Report : Asia Pacific Sodium Bicarbonate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Grade (Food Grade, Pharmaceutical Grade, Feed Grade, and Technical Grade and Others), Form (Powder and Liquid), and End User (Food & Beverages, Pharmaceutical, Agriculture, Chemical, Cosmetic & Personal Care, Textile & Leather, Homecare, and Others)
At 4.8% CAGR, the Asia Pacific Sodium Bicarbonate Market is speculated to be worth US$ 906.99 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific sodium bicarbonate market was valued at US$ 684.58 million in 2022 and is expected to reach US$ 906.99 million by 2028, registering an annual growth rate of 4.8% from 2022 to 2028. Growing focus on treatment of industrial pollutants and proliferation of cosmetics and personal care industries are the critical factors attributed to the market expansion.
The volume of wastewater discharged into the environment has become a genuine concern with rapid demographic changes, economic developments, urban growth, and increased population density. The disposal of untreated or poorly treated wastewater pollutes natural environments, and the repetitive discharge can turn out to be catastrophic for biodiversity and water resources. To address these issues, regulations on water quality have been tightened to protect the environment. In Australia, sustainable water management is more than a priority. Due to the limited runoff, erratic rainfall, and unpredictable climate changes, managing water resources is an essential part of life in the country. There is a high focus on following the best wastewater management practices at national and local levels. As cities are growing, there is a growing focus on reusing wastewater. Sodium bicarbonate is an important material used in controlling pH, alkalinity, and purification process in water treatment facilities.
Various industrial activities lead to elevated air pollution levels with adverse effects on human health. The governments around the world are involved in planning the correct strategies aimed at improving air quality. Sodium bicarbonate finds application in the treatment of acidic flue gases. Flue gas treatment revolves around reducing the quantities of pollutants that are emitted when fossil fuels are burnt at a power plant, an industrial facility, or any other place. Thus, a growing focus on the treatment of industrial pollutants is predicted to offer lucrative opportunities for the growth of the APAC sodium bicarbonate market during the forecast period.
On the contrary, environmental impact of sodium bicarbonate hurdles the growth of Asia Pacific sodium bicarbonate market.
Based on grade, the sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. The technical grade and others segment held 44.2% market share in 2022, amassing US$ 302.70 million. It is projected to garner US$ 403.09 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on form, the sodium bicarbonate market is bifurcated into powder and liquid. The former held 82.7% market share in 2022, amassing US$ 566.00 million. It is projected to garner US$ 743.94 million by 2028 to expand at 4.7% CAGR during 2022–2028.
By the end user, the Asia Pacific sodium bicarbonate market is further segmented into food and beverage, pharmaceutical, agriculture, chemical, cosmetic and personal care, textile and leather, homecare, and others. With 25.0% share of the domain, the food and beverage segment dominated the market in 2022. It accrued US$ 171.11 million in 2022 and is estimated to generate US$ 232.22 million by 2028 to grow at a CAGR of 5.2% over the forecast period.
Our regional analysis states that China captured 48.2% market share in 2022. It was assessed at US$ 329.73 million in 2022 and is likely to hit US$ 450.17 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.
Key players dominating the Asia Pacific sodium bicarbonate market are AGC Inc.; All Chemical Manufacturing & Consultancy Pty Ltd; Church & Dwight, Inc.; Ciech S.A.; GHCL Limited; Pon Pure Chemicals Group; Sişecam; Solvay S.A.; and Tosoh Corporation among others.
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