Rising Sodium Metal Consumption to Increase Sodium Metal Market Growth
SEATTLE, WA, USA, Jan. 21, 2022 /EINPresswire.com/ — Rising Sodium Metal Consumption to Increase Sodium Metal Market Growth, Sodium is a soft, silvery alkali metal that belongs to group 1 and has the chemical symbol Na. Electrolysis of molten caustic soda with little carbon and iron produces metallic sodium.
The global sodium metal market is estimated to be valued at USD 400.3 million in 2027 and is expected to grow at a CAGR of 4% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Sodium is a silvery-white metal. It is the most common alkali metal and the sixth most abundant element on Earth. Metallic sodium is produced from the process of electrolysis of molten caustic soda with little carbon and iron. In nuclear reactor, metallic sodium is used as a coolant and also has a wide range of applications in various end-use industries, such as metal, paper, glass, chemical, soap, petroleum and textiles, among others. Additionally, it is used to make artificial rubber. It is also used in the production of dyes, chemicals and pharmaceutical drugs. Sodium metal is used for the production of sodium borohydride, sodium azide, indigo and triphenylphosphine.
𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗧𝗢𝗖, 𝗚𝗿𝗮𝗽𝗵𝘀 & 𝗟𝗶𝘀𝘁 𝗼𝗳 𝗼𝗳 𝗼𝗳 𝗼𝗳 𝗼𝗳 𝗙𝗶𝗴𝘂𝗿𝗲𝘀 𝗙𝗶𝗴𝘂𝗿𝗲𝘀 𝗙𝗶𝗴𝘂𝗿𝗲𝘀 𝗙𝗶𝗴𝘂𝗿𝗲𝘀 https://www.coherentmarketInsights.com/insight/request-sample/3544
Major players operating in the global sodium metal market are American Elements, Shandong Moris Tech Co., Ltd., MSSA SAS, Wanji Holdings Group Limited Ltd, and Inner Mongolia LanTai Industrial Co., Ltd, among others.
Key Market Drivers:
Rising production of biodiesel is expected to augment the growth of sodium metal market over the forecast period. Sodium methylate is widely used for large-scale production of biodiesel. For example, according to the International Energy Agency (IEA), in 2020, global production of biofuels for transport is expected to be 144 billion liters, or the equivalent of 2,480,000 barrels per day (kb/d ). This in turn should increase the demand for sodium metal.
Additionally, the increasing use of sodium metal in nuclear reactors as a heat exchanger is expected to drive the growth of the sodium metal market. For example, in December 2021, TerraPower planned to build a prototype nuclear reactor in southwestern Wyoming. Using liquid sodium allows the coolant to operate at lower pressures and higher temperatures, improving system safety and efficiency, according to the U.S. Office of Nuclear Energy.
COVID-19 impact analysis:
Sodium metal is widely used in various end-use industries, such as metal, paper, chemicals, soap, petroleum, glass, and textiles, among others. But the COVID-19 outbreak has severely affected the above-mentioned industries as many projects around the world have been halted (in 2020) due to lockdown regulations, lack of funds and shortage of manpower. work. The pandemic has also affected production and demand, creating supply chain disruption. This in turn is expected to hamper the growth of the sodium metal market.
Key points to remember:
The sodium metal market is expected to grow at a CAGR of 4% during the forecast period owing to the increasing use of sodium metal in the pharmaceutical industry to produce drugs. For example, according to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is estimated at US$42 billion in 2021 and is expected to reach US$65 billion by 2024 and further expand to reach around 120 to 130 billion US dollars by 2030. .
Among the regions, North America and Asia-Pacific are expected to witness robust growth in the sodium metal market owing to rising consumption of sodium metal, growing demand for sodium metal, and investments to increase the production of sodium in these regions. For example, in January 2020, India is planning to build/open a new facility that will enable the country to produce high purity sodium metal on an industrial scale. The new plant will have a production capacity of 600 tonnes of sodium per year. In addition to its use in fast breeder reactors, high purity sodium will also be used in the manufacture of insecticides, synthetic detergents, dyes, vitamins and drugs.
𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 https://www.coherentmarketInsights.com/insight/request-pdf/3544
Sodium Metal Market insights will help companies across various industries to increase their revenue impact:
»Creation of a framework to evaluate the attractiveness of different products, solutions and technologies in the Sodium Metal market; help stakeholders identify key issues related to their strategies for consolidating the global sodium metal market; and deliver solutions.
» Sodium Metal: analysis of the market offer, as well as promising synergies for the best players looking to maintain their dominance in the market.
» Latest Market Research Sodium Metal Market Research is also available which covers over 20 countries and key categories and provides insights.
The study also includes insights and forecasts on sodium metal market drivers, trends, and influencing factors.
𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 :
➤ How does the economy deal with changes in the value of other firms?
➤ Who are the major players in the current market and what are their prospects for total sales growth?
➤ Which applications should perform well in the coming year?
➤ What are the Global Sodium Metal Market Trends, Challenges and Significant Competition?
➤ What are the main results and end effects of the industry strength analysis?
Key Reasons to Buy Sodium Metal Market Report:
➸ The report is packed with data including market dynamics and future prospects. The segments and sub-segments include quantitative, qualitative, value (million USD) and volume (million units) data.
➸ At regional, sub-regional and national levels, data on supply and demand forces and their impact on the market can be found.
➸ The competitive landscape has changed drastically over the past three years due to new developments, strategies and market share gains by key players.
➸ Companies that offer a variety of services, such as financial data, current events, SWOT analysis and strategy development.
!! 𝗚𝗲𝘁 𝗙𝗹𝗮𝘁 𝗨𝗦𝗗 𝟮𝟬𝟬𝟬 𝗢𝗙𝗙!!
Coherent Market Insights is a global market intelligence and advisory organization that provides syndicated research reports, custom research reports and advisory services. We are known for our actionable insights and genuine reports in various fields, including aerospace and defense, agriculture, food and beverage, automotive, chemicals and materials, and virtually any field and an exhaustive list of subdomains under the sun. We create value for our clients through our highly reliable and accurate reports. We are also committed to playing a leadership role in providing insight in various post-COVID-19 industries and to continuing to deliver measurable and sustainable results to our clients.
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