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Sodium Selenate Market Analysis, Opportunities & Trends 2031

Global Sodium Selenate Market

Name: Growth Market Reports
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Segments - By Type (Pharmaceutical Grade, Feed Grade, Others), By Application (Multivitamins, Livestock, Feed, Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2023-2031

MC-5432
4.5 Rating
185 Pages

12-11-2022
67 Reviews

Author :

Riddhesh Dani

Fact-checked by :

Harneet Meher

Editor :

Shruti Bhat

Report Description

Sodium Selenate Market Outlook

The global Sodium Selenate Market was valued at USD 109.7 Million in 2022 and is expected to reach USD 184.9 Million in 2031, expanding at a CAGR of 5.6% during the forecast period. The overall incremental opportunity is estimated to be USD 65.4 Million from 2023 to 2031.

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 humSodium 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 a source of selenium and is sometimes used as a dietary supplement. High levels of selenium are toxic hence, sodium selenate should be used with caution and under the guidance of a healthcare professional.

Selenium toxicity causes a variety of symptoms, including nausea, vomiting, abdominal pain, hair loss, and neurological problems. 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 Market Dynamics

Driver

Growing Awareness about the Health Benefits

Selenium is an essential micronutrient that plays a vital role in maintaining good health. Sodium selenate is one of the primary sources of selenium, and its consumption has been linked to several health benefits, including a reduced risk of cancer, cardiovascular diseases, and cognitive decline.

People are becoming increasingly health conscious and an aging population is increasingly concerned about maintaining their health, which increases the demand for sodium selenate as a nutritional supplement in the form of dietary supplements and functional foods.

Technological Advancements in Production Processes

The development of innovative production processes, such as electrochemical synthesis involves the use of an electric current to convert selenium dioxide into sodium selenate and bio-reduction involves using bacteria or fungi to convert selenium ions into sodium selenate.

Both methods have several advantages, including low production costs, low energy consumption, & low environmental impact. This is expected to increase the adoption of sodium selenate in various applications & drive the growth of the global market.

Increasing Demand from the Animal Feed Industry

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.

Growing Demand for Cosmetics and Personal Care Products

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.

Restraint

Environmental concerns

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.

Availability of Substitutes

The availability of substitutes is a major restraint for the market. Sodium selenate is used in various industries, including pharmaceuticals, agriculture, and animal feed. However, there are alternative compounds that can be used for similar purposes, such as sodium selenite or selenium-enriched yeast.

Substitutes are more cost-effective or have fewer environmental concerns than sodium selenate, which make them attractive to manufacturers and consumers. Therefore, the demand for sodium selenate decreases, and manufacturers need to compete with these substitutes in the market.

Opportunity

Increasing Use in the Electronics Industry

Sodium selenate is a material that is used in the production of electronic components, particularly in the production of thin-film photovoltaic (PV) cells. Sodium selenate is also used in the fabrication of CIGS (copper, indium, gallium, and selenide) solar cells, which are thin-film solar cells that offer a more cost-effective and flexible alternative than traditional silicon solar cells.

The electronics industry has a growing demand for renewable energy sources and sustainable technology. The demand for sodium selenate in the production of thin film PV cells and other electronic components increases, which creates new opportunities for the industry.

Increasing Research and Development Activities

Researchers and pharmaceutical companies are exploring the potential therapeutic applications of sodium selenate, including its potential use in treating neurodegenerative diseases, such as Alzheimer’s and Parkinson’s disease. Sodium selenate has been shown to have antioxidant and anti-inflammatory properties, which have potential therapeutic benefits nitrating various diseases.

The pharmaceutical industry is investing heavily in research and development (R&D) activities to develop new drugs & therapies that address unmet medical needs. Increasing research activities lead to the development of innovative products that use sodium selenate as an active ingredient and create new opportunities for the market.

