“The market size of North America’s potassium bicarbonate was reported at more than USD 500 Mn in 2019”, says Visiongain
15 October 2019
Visiongain’s new report the North America Sodium Bicarbonate Market Report 2020-2030: Forecasts by By Application (Chemicals, Agriculture, Animal Feed, Food, Pharmaceuticals, Cleaning Products, Water Treatment, Flue gas desulfurization, Others) By Country (U.S., Canada, Mexico), and analysis of leading companies operating in this industry. Additionally, the North America Sodium Bicarbonate market study will be assessed on the basis of Value Chain Analysis, Porter’s Five Forces Model, SWOT Analysis, and PESTEL.
The market size of North America's potassium bicarbonate was reported at more than USD 500 million in 2019. It is expected that the industry will be powered by increasing supply from end-use sectors such as eat, meat, chemicals, pharmaceuticals, and water treatment. In addition, powerful public assistance for R&D is a significant consideration projected to boost the industry to improve the breadth of implementation. Due to the large-scale supply produced from apps such as meat (mostly used as a leavening product) and livestock feed (as the ruminal pH buffer), the industry has seen a steady growth pace in North America in latest years. As of 2019, these two apps represented a proportion of more than 50.0 percent of the overall industry in North America.
Market prices of products are mainly dependent on soda ash manufacturing. Soda ash rates have risen in the latest period, according to the USGS. Animal feed and meat are the two main products in the U.S., Canada, and Mexico that generate significant requirement for sodium bicarbonate. The region's increasing animal feed sector is probable to spur further requirement for the item in the years to come. It is also expected that other industries, such as flue gas desulfurization, washing goods and pharmaceuticals, will add significantly to the economy.
The industry was segmented by implementation into chemicals, farming, animal feed, meat, pharmaceuticals, washing products, water treatment, desulfurization of flue gas, and others. Animal feed appeared as the biggest and highest increasing section in 2019, representing a market share of over 25 percent, tightly accompanied by the meat implementation section.
Also in the pharmaceutical industry, sodium bicarbonate is commonly used as an active pharmaceutical ingredient (API). It is used to produce multiple pharmaceutical drugs such as analgesic pills, formulations of antacid gel, vitamin supplies, effervescent antacids, and powders. Many family item producers use it as a main component because of its gentle abrasive, grease slicing, and odor neutralizing characteristics. As a result, the cosmetic products category is anticipated to experience steady growth in the coming years owing to its processing characteristics and alkalinity.
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