Sodium Metal Market
The sodium metal market is estimated to be valued at USD 320.3 Mn in 2024 and exhibit a CAGR of 6.7% over the forecast period 2024-2031. Sodium metal is a soft silvery white metallic element which is highly reactive. It has a melting point of 98°C and it boils at 883°C. Sodium metal easily reacts with oxygen and water to form sodium oxide and sodium hydroxide respectively. It is highly combustible in the presence of air and must be stored under oil or inert gas to prevent contact with air. Major applications of sodium metal include in sodium-vapor lamps, sodium-sulfur batteries, dyes and chemicals, glass manufacturing and textiles. Sodium metal is also used as reducing agent in organic synthesis and metallurgy.
Market Dynamics:
Sodium metals market growth is driven by growing applications of sodium metal batteries for energy storage applications. Sodium sulfur and sodium ion batteries are gaining traction for large scale energy storage due to low cost of sodium compared to lithium. Additionally, growing glass and detergent industry is also fueling the demand for sodium metal in the manufacturing of sodium hydroxide. However, high costs associated with the production of sodium metal due to complex process and safety hazards during production and storage is a major challenge. Development of safe and economical production techniques can help in overcoming this challenge. Furthermore, growing research in sodium ion batteries for electric vehicles also presents new opportunities in coming years.
Key features of the study:
- This report provides in-depth analysis of the global sodium metal market and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global sodium metal market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Inner Mongolia LanTai Industrial Co., Ltd, Wanji Holdings Group Limited Ltd, MSSA S.A.S., Shandong Moris Tech Co., Ltd., and American Elements
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global sodium metal market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sodium metal market
Market Segmentation
Market Segmentation
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