Global Sodium Alginates Market Report and Forecast 2024-2032

Global Sodium Alginates Market Outlook

The global sodium alginates market is expected to grow at a CAGR of 4% in the forecast period of 2024-2032 to reach a value of approximately USD 274.58 million by 2032.

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Europe to Provide Enhanced Growth Opportunities for the Sodium Alginates Industry Expansion

Europe is expected to provide significant growth opportunities for the expansion of the sodium alginates industry in the forecast period. The growth can be attributed to the thriving textile industry in the region, which accounts for a significant share of the global textile industry. For manufacturers and distributors, the region is likely to remain an attractive market due to the growing product demand from various end-use industries, particularly textiles. Textile and printing and dyeing industries are emerging as leading consumers of the product, while the stringent safety regulations regarding its utilisation in food and pharmaceutical applications are impeding the growth of the food-grade sodium alginates. Meanwhile, the Asia Pacific is expected to witness a steady growth owing to the increasing demand for sodium alginates in emerging economies like China and India. The low cost of raw materials, the growing textile industry, and the burgeoning growth of the food and pharmaceutical sector are boosting the product demand in the region.

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Sodium Alginates: Market Segmentation

Sodium alginate is a gum mainly extracted from the cell walls of brown algae. It is the sodium salt of alginic acid and is represented by the formula NaC6H7O6. It has good chelating properties. Many of the Phaeophyceae class brown seaweeds are harvested across the world to be processed and converted into sodium alginate. Sodium alginate has applications in many industries, including food, animal food, textile printing, pharmaceuticals, and others.

The major applications of sodium alginates include:

• Stabilizer
• Thickener
• Gelling Agent
• Emulsifier
• Others

Based on end uses, the industry can be segmented into:

• Food and Beverage
• Pharmaceuticals
• Textile
• Pulp and Paper
• Coating
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand from New End Use Sectors, Particularly Textile, to Propel the Sodium Alginates Industry Growth

Sodium alginate is used as a thickener and emulsifier in food as well as pharmaceutical industries, and both the sectors occupy a significant share of the total market value. However, the demand for food grade sodium alginate in expected to decrease in the coming years owing to the availability of safer alternatives like natural gums, corn starch, and others. Thus, the sodium alginate manufacturers are turning to other end-use sectors and are developing the product for use in a wide range of applications. The rising demand for technical grade sodium alginate, particularly from textile, and pulp and paper industries are significantly contributing to the industry growth. Within the textile industry, sodium alginate serves as an integral ingredient for use in various procedures like warp sizing and dyeing pastes. The growing demand for bio-based fibres and favourable chemical properties of sodium alginate, which are superior to starch, are driving the demand for the product in the textile industry. Moreover, the rapid technological advancements and growing R&D activities are expected to further aid the industry growth in the forecast period.

Key Industry Players in the Global Sodium Alginates Market

The report gives a detailed analysis of the following key players in the global sodium alginates market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• J. Rettenmaier & Söhne GmbH + Co KG
• KIMICA Corporation
• Zibo Wangfei Seaweed Tech. Co., Ltd.
• Qingdao Gfuri Seaweed Industrial Co., Ltd.
• Meron Group
• SNP, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report