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Market Size – USD 759.2 Million in 2019, Market Growth - CAGR of 6.3%, Market Trends –Growing use in leather tanning

VANCOUVER, BRITISH COLUMBIA, CANADA, June 15, 2023/EINPresswire.com/ -- The global sodium dichromate market is projected to be worth USD 1,242.4 Million by 2027, according to a current analysis by Emergen Research. The sodium dichromate market is observing high demand attributed to its growing demand from the textile industry.

The sodium dichromate market refers to the global trade and consumption of sodium dichromate, a chemical compound with the formula Na2Cr2O7. Sodium dichromate is a bright red-orange crystalline solid that is highly soluble in water. It is primarily used in various industrial applications, such as in the production of pigments, dyes, and tanning agents.

The market for sodium dichromate is driven by several factors. One of the key drivers is its extensive use in the manufacturing of chrome-based pigments, which are widely employed in the production of paints, coatings, and inks. The demand for these products in various industries, including construction, automotive, and packaging, contributes to the growth of the sodium dichromate market.

Another significant application of sodium dichromate is in the production of leather tanning agents. It is used as a key ingredient in the formulation of chromate-based tanning agents, which are essential for the treatment and preservation of animal hides. The leather industry's demand for sodium dichromate plays a crucial role in the market's expansion.

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Competitive Terrain:

The global Sodium Dichromate industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Lanxess, Nippon Chemical Industrial Co. Ltd., Chongquing Minfeng Chemical Co. Ltd., Jinshi Chemical Industry Co. Ltd.,Elementis, Hebei Chromate Chemical Co. Ltd., American Elements, Sichuan Yinhe Chemical Co. Ltd., Soda Sanayii AS, Xinjiang Sing Horn Group

Research Report on the Sodium Dichromate Market Addresses the Following Key Questions:

Who are the dominant players of the Sodium Dichromate market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Sodium Dichromate market?

What are the key growth drivers and restraining factors of the Sodium Dichromate market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Sodium Dichromate market and its key segments?

Market Overview:

The report bifurcates the Sodium Dichromate market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

Calcium Roasting

Calcium-Free Roasting

Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

Online

Offline

Application Outlook (Revenue, USD Billion; 2017-2027)

Metal Finishing

Chromium Compounds Preparation

Leather Tanning

Pigment

Wood Preservative

Regional Landscape section of the Sodium Dichromate report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Some Key Highlights from the Report

In August 2019, LANXESS, a firm engaged in the production and supply of specialty chemicals, entered into a definitive agreement with Brother Enterprises, a leather chemicals firm based in China, to divest chrome chemical business.

Calcium-free roasting held a significant market share of sodium dichromate in 2019 as the energy consumption during calcium-free roasting is about 35.0% less compared to calcium roasting.

Sodium dichromate is highly water-soluble. It is not only a better corrosion inhibitor but also a major intermediate chemical in the production of several chromium compounds.

The growth of the sodium dichromate market in North America is attributed to the growth of the paper and textile industries. Also, increasing demand for wood preservatives in the building and construction sector is causative of the increased market demand.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Sodium Dichromate market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

Data and information related to the consumption rate in each region

Estimated increase in the consumption rate

Proposed growth of the market share of each region

Geographical contribution to market revenue

Expected growth rate of the regional markets

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