Sodium Dichromate Market Research 2022-2030
The global sodium dichromate market is anticipated to grow at a healthy CAGR between 2022-2030, states the new Market Research Future (MRFR) report. Sodium dichromate, simply put, is an organic, crystalline compound which upon heating, emits toxic fumes. It is a strong oxidizing agent that is highly corrosive. The sodium dichromate formula is Na2Cr2O7, while the sodium dichromate color is orange to red. Sodium dichromate is mainly utilized for producing other chromium compounds yet is also utilized as corrosion inhibitors, in organic chemicals and dyes production, in wood preservatives, in metal treatments, and drilling muds. With the raw material changes and future capacity growth, the sodium dichromate price is likely to be in decline trend.
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Numerous factors are adding to the growth of the global sodium dichromate market. These factors, according to the latest Market Research Future report, include extensive use in manufacturing mud drilling, paints and coatings, vitamin K, wax, wood preservatives, pigments and leather tanning, its indispensability to manufacture different compounds that contain chromium, booming building construction industry, use of sodium dichromate as a chief ingredient in the production of chrome sulphate, and rising per capita income. Additional factors adding to the growth of the sodium dichromate market include increasing use to manufacture colored glasses ceramic glazes, increasing use of sodium dichromate in the textile dyeing and printing industry, changing fashion trends, growing population, and growing demand from the defense, electrical, automotive, and aerospace industry.
On the contrary, exposure to sodium dichromate may cause irritation to the eyes and skin. Besides, it is a human carcinogen that is likely to affect the lung causing cancer. These factors may restrict the global sodium dichromate market growth during the forecast period.
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Market Segmentation
By application, the global sodium dichromate market is segmented into wood preservatives, metal finishing, leather tanning, pigments, and others.
Regional Analysis
By region, the sodium dichromate market report covers the latest trends and growth opportunities across Europe, the Asia Pacific (APAC), Latin America, North America, and the Middle East and Africa (MEA). Among these, the APAC region will dominate the market during the forecast period. Numerous factors are adding to the growth of the sodium dichromate market in the region, such as strong economic performance, rapid industrialization, rising infrastructure, and rising preference for eco-friendly products, particularly pigments from India as well as China.
In North America, the global sodium dichromate market research will have healthy growth during the forecast period. Numerous factors are adding to the growth of the sodium dichromate market in the region, such as the increasing need for wood preservatives in residential and commercial use alike, expanding textile industry, and burgeoning demand for colored paper.
In Europe, the global sodium dichromate market will have favorable growth during the forecast period. Numerous factors are adding to the growth of the sodium dichromate market in the region such as the introduction of latest printing technology known as RGB, approval from EU at REACH Committee of using sodium dichromate in conversion coating and passivation of circular rectangular connectors and increasing demand for food packaging due to significant increase in the working-class population coupled with busy lifestyle in developing economies.
In the Middle East Africa as well as Latin America the sodium dichromate market will have moderate growth during the forecast period.
Key Players
Notable players profiled in the sodium dichromate market report include Vishnu Chemicals (India), Nippon Chemi-Con Corporation (Japan), Soda Sanayii (Turkey), Lanxess (Germany), Elementis plc (UK), Sichuan Chemical Group Co., Ltd (China), Tianjin Mingyang Chemistry Industry Co., Ltd (China), Yin He Holdings Limited (Hong Kong), Gansu Qiyuan Chromate-Chemical Production Co., Limited (China), and Haining Peace Chemical Co., Ltd (China).
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Industry News
August 2019: LANXESS, leading specialty chemical company in Germany, has recently signed an agreement with Brother Enterprises. The former will sell the Chinese leather chemicals company its chrome chemicals business. LANXESS has two sites in South Africa, with the one based in Newcastle manufactures sodium dichromate that is proceeded into chromic acid partially.
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