Global Sodium Starch Glycolate Industry Growth Strategies, Key Players and In depth Analysis
Sodium Starch Glycolate Market Overview
Sodium starch glycolate (SSG) can be obtained by carboxy methylating starch from various origins. Market Research Future (MRFR) has published a research report about the global sodium starch glycolate market that predicts growth for this market during the forecast period.
The major reason for the growth of the global sodium starch glycolate industry is the use of sodium carboxymethyl starch in sodium carboxymethyl cellulose due to cost-effectiveness. Another important factor leading to market growth is increasing the number of non-communicable diseases and chronic respiratory diseases due to the changing habits and aging population because of which the demand for sodium starch glycolate is increasing. In the pharmaceutical industry, the SSG use is increasing due to rising health awareness and longer life expectancies among consumers across the globe. Therefore, the market is increasing.
Market Segmentation
The global sodium starch glycolate market has been segmented on the basis of application, product, and lastly, region. The application-based segmentation segments this market into adhesives, food ingredients, pharmaceuticals, textile, and others. SSG is used as an additive in glues for plywood. The growing use of paper bags due to durability and eco-friendliness is fueling the demand for adhesives. Based on the product, the market has been segmented into corn, potato, wheat, and others.
Regional Analysis
The regional segmentation of the global sodium starch glycolate market segments the market into regional markets known as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America is the dominant regional market in the whole global market due to the presence of various drug manufacturers, the availability of advanced medical facilities, and biotechnological pharma companies in this region, especially in the USA. The most important factors leading to market growth in this region include rising chronic ailments due to changing lifestyle and hectic work schedule and the rising demand for the product in the pharmaceutical industry. The market in here is also growing to due to the presence of many key market players and a high level of research and development (R&D). Demand for adhesives is also contributing to the market growth due to the revival of the automotive industry in North America and the prevalence of a large number of automotive manufacturers. After the USA, Canada is the most important country-specific market.
Argentina and Brazil are two strong economies that have the potential to grow as suitable markets in Latin America. Latin America is an important market but smaller compared to North America as it lacks in the standard of technological advancement and advanced medical facilities, compared to North America.
Europe is another substantial regional market due to the extensive R&D activities happening in this region. Government initiatives regarding R&D are the main reason that boosts the market in Europe. Healthcare spending in Germany is more than the US $ 400 bn of which 14% accounted for pharmaceutical products. That makes Germany, the most important country-specific market. Other crucial country-specific markets in this region are France, Italy, Poland, Russia, Spain, and the UK.
In the MEA region, the market is limited due to poor countries, lack of awareness, lack of technological advancements, lack of advanced medical facilities, low standard of medical facilities, lack of education, lack of healthcare facilities, and most governments not considering healthcare a priority. In this region, the significant country-specific markets are Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates (UAE), followed by the remaining countries in the MEA region.
The Asia Pacific is the third most important regional market that is largely driven by the rapid growth of the Indian pharmaceutical industry. Factors boosting the market growth in this region are growing per capita income and rising health awareness among the consumers. Vital country-specific markets in this region are Austalia, China, Japan, and New Zealand, followed by the remaining countries in the Asia Pacific region.
Key Players
The key players in the global sodium starch glycolate market include DFE Pharma (Germany), H.P. Chemicals (India), JRS Pharma (Germany), Muby Chemicals (India), NB Entrepreneurs (India), Prachin Chemical (India), Remedy labs (India), Roquette (French), Shree Chemicals (India), and Spectrum Chemical Manufacturing Corp. (USA).
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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