Global Study on Sodium Metal Market: MEA Region Expected to Witness Significant Value and Volume Growth Between 2016 and 2024

The sodium metal market should be driven by denim clothing and biodiesel.

Rapid economic expansion in developing countries around the world, along with an increase in per capita income, is predicted to drive global textiles and apparels growth over the next eight years. Denim cloth has seen a significant growth in demand, and it is one of the key raw materials used to make indigo colours.

Indigo dye is used in the dyeing of cotton yarn as well as the production of denim garments. Denim cloth growth is expected to be particularly robust in the APAC economies of China and India, which will undoubtedly boost the worldwide sodium metal market.

One of the primary drivers driving the global market's growth is expected to be an increase in biodiesel production. Esterification and trans-esterification processes are required for biodiesel manufacturing. Sodium methylate is one of the most widely used catalysts in large-scale biodiesel production, accounting for a major share of global biodiesel output.

Sodium methylate can be made from sodium hydroxide or sodium metal, which is then processed with methanol to form sodium methoxide. Sodium methylate production is expected to increase steadily over the projection period.

In 2015, Asia Pacific accounted for more than half of the global sodium metal market's revenue, and it is expected to continue to do so for the remainder of the forecast period. With more applications in the dyeing, metallurgical, and chemical end use industries, an increasing demand for sodium should help the global market. Until the end of 2024, Asia Pacific will gain a significant 170 BPS in the global market.

For the period 2016-2024, the APAC region's CAGR by value will be 4.4 percent, while the CAGR by volume will be 3.7 percent. In 2015, roughly 52,000 metric tonnes of it were used in this extremely dynamic region. By 2024, this is predicted to reach more than 71,000 metric tonnes. During the eight-year estimate period, an additional dollar opportunity of more than US$ 55 million will be generated.