Global Sodium Selenate Market Projected to Reach US$ 184.9 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Sodium Selenate Market by type, by application, and by region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 109.7 Million in 2022 and is anticipated to grow at a growth rate 5.6 % by the year 2031.

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Sodium selenate is a chemical compound with the formula, Na2Seo4. It is a colorless or white crystalline solid that is highly soluble in water. Sodium selenate is primarily used in the production of selenium compounds, which have a variety of applications in different industries, including agriculture, electronics, and pharmaceuticals. It is used as a nutrient supplement for animals and humans. Sodium selenate is an essential trace element that is necessary for the proper functioning of the human body. It is involved in a variety of physiological processes, including the functioning of the immune system, the production of thyroid hormones, and the maintenance of healthy skin and hair. Sodium selenate is required in small amounts; however, it is still an essential nutrient and needs to be consumed through diet or supplements. Sodium selenate is used in the production of glass, ceramics, and pigments. It is added to glass formulations to improve the clarity and durability of glass. In ceramics, sodium selenate is used as a glaze to create a glossy, opaque finish. Sodium selenate is also used as a colorant in pigments for creating shades of red and yellow. Sodium selenate is used in the treatment of metal surfaces to prevent corrosion. When used as a corrosion inhibitor, sodium selenate reacts with the metal surface to form a protective coating. This coating prevents the metal from reacting with the environment and breaking down over time. Sodium selenate is used in biomedical research, particularly in the study of Alzheimer's disease and other neurodegenerative disorders. It has been demonstrated to inhibit the formation of tau protein tangles in the brain, a hallmark of Alzheimer's disease. Sodium selenate is commonly used as a selenium source in animal feed to prevent and treat selenium deficiency in livestock. Selenium deficiency in animals leads to various health problems, including reproductive issues, weakened immune systems, and reduced growth rate.

The increasing demand for animal products, including meat, dairy, and eggs as well as the growing awareness of the benefits of selenium supplementation in animal nutrition are expected to drive the demand for sodium selenate in the animal feed industry during the forecast period. Sodium selenate is used in a variety of cosmetics and personal care products, due to its antioxidant & anti-inflammatory properties. Consumers are becoming increasingly health-conscious and seeking out products with natural & sustainable ingredients. The demand for sodium selenate in these applications is expected to increase in the coming years. Sodium selenate is commonly used in hair care, skin care, and antiaging products. There are several benefits of it such as improving the strength & elasticity of hair, reducing the appearance of fine lines & wrinkles, and improving the overall health of the skin. Sodium selenate can be harmful to the environment, especially if it is not disposed off properly. Its use also contributes to the pollution of water bodies and soil, which could lead to long-term environmental damage. Therefore, there is growing awareness and concern about the impact of sodium selenate on the environment. This has led to strict regulations and limitations on its use, making it difficult for manufacturers to produce and distribute sodium selenate. Additionally, the negative impact of sodium selenate on the environment also makes it less attractive to consumers, further limiting its market potential.

The COVID-19 pandemic has had a significant impact on the global sodium selenate market. Sodium selenate is a compound that is commonly used in various industries, such as pharmaceuticals, agriculture, and cosmetics. The pandemic has disrupted supply chains, causing shortages in some regions and price fluctuations. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways, by directly affecting the production and demand of healthcare products, by creating disruptions in distribution channels, and by affecting the companies and various markets financially. Several countries such as Thailand, Indonesia, and Singapore are facing problems in terms of transportation and distribution of healthcare products.

Key Takeaways from the Study:

• Key players operating in the market Alfa Aesar (Thermo Fisher Scientific), American Elements, FUJI KASEI CO.,LTD., LobaChemie Pvt. Ltd., Omkar Speciality Chemicals Ltd., RETORTE GmbH, Santa Cruz Biotechnology, Inc, Sisco Research Laboratories Pvt. Ltd., Spectrum Chemical, Vital Materials Co., Limited. These companies are considered key manufacturers of Sodium Selenate based on their revenue, research development (R&D) activities, Gauge Type offerings, regional presence, and supply chain management system.
• Based on type, the global sodium selenate market is segmented into pharmaceutical grade, feed grade, and others. The pharmaceutical grade segment is expected to expand during the forecast period, due to increasing demand for healthcare products, growing awareness of the health benefits of selenium, and stringent quality standards in the pharmaceutical industry. The pharmaceutical industry is highly regulated. There are stringent quality and safety standards to be met to ensure that high-quality pharmaceutical grade sodium selenate is used in the production of pharmaceutical products.
• Based on application, the global sodium selenate market is segmented into multivitamins, livestock, feed, and others. The multivitamins segment is expected to grow during the forecast period, due to the increasing awareness of the health benefits of selenium. Selenium is found in sodium selenate, which is an essential trace mineral that plays a vital role in various physiological functions, such as DNA synthesis, immune function, and antioxidant defense. People are become health-conscious and seek to maintain a healthy lifestyle, which is increasing the demand for multivitamin supplements containing selenium.
• Based on region, the global sodium selenate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is estimated to hold a substantial market share in the coming years, owing to various factors, such as the increasing use of sodium selenate in the pharmaceutical and food industries in the region. Additionally, the growing demand for nutritional supplements and fortified food products is expected to drive the sodium selenate market in North America. The market in Asia Pacific is expected to register significant growth during the forecast period, due to the growing demand for sodium selenate in the animal feed industry, particularly in China and India. Rising population and increasing disposable income of consumers in the region are driving the demand for animal-based products, which, in turn, is increasing the demand for animal feed. The market in Europe is expected to expand at a rapid pace during the forecast period, owing to various factors, such as the increasing demand for dietary supplements, growing awareness regarding the benefits of selenium intake, and rising prevalence of chronic diseases such as cancer and cardiovascular diseases.

Report Scope:

Target Audience:

• Supply-side: Manufacturer, distributors, wholesaler, and Supplier.
• Demand Side: Healthcare, Feed, Livestock,