The Sodium bicarbonate market is estimated to register a CAGR of 3.95% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Sodium bicarbonate market— Solvay, Tata Chemicals Ltd, CIECH Group, Şişecam and AGC Inc..
Sodium Bicarbonate Market Highlights
The Global Sodium bicarbonate Market Size was valued at USD 3,269.6 million in 2022. The Sodium bicarbonate Market industry is projected to grow from USD 3,387.3 million in 2023 to USD 4,457.4 million by 2030, exhibiting a compound annual growth rate (CAGR) of 3.95% during the forecast period (2023 - 2030).
Sodium bicarbonate is a fine white odorless powder with low water solubility and good acid neutralization characteristics. The pH of the chemical is 8.5 (1% aqueous solution, 25°C). Sodium bicarbonate has a molecular weight of 57.1 percent sodium, 27.4 percent oxygen, 14.3 percent carbon, and 1.2 percent hydrogen. Sodium bicarbonate is soluble in water and may be extracted by evaporation. It has a melting point of 50 °C and a boiling point of 851 °C. This chemical is insoluble in ethanol and methanol, but somewhat soluble in acetone and methanol.
It has one of the lowest alkalinity values of any sodium compound. It is found dissolved in many mineral springs as a component of the mineral natron. Its important features are a long shelf life, exact formulation, and non-toxic substances. It is mostly used as a leavening ingredient in baking, but it is also used to tenderize meat. When combined with water, it can be used as an antacid to treat acid reflux and heartburn. Because of its antibacterial characteristics, it is also commonly used in personal care products such as toothpaste and mouthwashes.
Segment Analysis
As per MRFR analysis, the global Sodium bicarbonate market has been segmented based on, grade, End-Use, and region.
The global Sodium bicarbonate Market segmentation, Based on grade, the global market has been divided into Feed, Food, Technical, Pharmaceutical. The food segment dominated the global market, accounting for largest share in 2022.
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Regional Analysis
By Region, the study segments the Sodium bicarbonate market into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The North America Sodium bicarbonate market holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period.
The global market owing to the easy availability of raw materials as well as increasing demand from the end-use industries such as automotive, construction, and others. Asia-pacific accounted for the second largest with a market share of xx% and valued at USD xx million. The growth is attributed to the growing automotive and coating industry in the region. Also, stringent government regulation in North America and Europe on the use of VOCs free products is boosting the growth in the region.
Key Findings of the Study
- The global Sodium bicarbonate market is expected to reach USD 139,975.8 million by 2030, at a CAGR of 3.95% during the forecast period.
- The North America region accounted for the fastest-growing global market.
- Based on grade, the food segment was attributed to holding the largest market in 2022.
- Based on End-use, the Agriculture segment was attributed to holding the largest market in 2022.
- Solvay, Tata Chemicals Ltd, CIECH Group, Şişecam and AGC Inc.
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Companies Covered | 15 |
Pages | 128 |
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