Global Sodium Gluconate Market Foresees a Sluggish Road in the Foreseeable Future, with an expected CAGR of 3.5% until 2034, predict FMI’s Analysts

The increasing utilization of sodium gluconate in various industries, including printing, textile dyeing, detergents, metal surface water treatment, and personal care products, is expected to positively impact market demand. The market for sodium gluconate in the United Kingdom is expected to grow at a CAGR of 2.6% from 2024 to 2034.

/EIN News/ -- NEWARK, Del, July 09, 2024 (GLOBE NEWSWIRE) -- The sodium gluconate market is predicted to be valued at USD 621.8 million by 2024. The market valuation is estimated to be USD 877.2 million by 2034, projected at a CAGR of 3.5%.

One significant driver of the sodium gluconate industry is the versatile applications across various industries. Stringent regulations promoting the use of eco-friendly and sustainable ingredients in consumer products further propel the demand for sodium gluconate, propelling the market growth.

Despite its widespread applications, the sodium gluconate industry faces certain restraints. One significant restraint is the availability of alternative chemicals with similar functionalities at lower costs. Competing products such as citric acid and phosphates offer comparable performance in various applications, posing a challenge to sodium gluconate manufacturers.

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Regulatory constraints regarding the use of sodium gluconate in certain applications, such as food and pharmaceuticals, can restrict market expansion and pose compliance challenges for industry players.

As environmental concerns and sustainability initiatives gain prominence, a growing demand for green alternatives in chemical manufacturing can be seen. Manufacturers can capitalize on this trend by investing in renewable energy sources, adopting green chemistry principles, and implementing efficient waste management practices to produce sodium gluconate sustainably.

Fluctuations in raw material prices, particularly for glucose, a key precursor in sodium gluconate production, can impact production costs and profit margins for manufacturers. Economic downturns and geopolitical tensions can disrupt supply chains and market demand, posing threats to sodium gluconate market growth.

Key Takeaways from the Market Study

• Based on form, the liquid is accounted to hold a market share of 56.3% in 2024.
• The United States is expected to register at a CAGR of 1.4% by 2034.
• The United Kingdom registers significant growth, projected at a CAGR of 2.6% by 2034.
• Based on the end-use, the construction segment is accounted to hold a market share of 35.6% in 2024.

“The expanding construction activities globally, particularly in emerging economies, propel the demand for sodium gluconate as a concrete admixture, contributing to market growth,” Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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Competitive Landscape

In the sodium gluconate market, key players like Roquette, Jungbunzlauer, and Merck KGaA dominate with their extensive product portfolios and global presence. The companies leverage innovation and strategic partnerships to maintain market leadership.

Niche players and regional manufacturers focus on specialized applications, fostering competition and innovation. The market is characterized by a mix of established giants and emerging contenders vying for market share.

Some of the key developments are

In 2023, Jungbunzlauer Suisse AG launched a sodium gluconate product line featuring enhanced purity and quality standards, meeting stringent regulatory requirements and industry standards for food, pharmaceutical, and personal care applications.

In 2023, Zhucheng Dongxiao Biotechnology Co., Ltd unveiled a breakthrough in sodium gluconate production technology, implementing innovative process improvements to enhance production efficiency and reduce environmental impact.

Leading Sodium Gluconate Industry Players

• Shandong Fuyang Bio-Tech CO.LTD
• Fermentation Products, Inc.
• Jungbunzlauer Suisse AG
• Zhucheng Dongxiao Biotechnology Co., Ltd
• Shandong Qilu Bio-Technology Group Co., Ltd.
• Weifang Honghai
• Shandong Kaison
• Qingdao Kehai
• Xiwang Group
  
  

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More Valuable Insights Available

Future Market Insights offers an unbiased global sodium gluconate market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the sodium gluconate market is segmented based on Form (liquid, powder), End-use (construction, paint and coating, food and beverages, textile, water treatment, and others), Application (coating and construction, cleaning agent, metal treatment, textile and leather treatment, and others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)

About the Chemicals and Materials at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

Authored By

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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