Scope of Sodium Selenate Market Report

The report on the Global Sodium selenate market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Sodium Selenate Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Type (Pharmaceutical Grade, Feed Grade, Others), Application (Multivitamins, Livestock, Feed, Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	Alfa Aesar (Thermo Fisher Scientific), American Elements, FUJI KASEI CO. LTD., Loba Chemie Pvt. Ltd., Omkar Speciality Chemicals Ltd., RETORTE GmbH, Santa Cruz Biotechnology, Inc., Sisco Research Laboratories Pvt. Ltd., Spectrum Chemical, Vital Materials Co., Limited

Sodium Selenate Market Segmental Outlook

The global Sodium Selenate market is segmented on the basis of type, application, and region.

By Type

Based on type, the global Sodium Selenate market is segmented into Pharmaceutical Grade, Feed Grade, and Others. On the basis of type, the others segment held a XX % value share of the market in 2022. The segment is projected to account for the largest share of the market during the forecast period.

In terms of revenue, the others and feed grade segments were valued at USD XX Mn and USD XX Mn, respectively, in 2022. Furthermore, the feed grade segment is anticipated to expand at a lucrative CAGR of XX between 2023 and 2031. The Y-o-Y growth of the pharmaceutical grade segment was improved by XX% due to the onset of the COVID-19 pandemic between 2022 and 2023.

By Application

In terms of application, the global Sodium Selenate market is segregated into Multivitamins, Livestock, Feed, and others. On the basis of application, the others segment held a XX% value share of the market in 2022. The segment is projected to account for the largest share of the market during the forecast period.

In terms of revenue, the others and multivitamins segments were valued at USD XX Mn and USD XX Mn, respectively, in 2022. Furthermore, the multivitamins segment is anticipated to expand at a lucrative CAGR of XX% between 2023 and 2031. The Y-o-Y growth of the feed segment was improved by XX% due to the onset of the COVID-19 pandemic between 2022 and 2023.

Sodium Selenate Market Regional Outlook

Based on region, the global Sodium Selenate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. On the basis of regions, the Asia Pacific segment held a XX% value share of the market in 2022. The segment is projected to account for the largest share of the market during the forecast period.

In terms of revenue, the Asia Pacific and North America segments were valued at USD XX Mn and USD XX Mn, respectively, in 2022. Furthermore, the North American segment is anticipated to expand at a lucrative CAGR of XX% between 2023 and 2031. The Y-o-Y growth of the Middle East & Africa (MEA) segment was improved by XX% due to the onset of the COVID-19 pandemic between 2022 and 2023.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Global Sodium Selenate Market
Historical, Current, and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Sodium Selenate Market Performance

Segments

By Type

Pharmaceutical Grade
Feed Grade
Others

By Application

Multivitamins
Livestock
Feed
Others

By Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Market Players Profiled in the Report

