Global Sodium Tungstate Market Size – Industry Trends & Forecast Report 2027
The global sodium tungstate market size was calculated to be USD xx billion in 20xx and is expected to take a surge at a CAGR of xx% till 2027 with an approximate value of USD xx till the forecast year. The propelling force that would support this market growth is surely going to be the medical industry. As the number of increasing COVID cases and other health-related issues arising geriatric population in recent decades. Therefore, the growth of the global sodium tungstate market is driven by an increase in demand for antidiabetic and anti-obesity agents in the rapidly growing medical industry.
Global Sodium Tungstate Market Overview
Sodium Tungstate, having the formula Na2WO4. It is an inorganic compound. The sodium salt of tungstic acid is a colorless or white color crystalline powder. It is a water-soluble compound. It acts as an analytical reagent, catalyst, fireproofing agent. It could be used in manufacturing multiple chemical elements such as tungsten salts, metal tungsten, tungsten acid, and dyes. It is a medium that helps in the conversion of tungsten ores to metal or usable materials. The wide applications of the sodium tungstate have led it to have a diversified market and hence to have many end-user industrial applications. The sodium tungstate is a known effective agent as an anti-diabetic. When taken orally.
Because sodium tungstate acts as a catalyst for epoxidation of alkenes and oxidation of alcohols into aldehydes or ketones. Additionally, its effects have been found with human cells. Having an association to stimulation of cellular oxygen consumption and inhibition of generation of fat cells from stem cells. The solution of sodium metatungstate is also used in density separation and is widely applicable because they’re less toxic than other agents.
Global Sodium Tungstate Market Forecast and Trends
An array of applications in Medical science and related
As the world population is increasing. There’s been constant focus given to achieving a healthy and long life. With the increasing world obesity and related problems, the focus of many health and medical-related researchers has gone to find a solution from the root itself. Where the role of sodium tungstate has drawn a lot of attention. Its properties which include the inhibition of the generation of fat cells among others has played as the base for many conducted scientific experiments, trials, etc.
The sodium tungstate is also known to be used extensively in blood biochemistry and analysis. As the precipitation of protein by tungstic acid is maximal and filtrates are clear for serum, plasma, and blood when the pH of the filtrate is 5.1 or less, which are used in the purification of the blood. Altogether, its characteristics with respect to diabetes have also been a big breakthrough for diabetes controlling research and related advancements. All of this will accelerate the growth curve for the market of sodium tungstate in the forecast period.
Sodium tungstate as permanent chemical modifier
Sodium tungstate helps in various industry settings. One such is being a permanent chemical modifier. The use of a permanent chemical modifier helps with increasing graphite tube lifetime. It eliminates volatile impurities during the thermal coating process, decreases the detection limits, and reduces the total heating cycle time. Eventually, minimizing the high purity chemical consumption. Now, this property is significantly helpful in the slurry sampling electrothermal atomic absorption spectrometric determination of indium in soils. Consequently, propelling the growth of the relevant market.
Impact of COVID 19 on Global Sodium Tungstate Market
Covid 19 has affected the market worldwide on various levels. It has surely put a lot of unexpected pressure on the market of various sectors and services. The sodium tungstate market is affected by the fact that the global market is concentrating on supplying the medical, healthcare, and related supplements, due to the pandemic. The market for procurement of elements, fuel cells, fireproofing, and other sodium tungstate related industries are at a stall. Or having a very steep business due to the slow/no manufacturing, dropping budgets and undercuts, lesser workforce. But the constant requirement of medical support (diabetic and blood purification) done, which is catered by the Sodium Tungstate has kept the market a little stable. Although a more detailed analysis would be given in the report.
Global Sodium Tungstate Market Segmentation: By Grade
The market of sodium tungstate is segmented on various parameters. The foremost of them is the grade. The sodium tungstate has grades, according to which it is used on several fronts, applications, etc. The grades are present in the categories such as ACS Reagent, Technical Grade, Grade I (99.55%), Grade II (98.5%). The ACS Grade or American Chemical Society Grade represents the purity standards, which is generally equal to or more than the set standards by the ACS itself. This grade has purity (≥95%), which is acceptable for food, drug, or medicinal use, and is suitable for use in many laboratory and analytical applications. Then the technical grade, the compound quality which falls under this grade is not as pure and has other chemicals, compounds mixed with it. Then comes Grade I, followed by Grade II. with having consecutively lesser purities. According to the market requirements and popularity, the ACS grade sodium tungstate is used. Due to high purity levels, it is safer to consume. And has the maximum effects, all of this owns the biggest share in the relevant market.
Global Sodium Tungstate Market Segmentation: By Application
Based on the application, it is divided into Antidiabetic agent, Anti-Obesity agent, Catalyst, Permanent Modifier, Fuel Cell Electrode Material, and lastly as Fire Proofing Agent. The major shares are owned by the Antidiabetic and Anti-obesity market. Because of the factors such as the increasing geriatric population, growing health issues, and obesity among the urban people. Has led to even higher demand for Antidiabetic agent and anti-obesity agent making them the top-grossing application of the sodium tungstate compound among others.
Global Sodium Tungstate Market Segmentation: By End-User Industry
The end-user industry of the global sodium tungstate market is divided into Metal Industries, Research Labs, Textile Industry, Medical & Healthcare Industry, Glass Industry, etc. All the end-user industries mentioned are the ones, which require the sodium tungstate as a raw material for delivering the final product. Now in terms of the highest market share, it is owned by the medical & healthcare. Because of the developments, advancements being made with medical science and the number of increasing health-related issues (especially diabetes and obesity) amongst populations.
Global Sodium Tungstate Market: Regional Insights
According to the regional analysis, the global Sodium Tungstate market has the highest growth in North America. Because of large growths that take place in that region’s manufacturing rate in the healthcare and related industries. We can conclude by analyzing the GDP and industry trends in America that it’s going to raise the largest value for the overall chemical industry. And as per the study, North America is expected to represent 80% of all the chemical market within the next 10 years. Moreover, the very trend of re-industrialization is one of the major factors for the growth of the Sodium Tungstate Market.
The major companies of the Sodium Tungstate market are Chem-Met, Nova Oleochem, Alpha Chem, Nithyasri Chemicals, HC Starck, Anchor Chemicals, Ganzhou Grand Sea W& Mo Group Co., Ltd, Taizhou BangDe, SAJAN OVERSEAS, Yuanhang tungsten, Ningxiang Changyi, Zaoqiang, Jinying, Taizhou and Rundong.
Scope of the Report
Historical data – 2016-2019
Base Year – 2020
Forecast – 2020 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia.
By Grade, By Application, By End-User Industry, By Region
The major companies of the Sodium Tungstate market are Chem-Met, Nova Oleochem, Alpha Chem, Nithyasri Chemicals, HC Starck, Anchor Chemicals, Ganzhou Grand Sea W& Mo Group Co., Ltd, Taizhou BangDe, SAJAN OVERSEAS, Yuanhang tungsten, Ningxiang Changyi,and Zaoqiang Jinying, Taizhou Rundong among other prominent players.
Scope of the Report
Ø By Grade
● ACS grade reagent
● Technical grade
● Grade I (99.5%)
● Grade II (98.5%)
Ø By Application
● Antidiabetic agent
● Permanent chemical modifier
● Fuel electrode material
● Fire proofing agent
Ø By End-User Industry
● Metal industry
● Research labs
● Textile Industry
● Medical & Healthcare Industry
● Glass Industry
Ø By Region
● Asia Pacific
● North America
● Middle East & Africa
● Latin America