An Incisive, In-depth Analysis on the Sodium Bicarbonate Market
This study offers a comprehensive, 360 degree analysis on the Sodium Bicarbonate market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Sodium Bicarbonate market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The sodium bicarbonate report covers comprehensive information about value (US$ Mn) and volume (KT) of the concerned market. In addition, the report covers trends and market dynamics which include drivers, challenges and opportunities, competition landscape and recent developments in the global sodium bicarbonate market for the period between 2018 and 2028.
The global sodium bicarbonate market is estimated to reach US$ 2,443.1 Mn by the end of the forecast period and is expected to expand at a CAGR of 3.7% for the period 2018–2028. The factors responsible for this positive growth of sodium bicarbonate market are increasing demand from industrial and pharmaceutical sectors, growing disposable income and favorable socioeconomic trends.
Demographic Changes and Pharmaceuticals Industry Growth
Increasing growth in industrial sector and population and demographic changes are the prime factors responsible for the positive growth of the sodium bicarbonate market across the globe. The extension of government health programs in developing countries is also expected to have a positive impact on the growth of the sodium bicarbonate market during the forecast period.
In terms of industrial growth, the flue gas desulphurization industry is experiencing positive growth and is expected to continue to experience the same in the coming years as well.
Growing Demand from Hemodialysis Segment
In the recent past, changing lifestyle and food habits in developing as well as developed regions have resulted in several life style diseases, such as cardiovascular dieses, chronic kidney diseases and diarrhoea, among others. In developed countries, such as U.S. and EU-5, exposure to these diseases is high, which, in turn, is leading to increase in healthcare expenditure.
In case of chronic kidney diseases, kidney functions improperly and its ability to filter blood decreases significantly, which over the period of time leads to end-stage renal diseases (ESRD).
According to the Global Burden of Disease Study/National Kidney Foundation, kidney diseases ranked 18th in 2010 in the list of causes of death worldwide and rose to the 12th position in 2015 and accounted for around 1.1 million deaths in 2015.
According to the National Kidney Foundation, ~10-12 % of the population suffers from chronic kidney diseases and only 2 Mn are being treated at the moment. This number is projected to increase significantly over the coming years
Treatment of ESRD patients can be done either through kidney transplantation or dialysis. However, across the globe, due to shortage of kidney donors and medicinal constraints, i.e. proper matching of donor and patient’s medicinal aspects, the rate of kidney transplantation is very less as compared to dialysis. Thus, most of ESRD patients are treated through dialysis. Among dialysis types, around 90% of the patients prefer Hemodialysis, while the rest of the share goes for peritoneal dialysis
In 2014, over 1 lac ESRD patients registered for transplantation, among which only 17,105 kidneys donor were available in the U.S.
In Hemodialysis, sodium bicarbonate is an important raw material. This will lead to increased utilization of pharmaceutical grade sodium bicarbonate over the coming years.
Growing Demand for Antacids Medicines Is Likely to Be a Key Factor Affecting End-Product Sales Pattern and Market Growth
Antacids are popular over-the-counter medicines. As pharma grade sodium bicarbonate is an active ingredient in some antacids and tablets, the market is anticipated to see growth during the forecast period and awareness pertaining to the preventive medicine care and product availability is also expected to play a crucial role.
Increasing Number of Desulphurization Projects in the Near Future
Growth in the number of desulphurization projects across the world is expected to create immense opportunities for sodium bicarbonate manufacturers. For instance, North America is planning an additional desulphurization project in the coming future. Thus, the demand for sodium bicarbonate will increase due to such projects.
Sodium Bicarbonate Market – Competitive Dashboard
The global sodium bicarbonate market is highly consolidated. Tier 1 players in the sodium bicarbonate market are estimated to hold more than fifty percent of market value share by 2018 end.
Since the last couple of years, the sodium bicarbonate market has witnessed significant developments from a competition perspective. Key players are actively planning to introduce new grades in the food category segment. On the basis of strategies, key players are actively participating in capacity expansions, acquisitions and collaborations to expand and sustain in the global sodium bicarbonate market.
