Sodium Selenite Market Size, Share, Growth, and Industry Growth by Type (Feed Grade, Industry Grade, Food Grade, and Others), By Application (Feed Additives, Food, Glass, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Sodium Selenite Market REPORT OVERVIEW

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The global sodium selenite market size was USD 57 million in 2021 and is projected to touch USD 247.23 million by 2031, exhibiting a CAGR of 15.9% during the forecast period.

Sodium selenite is an inorganic compound which has a formula of Na₂SeO₃ is the most common water soluble selenium compound. It is a colorless inorganic salt derived from selenium compound and is created through chemical reaction of sodium hydroxide and selenium dioxide. The solid state salt has the similar properties to sodium sulfate salt. They are used to neutralize green impurities during manufacturing of colorless glass. They have no color but as they are dissolved in the glass mixture, they turn pink in color counteracting the green color and making the glass colorless.

The application of sodium selenite is applied in the food and beverage industry as a food ingredient in dietary supplements as it provides an ample amount of minerals and multivitamin. It is also used in the glass industry in manufacturing activities to make colorless glass. It is also used in the healthcare industry to treat diabetes and also provides mechanical and technical activities for heart preparations. The demand comes from the glass industry, food industry, and feed additives, and more.

COVID-19 Impact: Halt on Various Industries to Hamper Market Growth  

The effects of the COVID-19 pandemic are already being felt on a global level, the global sodium selenite market is noticeably influenced due to disruptions. In 2020, COVID-19 had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. The demand for this type of sodium comes from various industries such as food, beverage, glass, and many more. Halting of such various industries impacted the demand for the market product simultaneously. Stopping of operations, supply chain restrictions, and labor shortage led to a gap in demand and supply of the product.

LATEST TRENDS

"Pharmaceutical Applications to Push Market Increase"

Pharmaceutical applications are expected to increase the growth of the global sodium selenite market. The new and growing applications of selenium in the pharma industry due to antioxidant properties. It is a component of glutathione peroxidase enzyme which helps in the protection of cell components from oxidative damage. It has been demonstrated to prevent cancer in various animal models, efficacy in preventing malignancy utilizing selenium supplement in humans. It is used in making supplements with different levels for growth, nutrients, and weight. These new and growing applications can propel the market growth by posing as new opportunities.

Sodium Selenite Market SEGMENTATION

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• By Type

According to type; the market is divided into feed grade, food grade, industry grade, and others.

Industry grade holds the majority of the type segment.

• By Application

Based on the application; the market is divided into feed additives, glass, food, and others.

Glass holds the majority of the application segment.

DRIVING FACTORS

"Pesticides and Glass Industries to Drive Demand for Product"

The global sodium selenite market growth is anticipated to rise due to its uses in glass and pesticides. In the glass industry, it is used in coloring and decoloring. It is used to add pinkish and in removing green colors. The glass has wide ranging applications and uses in end-use industries such as electronics, building and construction, consumer goods, and automotive. Growing spending in new construction and renovation activities is anticipated to push demand for glass and steel. They are also used as an insecticide, to control mites, mealybugs, and aphids. It is also used as a fungicide. Such consumption can drive the market demand in this market.      

"Product Application as a Supplement to Increase Demand"

The demand is growing rapidly due to its use as a supplement. Sodium selenite is used as a supplement for poultry and livestock. It is used with other minerals such as zinc, iodine, copper sulfate, and magnesium hydroxide to combat deficiencies that can occur if these such trace elements are not supplemented through diet only. It also affects reproduction and immune function so it can be recommended due to its health benefits.

RESTRAINING FACTORS

"Strict Rules and Regulations to Hamper Market Growth"

There are a number of factors that can push the growth of the market. Restraining factors such as strict rules and regulations on use of such chemical compounds. High concentration of sodium selenite can create obstacles for usage. Excessive use can lead to skin rashes, abnormal functioning of the nervous system, and solenosis. These factors are expected to reduce the demand for the product in the market.

Sodium Selenite Market REGIONAL INSIGHTS

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"North America to Govern Market Due to Growing Industrial Uses"

North America holds the largest part of the global sodium selenite market share as it is dominantly used in livestock and poultry. Industrial grade uses glass production and food grade applications. It is widely used as a dietary supplement in food and beverages. Canada, Mexico, and the U.S. are the key regions of the market. They are also used in production of breads, cakes, and other foods that are high in salt content.  

Asia Pacific has the second largest market share due to increasing uses in countries such as China and Australia. Food grade application is also popular due in regions in Japan and Singapore.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global sodium selenite market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• II-VI (U.S.)
• Retorte (Germany)
• Vital (South Africa)
• Orffa (Netherlands)
• Jinhua (China)

INDUSTRY DEVELOPMENT

September 2021: PhenQ has launched a new product, PhenQ Complete Meal Shake that replaces one meal of the day by burning fat and suppressing appetite. The shake contains sodium selenite, vitamin B12, vitamin B6, vita-algae D, vegan vitamin D, and many other supplements.

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.