Sodium Dichromate Market Information: By the Application (Metal Finishing, Pigments, Wood Preservative, Leather Tanning and Others), and Region: Forecast Till 2023
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Market Overview
The Global Sodium Dichromate Market is predicted to grow at a healthy CAGR over the forecast period (2016-2023), states the new Market Research Future (MRFR) report. Sodium dichromate is an inorganic, crystalline compound that is orange to red in color which upon heating emits toxic chromium fumes. It is a strong oxidizing agent which is highly corrosive. Sodium dichromate is widely used for producing other chromium compounds as well as in wood preservatives, metal treatments, drilling muds, as a corrosion inhibitor, and in the production of organic chemicals and dyes.
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Various factors are propelling the sodium dichromate market growth. These factors in accordance to the MRFR report, include its growing use in the printing and textile dyeing industry, extensive use for manufacturing ceramic glazes and colored glasses, increase in per capita income, and used as a key ingredient in chrome sulphate production. Additional factors pushing market growth include growing building and construction industry, the indispensability of sodium dichromate to manufacture various chromium containing compounds, and wide usage in leather tanning, manufacturing of pigments, wood preservatives, wax, vitamin K, paints and coatings, and mud drilling.
On the contrary, sodium dichromate is classified as a human carcinogen that may result in lung cancer and may also cause irritation to the skin and eyes, which in turn may deter the sodium dichromate market growth during the forecast period.
Market Segmentation
The MRFR report provides a complete segmental analysis of the sodium dichromate market on the basis of application.
Based on application, the sodium dichromate market is segmented into leather tanning, wood preservatives, pigments, metal finishing, and others.
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Key Players
• Tianjin Mingyang Chemical Industry Co.Ltd
• Gansu Qiyuan Chromate-Chemical Production Co.Limited
• Haining Peace Chemical Co.Ltd
• Vishnu Chemicals
• Sichuan Chemical Group Co.Ltd
• Yin He Holdings Limited
• Nippon Chemi-Con Corporation
• Lanxess
• Soda Sanayii
• Elementis plc
Key players are adopting various strategies to strengthen their position in the market such as collaborations, research and development, innovations, partnerships, acquisitions and mergers, and others. Also includes Size, Share, Segmentation, And Forecast Period.
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Regional Analysis
By region, the Sodium Dichromate Market report covers the latest trends and growth opportunities across the Europe, the Asia Pacific (APAC), Latin America, North America, and the Middle East and Africa (MEA). Of these, Asia Pacific will dominate the market over the forecast period. This is owing to increasing preference from India as well as China for environmentally-friendly products, especially pigments. Moreover, rising infrastructure and rapid industrialization, along with strong economic performance, are also boosting the market growth in the region.
The Sodium Dichromate Market in North America is predicted to have a notable growth over the forecast period. This is owing to the growing demand for color paper, the growing textile industry, and burgeoning demand for wood preservatives both in commercial and residential use.
The Sodium Dichromate Market in Europe is predicted to have significant growth over the forecast period. This is owing to the growing demand for food packaging in the region owing to a considerable rise in the busy lifestyle and working-class people, especially in developing economies. Moreover, the introduction of new printing technology called RGB is also boosting the market growth. Through this, images can be printed directly on the black substrate. Besides, the use of sodium dichromate has received approval from EU at REACH Committee, in passivation of rectangular and circular connectors and conversion coating.
The Sodium Dichromate Market in Latin America and also the Middle East and Africa are predicted to have moderate growth over the forecast period.
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Latest News:
August 2019: Brother Enterprise, a leading Chinese chemicals manufacturer, will acquire LANXESS, a renowned specialty chemical company based in Germany. Both the companies have signed an agreement. LANXESS has two sites based in South Africa, one in Newcastle and one in Mere bank. The former site manufactures sodium dichromate that is processed into chromic acid partially, while the latter produces chrome tanning salts from sodium dichromate. Brother Enterprises will acquire the plant based in Newcastle, which employs 220 people.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Sodium Dichromate Market
5 Industry Overview Of Global Sodium Dichromate Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Contact Info:
Name: Abhishek
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Organization: Market Research Future (MRFR)
Website: https://www.marketresearchfuture.com/reports/sodium-dichromate-market-5754
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