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

Competitive Landscape

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 as key manufacturers of Sodium Selenate based on their revenue, research development (R&D) activities, product offerings, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunities for the Sodium selenate market.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sodium Selenate Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Sodium Selenate Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Sodium Selenate Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Sodium Selenate Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Sodium Selenate Market Size & Forecast, 2016-2031
      4.5.1 Sodium Selenate Market Size and Y-o-Y Growth
      4.5.2 Sodium Selenate Market Absolute $ Opportunity
Chapter 5 Global Sodium Selenate Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Sodium Selenate Market Size Forecast By Type
      5.2.1 Pharmaceutical Grade
      5.2.2 Feed Grade
      5.2.3 Others
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Sodium Selenate Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Sodium Selenate Market Size Forecast By Application
      6.2.1 Multivitamins
      6.2.2 Livestock
      6.2.3 Feed
      6.2.4 Others
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Sodium Selenate Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Sodium Selenate Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Sodium Selenate Analysis and Forecast
   9.1 Introduction
   9.2 North America Sodium Selenate Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Sodium Selenate Market Size Forecast By Type
      9.6.1 Pharmaceutical Grade
     9.6.2 Feed Grade
      9.6.3 Others
   9.7 Basis Point Share (BPS) Analysis By Type
   9.8 Absolute $ Opportunity Assessment By Type
   9.9 Market Attractiveness Analysis By Type
   9.10 North America Sodium Selenate Market Size Forecast By Application
      9.10.1 Multivitamins
      9.10.2 Livestock
      9.10.3 Feed
      9.10.4 Others
   9.11 Basis Point Share (BPS) Analysis By Application
   9.12 Absolute $ Opportunity Assessment By Application
   9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Sodium Selenate Analysis and Forecast
   10.1 Introduction
   10.2 Europe Sodium Selenate Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Sodium Selenate Market Size Forecast By Type
      10.6.1 Pharmaceutical Grade
      10.6.2 Feed Grade
      10.6.3 Others
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 Europe Sodium Selenate Market Size Forecast By Application
      10.10.1 Multivitamins
      10.10.2 Livestock
      10.10.3 Feed
      10.10.4 Others
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Sodium Selenate Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Sodium Selenate Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Sodium Selenate Market Size Forecast By Type
      11.6.1 Pharmaceutical Grade
      11.6.2 Feed Grade
      11.6.3 Others
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Asia Pacific Sodium Selenate Market Size Forecast By Application
      11.10.1 Multivitamins
      11.10.2 Livestock
      11.10.3 Feed
      11.10.4 Others
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Sodium Selenate Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Sodium Selenate Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Sodium Selenate Market Size Forecast By Type
      12.6.1 Pharmaceutical Grade
      12.6.2 Feed Grade
      12.6.3 Others
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Latin America Sodium Selenate Market Size Forecast By Application
      12.10.1 Multivitamins
     12.10.2 Livestock
      12.10.3 Feed
      12.10.4 Others
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Sodium Selenate Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Sodium Selenate Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Sodium Selenate Market Size Forecast By Type
      13.6.1 Pharmaceutical Grade
      13.6.2 Feed Grade
      13.6.3 Others
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Middle East & Africa (MEA) Sodium Selenate Market Size Forecast By Application
      13.10.1 Multivitamins
      13.10.2 Livestock
      13.10.3 Feed
      13.10.4 Others
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
aChapter 14 Competition Landscape
   14.1 Sodium Selenate Market: Competitive Dashboard
   14.2 Global Sodium Selenate Market: Market Share Analysis, 2022
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 Aesar (Thermo Fisher Scientific)
      14.3.2 American Elements
      14.3.3 FUJI KASEI CO.,LTD.
      14.3.4 LobaChemie Pvt. Ltd.
      14.3.5 Omkar Speciality Chemicals Ltd.
      14.3.6 RETORTE GmbH
      14.3.7 Santa Cruz Biotechnology, Inc.
      14.3.8 Sisco Research Laboratories Pvt. Ltd.
      14.3.9 Spectrum Chemical
      14.3.10 Vital Materials Co., Limited

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FAQ Section

Some frequently asked questions about this report!

1. Can I ask for different company profiles?

Additional company profiles are provided on request For a discussion related to above findings, click Speak to Analyst

2. What are the criteria used for selecting company profiles?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

3. What are the factors driving the Sodium Selenate market?

The Sodium Selenate market is projected to expand at a rapid pace globally, owing to the Expansion of the Growing Awareness about the Health Benefits, Technological Advancements in Production Processes, Increasing Demand from the Animal Feed Industry, and Growing Demand for Cosmetics and Personal Care Products.

4. How big will be the Sodium Selenate market in 2028?

According to this Growth Market Reports, the Sodium selenate market is expected to register a CAGR of XX% during the forecast period, 2016-2031, with an anticipated valuation of USD XX million by the end of 2031.

5. What are the major applications of the Sodium Selenate market driving the market growth?

Multivitamins, Livestock, