributed to its importance as a popular reagent to extract gold from its ore.

Rapid growth of the gold industry is generating huge demand for sodium cyanide, which is pushing the sales of sodium amide. It is also utilized in hydrazine synthesis. Hydrazine is used as a crucial part of rocket fuel in space exploration programs. Emergence of advanced healthcare facilities along with expansion of the pharmaceutical industry, especially across emerging economies, is predicted to drive up the demand for sodium amide.

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Key Segments of Sodium Amide Industry Research Report

By Application	By Distribution Channel	By Region
Dye Industry Organic Synthesis Pharmaceutical Manufacturing	Retail Sales Online Retailers Distributors	North America Europe Asia Pacific Latin America Middle East & Africa

Key Takeaways from Market Study

The global sodium amide market reached a size of US$ 676.9 million in 2022.
Worldwide demand for sodium amide is valued at US$ 723 million in 2023.
Sales of sodium amide are projected to increase at a CAGR of 6.8% through 2033.
The global market is projected to reach US$ 1.39 billion by the end of 2033.
Growing demand for dyes across variindustries, including textiles, paper, etc., is driving opportunities for suppliers of sodium amide.

“ S ignificant expansion of the gold industry and growing requirements for indigo dye from the textile industry are leading to increased use of sodium amide as a crucial c ompound , ” says a Fact.MR analyst.

Japan, India, and China Emerging as Profitable Markets for Sodium Amide Suppliers

Significant increase in the population of China and India is leading to the growth of the textile and dye industries. It is further leading to the increased demand for sodium amide as a prominent chemical in the production of dyes. Moreover, growing prevalence of health issues among aged people in Japan is also driving demand for sodium amide.

Report Attributes	Details
Forecast Period	2023 – 2033
Value Projection (2033)	US$ 1.4 Billion
Growth Rate (2023-2033)	6.8 % CAGR
No. of Pages	170 pages
No. of Tables	25 Tables
No. of Figures	132 Figures

Key Market Players

Prominent suppliers of sodium amide are BASF SE, Synbtharo Fine Chemicals, GmbH, Chemoas GmbH, Hangzhou Dayangchem, KH Boddin GmbH, Kinbester, Natrizen Chemical Pvt. Ltd., Jinxiang Chemical Factory, Nansense Labs Ltd., Hongze Xinxing Chem Co. Ltd., Alkali Metals Limited, Solvay Inc., Fox Chemicals GmbH, Hangzhou Meite Chemical Co., Ltd., and Align Chemicals.

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Why the United States is an Attractive Market for Sodium Amide Suppliers ?

The United States is poised to take center stage as a lucrative market for sodium amide suppliers. This transformation is underpinned by the surging utilization of sodium amide in dyeing denim and other apparel items, thereby creating substantial avenues for suppliers.

1. Growing Utilization in Textile Industry: Sodium amide has found a valuable application in the textile industry, particularly in dyeing denim and variclothing items. As fashion trends evolve and consumer preferences shift, the demand for vibrant and unique colors in textiles has increased. Sodium amide plays a crucial role in achieving the desired shades and colorfastness in denim and apparel, making it an indispensable component in textile processing. The expanding textile industry in the United States is generating significant opportunities for sodium amide suppliers. With the country's strong presence in the fashion and apparel sector, this trend is expected to continue driving demand.

2. Expansion of the Textile Industry: The United States has witnessed substantial growth in its textile industry, driven by factors such as innovation, sustainability, and a foon high-quality products. This growth encompasses varisegments of the textile sector, including clothing, home textiles, and industrial textiles. As the industry expands, the demand for key inputs like sodium amide is set to rise. Suppliers can tap into this burgeoning market by providing reliable and high-quality sodium amide products to meet the industry's needs.

3. Increased Use in Pharmaceuticals: Sodium amide has found applications beyond textiles, particularly in the pharmaceutical industry. One significant driver is the rising prevalence of health disorders among the aging population in the United States. With a growing number of elderly individuals facing geriatric ailments, there is an increased need for pharmaceutical solutions. Sodium amide is employed in pharmaceutical processes, including drug synthesis and formulation. Its role as a chemical reagent and catalyst in varipharmaceutical reactions positions it as a valuable component in the production of medications targeting geriatric disorders. This increased usage in the pharmaceutical sector underscores its significance in the U.S. market.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the sodium amide market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on application (dye industry, organic synthesis, pharmaceutical manufacturing) and distribution channel (direct sales, online retailers, distributors), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).

Checkout More Related Studies Published by Fact.MR Research:

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Sodium Lignosulfonate Market : The global sodium lignosulfonate market is projected to reach US$ 535 million in valuation by 2033, up from its present market size of US$ 377 million in 2023. This is because global demand for sodium lignosulfonate is estimated to increase at a CAGR of 3.5% during the forecast period (2023 to 2033).

Sodium Tripolyphosphate Market : The global sodium tripolyphosphate market is expected to reach a valuation of US$ 2.4 billion in 2023 and further grow at a CAGR of 4.5% to reach US$ 3.7 billion by the end of 2033.

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