Denim clothes and biodiesel should drive the sodium metal market
Rapid economic growth in developing countries across the world with the subsequent rise in per capita income is expected to boost the overall growth for global textiles and apparels during the next eight years. The demand for denim cloth has shown a marked increase and sodium metal is one of the primary raw materials used to manufacture indigo dyes. Indigo dye is useful in the dyeing of cotton yarn along with manufacturing denim clothing. The growth of denim cloth is predicted to be especially strong in the APAC economies of China and India and this should certainly benefit the global sodium metal market in its wake.
The rise in worldwide biodiesel production is anticipated to be one of the key factors propelling the growth of the global sodium metal market. Biodiesel production needs both esterification and trans-esterification processes. Sodium methylate is one of the most commonly used catalysts for large-scale production of biodiesel and it comprises a significant portion of the overall global biodiesel production. Sodium methylate is either produced with sodium hydroxide or sodium metal that is further treated with methanol to create sodium methoxide. Sodium methylate production should show a steady growth throughout the forecast period.
APAC has a dominant share of the market and is expected to remain so
Asia Pacific accounted for more than half the revenue share of the global sodium metal market in the year 2015, and it is predicted to dominate for the rest of the forecast period. A growing demand for sodium should help the global sodium metal market with a greater application in the dyeing, metallurgical and chemical end use industries. Asia Pacific will gain a substantial 170 BPS in the global sodium metal market till the end of the year 2024. The CAGR by value for the APAC region will be 4.4%, while the CAGR by volume will be 3.7% for the period 2016-2024. The consumption of sodium metal in this highly dynamic region was nearly 52,000 metric tons in the year 2015. This is expected to be more than 71,000 metric tons by the year 2024. An incremental dollar opportunity of more than US$ 55 Mn will be generated during the eight year forecast period.
The APAC country market to keep an eye on is China, followed by India and Japan
China is the largest market in the APAC sodium metal market and it alone is roughly worth 80% of the total value share in the continent. The China sodium metal market was roughly US$ 140 Mn in 2016 and this should rise to slightly above US$ 193 Mn in the year 2024, representing an incremental dollar opportunity of more than US$ 50 Mn. The highest CAGR on the other hand, in both value and volume terms is forecast to be in India with 4.8% and 4.1% respectively. As China and India continue to rise, the relative importance of Japan will continue to drop in the APAC sodium metal market. However, the Japan sodium metal market should still present an incremental dollar opportunity of nearly US$ 2 Mn during the period 2016-2024.
North America is essentially the U.S. sodium metal market
It would not be an exaggeration to call the North America sodium metal market the “U.S. sodium metal market” as the U.S accounts for almost 98% of the market share of the North America sodium metal market. Not only does the country currently account for a lion’s share of the regional market; it is also poised to show a healthy CAGR of 3.6% by value and 2.9% by volume. An incremental dollar opportunity of nearly US$ 20 Mn can be reasonably expected in the U.S. sodium metal market. Chemical synthesis will be the most important application segment in the North America sodium metal market as it currently comprises more than 60% value share and it is likely to remain so during the period of study.
Persistence Market Research in its report titled ‘Sodium Metal Market: Global Industry Analysis and Forecast 2016 - 2024’ has conducted a comprehensive study of the global sodium metal market by estimating critical metrics such as CAGR, Y-o-Y growth projections, absolute dollar opportunity as well as incremental dollar opportunity. On the basis of these, an idea of where the global sodium metal market currently stands in terms of performance can be derived along with where it is anticipated to reach at the end of the eight year period (2016-2024). A number of acronyms have been used throughout the global sodium metal market report and several assumptions have been made to provide report readers with a 3600 view of the global sodium metal market.
Best-in-Class Research Methodology
Persistence Market Research has deployed a truly unique, best-in-class research methodology to profile the global sodium metal market. The company first conducts extensive primary and secondary research that helps formulate a discussion guide. This is after thorough interaction with both specialists and industry experts. The data is then validated using the triangulation method wherein primary and secondary research data and Persistence Market Research expert analysis are combined to create the final output. The final output is then scrutinized with minute precision using advanced proprietary tools to obtain qualitative as well as quantitative insights into the global sodium metal market.
The global sodium metal market has been studied by dividing it into five geographic regions viz. North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Basis Points Share (BPS), Y-o-Y growth projections and the market revenue size and volume forecast of major countries in every region has been indicated. The global sodium metal market report also studies specific regional trends by application. If an industry player wishes to only target one or two high-growth regions of the globe, they can refer to this informative section to make strategic investment decisions. Another section analyzes the global sodium metal market on the basis of the overall market volume, pricing analysis and absolute dollar opportunity analysis. The industry value chain highlights the intricate relationship between sodium metal manufacturers, suppliers and distributors, and end users on the basis of various end use applications such as chemical, pharmaceutical, metallurgical, and dye applications.
The global sodium metal market report begins with a succinct executive summary. It mentions the revenue at the end of the year 2016 as well as the expected market value by the end of 2024. The CAGR, the segment predicted to account for the largest share of the global sodium metal market on the basis of application along with the most dynamic region follow the revenue figures. The highlights are provided in an easy-to-understand format for those readers pressed for time. Differentiating strategies that could greatly benefit key stakeholders in the global sodium metal market are specified in the report. The definition and application of sodium metal has been focused upon in the global sodium metal market report introduction. Some of the major applications are pharmaceuticals, metal refining and chemical synthesis in particular. The global sodium metal market taxonomy has also been provided herein.
The market dynamics section of the global sodium metal market report talks about the drivers (both supply and demand), restraints, trends as well as the relevance and impact of key market dynamics on the global sodium metal market. Capacity expansion and consolidation is anticipated to be the name of the game in the global sodium metal market going forward. The forecast factor analysis has given relevant weightage to each factor and highlighted the level of impact it should have on the global sodium metal market.
Companies wishing to enter the global sodium metal market should be aware of the competitive landscape. The global sodium metal market report has a section dedicated to the competition dashboard that profiles key players operating in the global sodium metal market. A general overview, important financial metrics, products, strategies and recent company developments have been provided so that new entrants are armed with the power of knowledge when they plunge into this hyper-competitive environment of the global sodium metal market.