H1 2023: Sodium Gluconate prices exhibited fluctuating patterns in Asia Pacific region in H1 2023. In February 2023, China and India witnessed increased demand from downstream industries. India had a market characterized by stable supply and moderate demand, while China experienced a bearish market with stable supply and low demand. and the declining prices, reflecting a subdued economic recovery post the Lunar festival. March 2023, there was an uptick in product demand in India and China, driven by a seasonal surge and positive outlook for economic recovery. This created a bullish market in India characterized by moderate to high demand and stable supply. In the second quarter of 2023, the Sodium Gluconate market in Asia witnessed a bearish trajectory primarily attributed to a reduction in demand from the downstream printing and metal treatment industry. Similarly, in the Indian market, Sodium Gluconate prices also saw a decrease till June. The presence of inflationary pressure resulted in heightened production costs, subsequently contributing to a diminished demand for the product in the Asian market. In the first quarter of 2023, the demand for Sodium Gluconate in North America was characterized by moderate to low levels. This subdued demand was influenced by sluggish economic activity, with continuous production adding to the prevailing trend. Although there was a slight improvement in the construction sector towards March 2023, due to the prolonged impact of inflationary pressure. In April, Sodium Gluconate prices in the US market hiked. The reduced inventory levels, consequently, drove an upswing in Sodium Gluconate prices in the US market. However, in the period of May-June, market sentiment for Sodium Gluconate became hazy, primarily attributed to economic instability and dwindling demand by the downstream sectors.
The global Sodium Gluconate market stood at approximately 680 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.65% during the forecast period until 2032. Sodium gluconate is a crystalline powder having attributes such as non-toxic, non-corrosive, biodegradable, and water-soluble. It also has exceptional chelating power and is used as a surface cleaning agent. In addition, the rising usage of the product in the food and beverage industry to remove bitterness from food items is anticipated to increase the product demand in the coming years.
Sodium gluconate, a sodium salt derived from gluconic acid, serves a multitude of applications across diverse industries. In the construction sector, it functions as a concrete admixture, enhancing workability and strength by acting as a water reducer and retarder. The cleaning industry leverages its chelating properties, incorporating sodium gluconate in detergents and soaps to prevent dirt redeposition. In the food industry, it acts as a sequestrant and stabilizer, controlling acidity and averting crystallization in various products. Pharmaceuticals utilize it as a chelating agent to enhance drug solubility. Water treatment benefits from its chelating properties, preventing scale formation and corrosion. Textiles employ it as a sequestrant in dyeing processes for consistent coloration. Its role extends to cosmetics, where it stabilizes formulations. Industrial cleaning relies on sodium gluconate to control scale and corrosion, while agrochemicals find it useful as a stabilizing agent. Additionally, it is employed in photography solutions for stabilization. This versatile compound, with its varied applications in concrete, cleaning, food, pharmaceuticals, water treatment, textiles, cosmetics, industrial cleaning, agrochemicals, and photography, exemplifies its adaptability and significance across numerous industries.
The construction sector is the key market driver of Sodium gluconate. Moreover, a substantial surge in the textile industry's demand for sodium gluconate, particularly in the cleaning and degreasing of fibers, stands out as a primary catalyst propelling the overall industry's growth. Sodium gluconate is a multifaceted compound with widespread applications driven by its unique properties. In water treatment, its chelating capabilities prevent scale formation and corrosion in pipes and industrial equipment, fostering demand in the water treatment sector. The compound's chelating and stabilizing features also position it as a crucial ingredient in cleaning products and detergent formulations, meeting the demand for effective cleaning solutions across industries. In the food and beverage sector, sodium gluconate serves as a sequestrant and stabilizer, controlling acidity and preventing crystallization in various products. Its role extends to pharmaceutical formulations, where it acts as a chelating agent, enhancing drug solubility and bioavailability. The compound's versatility and adaptability span diverse industries, including cosmetics, agrochemicals, and photography, contributing significantly to its overall market growth. The global Sodium Gluconate market size is anticipated to reach nearly 975 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Sodium Gluconate. The Asia Pacific region is strategically positioned for market dominance in Sodium Gluconate due to robust industrialization, notably in key players like China and India. This growth fuels heightened demand for Sodium Gluconate, particularly in the burgeoning construction sector, where it serves as a pivotal water-reducing agent and retarder in concrete applications. The region's escalating water treatment requirements, met effectively by Sodium Gluconate's chelating properties, further contribute to market ascendancy. Significant traction is also observed in the textile and detergent industries, prominent in the Asia Pacific, thereby amplifying market demand. The region's substantial and expanding population, coupled with economic expansion and supportive governmental infrastructure initiatives, positions it as a paramount player in driving Sodium Gluconate consumption. Favourable conditions, including streamlined access to raw materials and escalating urbanization, further reinforce the Asia Pacific's strategic advantage for persistent dominance in the Sodium Gluconate market.
Based on the end-user industry, the global Sodium Gluconate market is divided into Construction, Food & Beverage, Pharmaceuticals, Water Treatment, Textiles, and Others. However, Construction industry dominates the global Sodium Gluconate market followed by Food & Beverage industry. Construction industry held approximately 31% of the global Sodium Gluconate market in 2022.
Major players in the Global Sodium Gluconate market are Weifang Honghai, Shandong Fuyang Bio-Tech CO. LTD., Jungbunzlauer Suisse AG, Fermentation Products, Inc., Zhucheng Dongxiao Biotechnology Co., Ltd., Shandong Qilu Bio-Technology Group Co., Ltd., Shandong Kaison, and Qingdao Kehai.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Sodium Gluconate which covers production, demand and supply of Sodium Gluconate market in the globe.
• To analyse and forecast the market size of Sodium Gluconate
• To classify and forecast Global Sodium Gluconate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Sodium Gluconate market in the globe.
To extract data for Global Sodium Gluconate market, primary research surveys were conducted with Sodium Gluconate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Sodium Gluconate market over the coming years.
ChemAnalyst calculated Sodium Gluconate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Sodium Gluconate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Sodium Gluconate manufacturers and other stakeholders
• Organizations, forums and alliances related to Sodium Gluconate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sodium Gluconate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Sodium Gluconate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
680 thousand tonnes
Market size Volume in 2032
975 thousand tonnes
Growth Rate
CAGR of 3.65% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Construction, Food & Beverage, Pharmaceuticals, Water Treatment, Textiles, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Sodium Gluconate market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Sodium Gluconate.
3. Capacity By Location
To better understand the regional supply of Sodium Gluconate by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Sodium Gluconate by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Construction, Food & Beverage, Pharmaceuticals, Water Treatment, Textiles, and Others) are creating a market and the forecast for the growth of the Sodium Gluconate market.
7. Demand by Region
Analyzing the change in demand of Sodium Gluconate in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Sodium Gluconate. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Sodium Gluconate.
10. Company Share
Figure out what proportion of the market share of Sodium Gluconate is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Sodium Gluconate.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Sodium Gluconate in terms of volume in 2022?
Ans:
The global market size of Sodium Gluconate had reached approximately 680 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Sodium Gluconate?
Ans:
Asia Pacific region is the leading consumer of Sodium Gluconate globally.
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