Sodium Ethylate Market: Introduction
The global sodium ethylate market is expected to witness lucrative growth in the coming future due to its extensive use in pharmaceutical application. Sodium ethylate, also known as sodium ethoxide, is a white-to-yellowish hygroscopic powder that dissolves in a polar solvent, such as methanol and ethanol. It is majorly used as a strong base in organic synthesis. Sodium ethylate decomposes and turns black on exposure to air and decomposes to sodium hydroxide and ethanol when dissolved in water. The commercial production process of sodium ethylate mainly composes of alkali and sodium method, wherein alkali method the raw material used is sodium hydroxide, and in sodium method, the raw material used is sodium metal. Sodium ethylate finds a wide variety of application in dyes & pigments, pharmaceuticals, pesticide synthesis, paints, varnishes and detergents. The global sodium ethylate market is expected to witness a growth in line with the GDP in the forecast period.
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Sodium Ethylate Market: Market Dynamics
The key growth driving factor for the sodium ethylate market is its increasing use in the pharmaceutical application. The global pharmaceutical industry is on the rise owing to consumer lifestyles, disposable income of consumers and rising spending power. This drives the demand for a number of pharmaceutical ingredients, of which sodium ethylate is a part. Sodium ethylate is used in the production of various pharmaceutical products, including phenytoin, acetophenone phenylbutazone, aminopterin, cetazine, pyrimethamine, pirafloxacin, tetracaine hydrochloride, etc. Further, sodium ethylate application in pesticide synthesis is also one of the key factors for the growth of sodium ethylate market globally. The global pesticides industry is growing due to the increasing global population, limited availability of land, and rising awareness on the use of pesticides. Hence, with the increase in the global pesticides market, the demand for sodium ethylate increases globally. However, the majority of sodium ethylate consumption is in the production of pharmaceutical intermediate; making it susceptible to various regulation and compliance, which could hamper the growth of the sodium ethylate market globally. Moreover, there is a great emphasis on the emerging country, such as China, on the production of sodium ethylate, which will bring new opportunities for the market to grow in the forecast period.
Sodium Ethylate Market: Segmentation
The global sodium ethylate market is segmented on the basis of end-use application and region.
Based on end-use application, the global sodium ethylate market is segmented as:
- Dye & Pigments
- Pharmaceutical intermediate
- Paint & Coating
- Pesticides synthesis
Pharmaceutical intermediate end-use application accounts for a share of around 40% – 45% in the global sodium ethylate market.
Based on region, the global Sodium ethylate market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
Sodium Ethylate Market: Regional Outlook
East Asia is estimated to account for more than 45% of the global sodium ethylate market as the majority of the producers of sodium ethylate is concentrated in this region. There are about 25 manufacturers in China, with a production capacity of more than 200-kilo tons per annum. In the South Asia region, sodium ethylate market is expected to witness a healthy CAGR in the forecast period due to the growing economy, and rise in the level of intellectual capital. In Europe, the sodium ethylate market will witness steady growth in the coming future due to the presence of one of the largest global producer in the region and heavy consumption and production of pharmaceutical intermediate in the region. In North America, the demand for sodium ethylate will be moderate as most of the product is imported from China and Europe. Other regions, such as Latin America and Middle East & Africa will witness a single-digit growth in the forecast period.
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Sodium Ethylate Market: Prominent market stakeholders
Key market stakeholders in the global sodium ethylate market are Evonik Industries, Zibo Changda Fine Chemical Co., Ltd. , Zibo Xusheng Chemical Co., Ltd., Shandong Xisace New Materials Technology Co.,Ltd and Yucheng Chuangxing Chemical Co., Ltd., among others. The sodium ethylate market consists of consolidated players with manufacturing facilities concentrated in the East Asia region. However, Evonik Industries remains one the largest global supplier of sodium ethylate globally and accounts for around 30% of the global sodium ethylate production.
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