[FURL=https://www.industryarc.com/Research/Sodium-Tungstate-Market-Research-501533?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Sodium Tungstate Market[/FURL] Sodium Tungstate market size is forecast to reach US$1.1 billion by 2026, after growing at a CAGR of 2.3% during 2021-2026. Sodium tungstate (Na2WO4), also known as sodium wolframate and disodium tetraoxotungstate is an inorganic compound with the formula Na2WO4. Tungsten ores are treated with sodium compounds such as sodium hydroxide or sodium carbonate to produce them. It's a white solid with a crystalline structure and a water-soluble nature. It's used in the epoxidation of alkenes and the oxidation of alcohols to aldehydes or ketones as a catalyst and also as fuel cell electrode material. It's also used to test serum protein and serum protein-free filtrate, as an alkaloid precipitating agent, and to make metal tungsten, tungstate, tungsten oxide, waterproof fabric, and fireproof fabric.Key Takeaways
North America dominates the sodium tungstate market. The escalating chemical, medical and textile industry in North America is expected to benefit the sodium tungstate industry growth in the region.
The global diabetes prevalence in 2019 is estimated to be 9.3% (463 million people), rising to 10.2% (578 million) by 2030 and 10.9% (700 million) by 2045. This increase in diabetes patients will bolster the growth of the sodium tungstate market as it is being used as an anti-diabetic agent.
Furthermore, sodium tungstate is used in manufacturing various types of heteropoly acid color lakes that are then used in printing inks, plants, waxes, glasses, and textiles. These vast applications of sodium tungstate will also flourish its market growth.
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Sodium Tungstate Market Segment Analysis – By Geography
North America region held the largest share in the sodium tungstate market in 2020 up to 37% and is estimated to grow at a CAGR of 5.2% during 2021-2026. The textile, chemical, and medical industry is flourishing in the region, which is accelerating the demand for sodium tungstate in the region. For instance, according to the Government of Canada, the pharmaceutical and medicine manufacturing subsector is a significant contributor to chemical manufacturing, accounting for over a third of its workers and more than a quarter of its sales. Since 2014, average sales for this subsector have been steadily increasing. In addition, between 2016 and 2017.
Sodium Tungstate Market Drivers
Significant Demand from the Metal Industry
Increasing Textile Industries
Sodium Tungstate Market Landscape
Sodium tungstate market top companies are Kat-Chem Ltd, Ganzhou Grand Sea W& Mo Group Co., Ltd, Yuanhang Tungsten, HCstarck, Taizhou BangDe, Ningxiang Changyi, Alpha Chem, Nova Oleochem, Yuanhang tungsten, Taizhou BangDe and others
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