India Sodium Bicarbonate market will reach 73.33 million US$ by the end of 2024

Publisher: QYResearch
Published Date: 2019/9/26

The India sodium bicarbonate consumption market was 191K MT valued at USD 57 Million in 2018. Forecasts suggest the market to grow at a CAGR of 3.97% through to 2024, driven primarily by Feed and food industry. The region is poised to dominate both the production and consumption of sodium bicarbonate in the years to come. Overall, the sodium bicarbonate products performance is positive with the India economic recovery.

The technical barriers of sodium bicarbonate are not high, resulting in numerous manufacturing enterprises. In sodium bicarbonate market, there are several relatively larger companies across the globe, such as Solvay, Church & Dwight, Natural Soda, Novacarb, Tata Chemicals, Inner Mongolia Yuanxing, Yuhua Chemical, Qingdao Soda Ash,Most of the American giants did not export to India.
Among them, tata chemical is the largest account of half of the Indian market.

Sodium bicarbonate has a wide range of application in the pharmaceutical industry, food additive industry, feed industry, flue gas treatment, person care products, cleaning agent, deodorizer, cosmetics, and other fields. Affected by downstream industries, demand for Sodium bicarbonate is expected to continue increasing during the remaining years of the forecast period of 2019-2024. Sodium bicarbonate industry will usher in a stable growth space.

Over the forecast period to 2024, India consumption is expected to continue to increase, but at a slower growth rate of about 4% per year. The largest part of demand growth will be in feed markets; accordingly, companies like tata chemical and GHCL have reacted by investing in additional capacity in the region, mostly for specialty products.

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