Novel Applications Of Sodium Dichromate To Drive The Market Growth
Date
7/19/2024 1:29:11 AM
(MENAFN- Straits Research)
The global sodium dichromate market is presently in the maturity phase and is expected to witness a substantial growth owing to its rising demand across Europe and Asia-Pacific. The growth of the textile industry is a significant factor in driving the market growth. Sodium dichromate is extensively used in the production of pigments, which is further used to produce stable colors for the textile sector. The rising working populace is subsequently increasing the demand for packaged and on-the-go food. Sodium dichromate is used in the production of flexible packaging as it AIDS in increasing the shelf-life.
Impact of Covid-19
The COVID-19 pandemic has compelled the industrialists and companies to halt the production and operations, disrupting the supply chain. The chemicals industry is negatively impacted by the outbreak as the production has to be on-site, which has been disrupted due to lockdown imposed by the government. Additionally, the profit margins of the chemical manufacturers are expected to decline due to decelerating lower chemical demand, further hampering the market growth.
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Key Highlights
The sodium dichromate market is expected to grow at a lucrative CAGR of xx% owing to its importance as a crucial intermediate for manufacturing various raw materials.
The pigments sector is projected to hold the highest market share as most of the sodium dichromate produced is invested in the production of chromium pigments
Europe is expected to dominate the market on account of favorable government regulations and increasing approvals for the consumption of sodium dichromate
Key Players
LANXESS, Soda Sanayii A.S.
Vishnu Chemicals
Sichuan Chemical Group Co., Ltd.
Haining Peace Chemical Co., Ltd
Gansu Qiyuan Chromate-Chemical Production Co., Limited
Tianjin Mingyang Chemical Industry Co., Ltd
Elementis plc
Nippon Chemi-Con Corporation
Yin He Holdings Limited
Sodium Dichromate Market: Segmentation
By Application
Wood preservatives
Leather tanning
Metal finishing
Pigments
By Region
North America
Europe
Asia-Pacific
South America
The Middle-East and Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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