$6.7 Billion Worldwide Sodium Bicarbonate Industry to 2027 - Impact of COVID-19 on the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 15, 2020--
The “Sodium Bicarbonate - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The publisher brings years of research experience to the 7th edition of this report. The 199-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Sodium Bicarbonate Market to Reach $8.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Sodium Bicarbonate estimated at US$6.7 Billion in the year 2020, is projected to reach a revised size of US$8.4 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027.
Animal Feed, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$1.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Food and Beverage segment is readjusted to a revised 4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 6.2% CAGR
The Sodium Bicarbonate market in the U.S. is estimated at US$1.8 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Industrial Segment to Record 3.2% CAGR
In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 4% CAGR through the analysis period.
Competitors identified in this market include, among others:
- AGC Chemicals
- Church & Dwight Co., Inc.
- Solvay SA
- Tata Chemicals Limited
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Sodium Bicarbonate Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 46
For more information about this report visit https://www.researchandmarkets.com/r/iqfwkz
View source version on businesswire.com:https://www.businesswire.com/news/home/20201215005883/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 12/15/2020 11:26 AM/DISC: 12/15/2020 11:26 AM