Sodium Dichromate Market Summary
As per Market Research Future Analysis, the global Sodium Dichromate Market is witnessing significant growth driven by its applications in various industries such as metal finishing, pigments, wood preservatives, and leather tanning. The increasing demand for pigments in the textile and infrastructure sectors, particularly in developing economies like India, is expected to propel market growth. The Indian textile industry is projected to reach USD 230 billion by 2020, contributing to the rising consumption of sodium dichromate. Additionally, the construction sector's growth and the rising population in Asia Pacific are further boosting demand. However, health concerns related to sodium dichromate, classified as a human carcinogen, may pose challenges to market expansion. The market is segmented by application and region, with key players including Elementis plc, Soda Sanayii, and Lanxess among others.
Key Market Trends & Highlights
The Sodium Dichromate Market is characterized by several key trends and highlights.
- The Indian textile industry is expected to reach USD 230 billion by 2020, driving demand for sodium dichromate.
- Rising demand for wood preservatives is projected to propel market growth due to its applications in utility fencing and decking.
- National emission standards imposed by the U.S. EPA may restrict sodium dichromate production, impacting market dynamics.
- The growth of the construction sector in Asia Pacific is expected to significantly boost sodium dichromate consumption.
Market Size & Forecast
| Market Size | USD 1.5 Billion |
| Forecast Period | 2024-2032 |
| Expected CAGR | 5.2% |
Major Players
Key players in the Sodium Dichromate Market include Elementis plc (U.K), Soda Sanayii (Turkey), Lanxess (Germany), Nippon Chemi-Con Corporation (Japan), and Vishnu Chemicals (India).
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