Silver Sulphate Market: Introduction
Silver Sulphate is an ionic compound, with a chemical formula of Ag2SO4 and can be used as a substitute for silver nitrate. Silver sulphate is odorless in nature and is white to gray solid, which can sink with water and is soluble. It is more soluble in comparison to the silver halides. Additionally, silver sulphate is stable under the ordinary conditions or room temperature, but when it is exposed to direct light and air it gets dark in color. Therefore, the best way to keep silver sulphate is in the dark colored and airtight bottles.
Silver sulfate has weak reducing or oxidizing powers, however, redox reactions are sometimes possible up to some extent. Most of the compounds, which falls in this category, are slightly insoluble or soluble in water. If they are soluble in water, then the solutions are generally neither strongly basic nor strongly acidic. Therefore, these compounds such as silver sulphate are not water-reactive. Additionally, there are some harmful effects of silver sulphate such as when one gets direct contact to it, silver sulphate can cause serious irritation or damage to eye and skin, and it has the hazardous impact on aquatic life and cause long-term effects.
Furthermore, there are numerous uses of silver sulfate such as it can be used or silver plating process, for medicinal purposes, water treatment, solar cells, fuel cells, etc. As it is an antibacterial agent and has high ability to kill bacterial cells, silver sulphate is used as bandages. In Food industry silver Sulphate is used in very less amount due to the rules and regulations defined by Food and Drug Administration (FDA). Silver Sulphate is also used to remove tarnish from aluminum as it reacts with other metal leaving behind the silver.
Silver Sulphate Market: Dynamics
Silver is attributed as the antibacterial element, thus finds its application in the pharmaceutical industry for example in the treatment of skin wounds, skin abrasions, serious lacerations which are impregnated with silver Sulphate and provide relief to the patient’s, thus owing to this property exhibited by silver Sulphate it is expected to drive the silver Sulphate market. Chemical industry is expected to be one of the major consumer of Silver Sulphate as it is used as an antioxidant, lubricant, catalyst, in silver plating etc. thus fueling the growth of silver Sulphate consumption during the forecast period.
Presence of many suppliers across the globe such as Molepedia, 1717 CheMall Corporation, AKos Consulting & Solutions, Aurora Fine Chemicals LLC, Finetech Industry Limited etc. indicates that market is growing at a significant rate.
High cost of silver Sulphate due to the high cost of silver coupled with high cost involved in the production of high purity of silver Sulphate for various applications is expected to pose restraint towards the growth of silver Sulphate market.
Silver Sulphate Market: Segmentation
Silver Sulphate Market can be segmented on the basis of Form –
Silver Sulphate Market can be segmented on the basis of end use industry:
Silver Sulphate Market: Regional Outlook
Asia Pacific region is expected to grow at significant rate during the forecast period which can be attributing to the growing population in the emerging countries like India, China etc. which is leading to the growth of the agriculture industry, food industry, pharmaceutical industry etc in region which is expected to drive the market.
North America and Europe region are expected to have increase in consumption silver Sulphate during the forecast period which can be attributed to the increase in disposable income of people which is leading to the increase in consumption of products containing Silver Sulphate for example in bandage which prevents the growth of bacteria, does not sticks to the skin thus accelerating the growth of silver market in both the regions.
Latin America and Middle East & Africa region is expected to grow at steady rate during the forecast period which can be attributed to the growing food industry in Latin America and agriculture industry in Middle East and Africa region is expected to fuel the silver Sulphate consumption during the forecast period thus leading the growth of silver Sulphate market.
Silver Sulphate Market: Market Participants
Examples of some of the market participants in the Silver Sulphate market are:
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