SODIUM MOLYBDATE MARKET ANALYSIS

Sodium Molybdate MarketSize and Trends

Market Outlook

• Growing industrialization is leading to the discharge of wastewater and harmful chemicals in the ecosystem. Stringent government regulations associated with the environmental safety and water disposal is increasing adoption of chemical and water treatment solutions.
• According to United Nations Industrial Development Organization’s (UNIDO) report published in 2017, global Manufacturing Value Added (MVA) was valued at US$ 11.9 trillion in 2015, and is anticipated to increase further in near future. Furthermore, emerging economies such as China and India recorded the fastest growth with India shifting from 14^th position in 2005 to 6^th position in 2015, in the ranking of world’s largest manufacturing industry. Expanding manufacturing production is creating higher demand for water treatment solutions. Subsequently, increasing the demand for sodium molybdate in near future.
• The increasing cost of raw material and toxicity of sodium molybdate is predicted to hamper the market growth. However, rising demand for high-performance pigments & dyes from infrastructure and textile industry coupled with increasing awareness towards healthy and dietary supplement are major drivers for the market growth. Sodium molybdate is found in dietary supplements and is a good source of molybdenum. Escalating applications of sodium molybdate in various applications such as seed and water treatment is projected to upsurge the demand from end-use industries.