Impact of COVID-19 on Sodium Dichromate Market Size 2020: Research, Analysis, Trends And Opportunities For The Forecast By 2023
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.
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.
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.
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.
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.
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