Sodium dichromate is the chromium compound most importantly used as the beginning material for the manufacturing of any chromium compounds synthetically. The sodium dichromate has a plethora of applications in various industries and sectors such as dye and textile industry, fashionable leather accessories industry, building and construction sector, and automobile sector providing a momentum to the growth of the sodium dichromate market. The sodium dichromate plays an intermediate role in the industrial use of chromium compounds.
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Applicability In Various Industries And Reduction In Prices Amps Up The Demand
Increasing demand for pigments from infrastructure and textile industries in the developing regions is anticipated to propel the growth of the global sodium dichromate market. Rising disposable income, changing consumer preferences, and changing trends in leather fashion accessories increased the demand for leather products in the leather fashion industry. The sodium dichromate is used for tanning of leather products due to which the appearance and shelf life of the products increases. Such factors are responsible for the rise in demand for the sodium dichromate market. The consumption of sodium dichromate in the various industries such as electrical, defense, automotive, construction, and aerospace to make the metal parts corrosion resistant. Its utilization in making wood preservatives, due to its requirement in infrastructure projects such as decking, and utility fencing is expected to fuel the growth of the global sodium dichromate market. Additionally, rising demand for sodium dichromate in the manufacturing of chemicals, textile dyes, wax, paints, coatings, vitamin K, ceramic glazes, and colored glass using chromium compounds propels the expansion of the global sodium dichromate market.
Potential Health Hazard And Maturity Of The Market Hampers The Growth Rate
Due to the environmental threats of sodium dichromate compounds market witness a significant fall in demand for the product. The sodium dichromate is considered as potentially harmful element to the human health and animals if exposed directly. It irritates eyes and skin and also categorized as a human carcinogen, which could develop lung cancer, and can damage the immune system, kidney, respiratory tract, and gastrointestinal system. This is a major factor restricting the growth of the global sodium dichromate market.
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Sodium Dichromate Market Segmentation
Sodium Dichromate market can be segmented based on raw materials, type, application, and distribution channel.
- Based on grade type, sodium Dichromate market is segmented into:
- First grade
- Second grade
- Third grade
- Other
- Based on type, sodium Dichromate market is segmented into:
- Calcium Roasting
- Calcium-free Roasting
- Other
- Based on application, sodium Dichromate market is segmented into:
- Preparation of chromium compounds
- Metal Finishing
- Leather tanning
- Pigment
- Wood preservative
Sodium Dichromate Market Regional Outlook
Geographically, the sodium Dichromate market has been classified into seven regions, including North America, Latin America, Europe, Asia Pacific, Oceania, and the Middle East and Africa. North America is expected to dominate the global sodium Dichromate market. Asia Pacific region is anticipated to be a developing market for the global sodium Dichromate market, and to register the highest CAGR over the forecast period, due to increasing demand for pigment products in the market. The European region is expected to witness a significant rise in the global sodium Dichromate market during the forecast period. Latin America has witnessed stable outgrowth in the sodium Dichromate market share. Middle East & African region has shown enhanced growth in the sodium Dichromate market.
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Sodium Dichromate Market Key Players
The companies need to suffer high environmental compliance costs and increase the economy of scale to remain profitable in this market. Moreover, the sodium dichromate market faces a very low threat from new entrants as it is at a maturity stage, so there is very less possibility of new players entering into the sodium dichromate market. However, the rising demand for sodium dichromate and chromium compounds in the developing regions fuel the growth of the sodium dichromate market.
- Vishnu chem
- NPCC
- Minfeng Chem
- Aktyuninsk
- Nipon Chem
- Soda Sanayii
- Lanxess
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