Solar Thermal Power Plants Endows Attractive Revenue Streams to Players in Sodium Sulfate Market, Worth to Exceed US$ 2.6 Bn by 2031: TMR

ALBANY, N.Y., May 19, 2021 /PRNewswire/ -- The chemistries behind sodium sulfate have progressed remarkably over the past few decades, with the inorganic compound becoming almost ubiquitous. Ranging from use in powdered detergents, to fining agent in glassmaking, to paper production, to numerous chemicals of commercial value, the compound has been utilized in several end-use industries. Thus, the revenues in the sodium sulfate market have thrived from growing use in textiles, automotive, surfactants and construction sectors. Extensive utilization of sodium sulfate in home laundry detergents is a key trend that has propelled revenue growth over the decades.

Most recently and substantially, huge demand in the market has come from its use in solar power production, and continue to make strides due to rapidly emerging solar energy generation worldwide. The sodium sulfate market is projected to expand at CAGR of ~4% from 2021 to 2031, thereby making the revenues to surpass US$ 2.6 Bn by 2031.

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Key Findings of Sodium Sulfate Market Study

• Wide Range of Industrial Applications Boost Demand: Different forms of sodium sulfate have gathered traction in end-use industries imparting revenue growth to the market. Most notably, uptake of salt cake and Glauber's salt has contributed sizable chunks of revenues to players in the sodium sulfate market. Salt cake has emerged as one of the most lucrative segments by 2020, with the form utilized extensively in the making of glass and chemicals, and has been consumed majorly in wood pulp processes. Glauber's salt has been used substantially in various medications where the pharma companies utilized that for its laxative properties. China is one of the country market keenly expanding the production output of Glauber's salt, thereby endowing high growth prospects to the Asia Pacific (APAC) market.

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• Glass Production to Cater to Demands in Construction Sector Spurs Growth: One of the most lucrative end-use industries is glass production. It is used specifically for removing small air bubbles from molten glass. The demand for technical and other types of glass has proliferated in recent years especially in the developing world due to rise in construction activities. Growing use of glass in modern architectures is a key trend fueling sales. Rise in spending on infrastructural projects by governments in some developed nations has spurred the application of sodium sulfate to produce glass. Glass presents an attractive façade to commercial buildings as well.
• Small Scale Applications to Add Growth Momentum, Solar Energy to Drive Growth: Over the years, the use of sodium sulfate in detergents has declined significantly. On the other hand, several small-scale applications have driven demand in the sodium sulfate market. Perhaps, the most robust factor that has driven demand is the solar energy heat storage. The large numbers of solar thermal power plants that have come to the fore due to relentless focus on adopting more of renewables in the overall energy mix have underpinned the demand. Its use is preferred in secondary solar facilities. The demand is expected to impart a marked growth momentum to the otherwise declining demand in some other key sectors.

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Sodium Sulfate Market: Key Drivers and Avenues

• Strides being made by construction sector in developing countries is a key driver for opportunity generation
• Rapid pace of urbanization and sheer growth rate of industrialization in emerging economies bolster the prospects

Sodium Sulfate Market: Key Participants

• Cordenka GmbH & Co. KG
• Elementis plc
• Minera Santa Marta
• Alkim Alkali Kimya
• JSC Kuchuksulfate
• Saskatchewan Mining and Minerals Inc.,
• Godavari Biorefineries Ltd
• JSC Kuchuksulfate
• The Aditya Birla Group
• Godavari Biorefineries Ltd

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