What is the global market size of Sodium Bicarbonate Market?

Sodium Bicarbonate Market size was valued at USD 1.35 billion in 2021 and is poised to grow from USD 1.42 billion in 2022 to USD 2.03 billion by 2030, at a CAGR of 5.2% during the forecast period (2023-2030).

Sodium Bicarbonate Market Size, Share, Growth Analysis, By Grade(Food, Pharmaceutical, Technical), By Form(Slurry, Crystal, Liquid), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2274 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 63 | Figures: 77

Sodium Bicarbonate Market News

In December 2023, Solvay announced a partnership with ENOWA, NEOM's energy and water company, to develop the world's inaugural carbon-neutral soda ash production facility in NEOM, Saudi Arabia.
In December 2023, the European region is poised to see a significant rise in the prices of Sodium Bicarbonate, a vital ingredient in several industries, notably the baking sector. This surge in demand for Sodium Bicarbonate is linked to increased baking activities preceding the festive season, which continues into January for celebrations like New Year's and Epiphany.
In June 2023, the United States exported approximately 541,000 tons of sodium carbonate, experiencing a decrease of -12.2% compared to the previous month. Despite this decline, exports have shown a relatively stable trend. The most significant growth occurred in May 2023, with a month-to-month increase of 37%, reaching a peak of 616,000 tons before declining in the following month. June 2023 witnessed a slight decrease in U.S. sodium carbonate exports, totaling $180 million.

Sodium Bicarbonate Market Report Snapshots

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Global Sodium Bicarbonate Market size was valued at USD 1.42 billion in 2022 and is poised to grow from USD 1.49 billion in 2023 to USD 2.24 billion by 2031, at a CAGR of 5.2% during the forecast period (2024-2031).

The competitive landscape for the sodium bicarbonate market gives information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. 'Tata Chemicals Limited (India)', 'Solvay SA (Belgium)', 'Church & Dwight Co., Inc. (United States)', 'Novacap Group (France)', 'Ciech S.A. (Poland)', 'Tosoh Corporation (Japan)', 'Natural Soda LLC (United States)', 'FMC Corporation (United States)', 'Natrium Products Inc. (United States)', 'Tronox Limited (United States)', 'Eti Soda (Turkey)', 'Genesis Energy, L.P. (United States)', 'Yuhua Chemical Group Co., Ltd. (China)', 'Ciner Resources Corporation (United States)', 'Sisecam Group (Turkey)', 'Zhejiang Jiande Jianye Chemical Co., Ltd. (China)', 'Qingdao Soda Ash Industrial Co., Ltd. (China)', 'Tianjin Bohua Yongli Chemical Industry Co., Ltd. (China)', 'Searles Valley Minerals (United States)', 'Mid-Kansas Cooperative (United States)', 'DCW Limited (India)', 'Soda Sanayii A.S. (Turkey)'

Sodium bicarbonate is used in agriculture as a pH regulator and soil amendment to enhance crop yields. It helps neutralize acidic soils and improves nutrient availability for plants. In animal feed, sodium bicarbonate is added to improve digestion, reduce acidosis in ruminants, and enhance feed efficiency.

Growing Application Scope in Diverse Industries : Sodium bicarbonate is finding new applications in various industries beyond its traditional uses. For example, in the energy sector, sodium bicarbonate is being utilized in carbon capture and storage (CCS) technologies to reduce greenhouse gas emissions. Additionally, sodium bicarbonate is finding applications in the cosmetics industry, including natural deodorants, exfoliating scrubs, and hair care products. The expanding application scope in different sectors is driving the demand for sodium bicarbonate.

The North American market, which in turn accounts for 20% of the global market share. The dominance of North America in the sodium bicarbonate market can be attributed to the presence of major players in the region, such as Solvay, Church & Dwight, and Natural Soda. These players have a strong distribution network and a wide range of products, which helps them to cater to the needs of a large customer base.

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Sodium Bicarbonate Market Size, Share, Growth Analysis, By Grade(Food, Pharmaceutical, Technical), By Form(Slurry, Crystal, Liquid), By Region - Industry Forecast 2024-2031

Sodium Bicarbonate Market News

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