Friday, December 3rd, 2021

US Sodium Tungstate Market Uses, Price, Key Player, Analysis, Size, Type and Forecast Business Opportunities, Current Trends, Forecast by 2030

The global and US Sodium Tungstate Market is likely to grow at a notable CAGR between 2022- 2030, reveals the new Market Research Future (MRFR) report. Sodium tungstate (Na2WO4) is the sodium salt of tungstic acid. It is a crystalline powder that is white color or colorless and is water-soluble. This product acts as a fire proofing agent, catalyst, and analytical reagent. Sodium tungstate can be used to manufacture different chemical elements like dyes, tungsten acid, metal tungsten, and tungsten salts, to name a few. 

Owing to its alluring features and plentiful benefits, sodium tungstate has wide applications in various fields, including textile industry, glass industry, metal industries, chemical industries, and many others. Sodium tungstate in the medical field is used for treating as an anti-obesity and anti-diabetic agent. Its oral administration works as an active anti-diabetic agent. It works wonders to improve pancreatic function and beta-cell proliferation. On adipocyte biology, it has dual effects, that is, inhibition of adipogenesis and stimulation of cellular oxygen consumption. Besides, it is also utilized to develop different varieties of heteropoly acid color lakes, which are widely used in textiles, glasses, waxes, plants, and printing inks. Sodium tungstate is also used as a catalyst in paint dyes, pigment pharmaceuticals, and other forms of chemical reactions like epoxidation of alkenes and oxidation of alcohols into aldehydes or ketones. 

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Key Players

Key players profiled in the global and the US sodium tungstate market report include Yuanhang Tungsten, Ningxiang Changyi, Taizhou BangDe, HCstarck, Ganzhou Grand Sea W& Mo Group Co., Ltd, Kat-Chem Ltd, among others. Industry players have incorporated multiple strategies to cater to consumers’ burgeoning needs and also create a footprint in the market such as extensive R&D, new product development, partnerships, alliances, contracts, collaborations, and others. 

Various factors are adding to the global and the US sodium tungstate market share. These factors, as stated by the new MRFR report, include increasing applications, growing medical industry, increasing use as anti-obesity and anti-diabetic agents, and growing demand in the textile, glass, metal, medical, and chemical industries. 

On the contrary, fluctuations in raw material prices and availability are the factors that may limit the global and US sodium tungstate market growth over the forecast period. 

Market Segmentation

The Market Research Future Report provides an inclusive segmental analysis of the global and US sodium tungstate market based on channel participants and applications. 

By applications, the global and US sodium tungstate market is segmented into permanent chemical modifier, catalyst, anti-obesity agent, and anti-diabetic agent. 

By channel participants, the global and US sodium tungstate market is segmented into medical industry, metal industry, glass industry, research laboratories, chemical industry, textile industry, and others. 

Regional Analysis 

Based on region , the global and US sodium tungstate market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Among these, North America is likely to spearhead the market over the forecast period for the increasing number of diverse and large manufacturing industry trends for tracking GDP. The United States is a raising market for the chemical industry in its entirety and is also the largest chemical exporter. Besides, the re-industrialization trend is also adding market growth in the region. 

 

The global and US sodium tungstate market in Europe is predicted to have significant growth over the forecast period. Italy & Germany are the major contributors in the region. Innovation in chemical industries and growth & development of large scale industry is also adding market growth in the region. 

 

The global and US sodium tungstate market in the APAC region will grow at a fast pace during the forecast period and that in the MEA will have a steady growth. 

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