Key players from Tier 1 category of sodium bicarbonate market are focusing on increasing their market value share by entering into numerous strategic partnerships and joint ventures with regional key players. However, some of the regional key players in the sodium bicarbonate market are focusing on entering into long-term associations with end-users to ensure continuous revenue flow
Some of key players are focusing on product innovations and developments in the sodium bicarbonate market and plan to introduce new grades to gain maximum regional share
The Online distribution channel is an alternative strategy adopted by key players to strengthen market presence in global as well as regional markets
Some of the prominent players covered in this study on the sodium bicarbonate market are Tata Chemicals, Solvay SA, CIECH S.A., Novacarb (Novacap Group), GHCL Limited, Dr. Paul Lohmann GmbH KG, Jost Chemical Co., Natural Soda LLC and Tornox Alkali Corporation, among others.
Sodium Bicarbonate Market: Report Description
This FMI study offers a ten-year analysis and forecast for the global sodium bicarbonate market between 2018 and 2028. The study considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration between 2018 and 2028. The Compound Average Growth Rate (CAGR) has been represented from 2018 to 2028. The study covers various perspectives of the sodium bicarbonate market, including value chain, sodium bicarbonate pricing analysis, market dynamics, regional & segmental comparison of industry growth analysis with macro-economic factors and competition analysis. As per the findings of the sodium bicarbonate study and perspectives of industry participants, the global sodium bicarbonate market is expected to grow at a CAGR of 3.7% between 2018 and 2028 in terms of value.
This Future Market Insights report analyzes the sodium bicarbonate market at a regional and global level through market segmentation on the basis of key parameters such as type and application. The key objective of the study is to offer opinions on the market trends, market updates, competition positioning, growth rate, market potential and other relevant information and statistics in a suitable manner to the stakeholder or readers in the sodium bicarbonate market.
Sodium bicarbonate is a white to light brown, minutely crystalline powder that has the chemical formula NaHCO3 or CHNaO3. The IUPAC name of sodium bicarbonate is sodium hydrogen carbonate and it is commonly known as baking soda.
The report has been organized in such a way that readers gain a clear understanding of the sodium bicarbonate market study. The report starts with basic market definitions, followed by market background, market dynamics – which include drivers, restraints and current trends in the sodium bicarbonate market. In addition, the report includes market analysis on the basis of key segments with regional analysis and a competition dashboard. Every segment of the report covers quantitative and qualitative information of the sodium bicarbonate market.
Sodium Bicarbonate Market: Segmentation
In order to estimate the market size, the weighted average price of sodium bicarbonate based on grades such as food & feed, pharmaceutical and industrial across key geographies on a country basis has been considered. The forecast assesses the total revenue (US$ Mn) and volume (KT) of the global sodium bicarbonate market.
To present an accurate forecast of the sodium bicarbonate market, we have started by estimating the current market size, which develops the basis of how the global sodium bicarbonate market is anticipated to grow in the coming future. All the quantitative and qualitative data has been developed through in-depth primary and secondary research. Furthermore, this data is then triangulated on the basis of different verticals, considering both, the demand-side and supply-side of numerous regional markets, along with the primary interviews with industry experts and key manufacturers operating in the global market. Moreover, the sodium bicarbonate market has been examined and authenticated with reference to the regional as well as global markets. The forecast presented in the report evaluates the actual cost of sodium bicarbonate in the global sodium bicarbonate market over the forecast period.
During the study, we have studied all the related segments of the global sodium bicarbonate market in terms of basis point share (BPS) to understand each individual segment’s relative influence to the sodium bicarbonate market growth. This comprehensive level of information is important for categorizing the various trends governing the global sodium bicarbonate market. The report also analyses the absolute dollar opportunity of the global sodium bicarbonate market. While this usually overlooked, from a sales point of view, it is essential to help readers identify the potential resources in the sodium bicarbonate market.
FMI has developed a market attractiveness analysis index to understand the key segments on the basis of their growth and performance in the global sodium bicarbonate market. This market attractiveness analysis index would help clients categorize real market opportunities in the global sodium bicarbonate market.
Some of the key manufacturers in the global sodium bicarbonate market are Solvay SA, Tata Chemicals, Novacarb (Novacap Group), Dr. Paul Lohmann GmbH KG, GHCL Limited, CIECH S.A., Natural Soda LLC, Jost Chemical Co. and Tornox Alkali Corporation, among others.