The global sodium dichromate market is anticipated to showcase significant growth in the coming years on account of the increasing demand for pigments from the construction industry. Sodium dichromate is a reddish inorganic sodium salt in the form of crystalline used for inhibiting corrosion and producing other chemicals. A recent report by Fortune Business Insights, titled, “Sodium Dichromate Market Size, Share & Industry Analysis, By Application (Metal Finishing, Pigments, Wood Preservative, Leather Tanning, Others) Others and Regional Forecast, 2019-2029,” offers a qualitative and quantitative analysis of the market and its growth parameters.
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The report offers a 360-degree overview of the market and discusses growth drivers, restraints, challenges, and upcoming opportunities. It also highlights the major industry developments of the market and other interesting insights into the market. Besides this, the report lists the names of players operating in the market and the names and figures of leading players with attributed factors. For more information on the report, log on to the company website.
Drivers & Restraints-
Increasing Demand for Pigments from Textile Industry to Propel Growth
Sodium dichromate is used as a pigment to transmit orange color to paints and fabrics that are further used in construction and textile industries. The increasing demand from textile and construction industries all over the world stands as a major factor propelling the sodium dichromate market growth. In addition to this, the color-fastening property of this product would help to increase its popularity, thereby aiding the expansion of the market.
On the contrary, sodium dichromate is carcinogenic in nature, meaning it can lead to cancer. Furthermore, human exposure to sodium dichromate may result in heritable genetic mutilation, blindness, impaired fertility, and damage to the unborn children. Nevertheless, the rising popularity of paints and coatings that use sodium dichromate as a solvent is propelling the demand from the building and construction sectors, thereby creating new growth opportunities for the market in the coming years.
The Market for Sodium Dichromate is categorized into the following:
The global sodium carbonate market is grouped on the basis of application and region. The application segment is further divided into leather tanning, wood preservative, metal finishing, pigments, and others.
North America Covered Major Share Owing to Increasing Demand for Preserving Wood
The global sodium dichromate market is categorized into five major regions, namely, Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Each of these regions is further categorized on the basis of nations. Among these, North America accounted for the largest sodium dichromate market share in 2018 on account of the increasing demand for preserving wood utilized in commercial spaces and residential buildings. The market in Europe will also showcase significant growth in the coming years on account of the need to establish visually compelling product packaging for various end use industries. Furthermore, the Asia Pacific market is likely to exhibit high demand from the leather industry as sodium dichromate is used for tanning application. India and China are the leading producers of leather and are therefore major contributors to the market growth.
Companies Focusing on Development of Advanced Version of Security Solutions to Stay Put in Competition
Players operating in the market for sodium dichromate are investing in research and development activities for innovative products so as to generate better revenue and gain a significant position in the market. Besides this, they are also engaging in collaborative efforts such as joint ventures, contracts and agreements, partnerships, and others to earn the top position in the market.
Some of the Key Players of the Sodium Dichromate Market include:
Chongqing Minfeng Chemical Co., Ltd.
Gansu Qiyuan Chromate Chemical Production Co., Ltd
Sichuan Yinhe Chemical Co., Ltd.
Soda Sanayii A.Ş.
Hebei Chromate Chemical Co. Ltd.
Nippon Chemical Industrial Co., Ltd.
Xinjiang Sing Horn Group
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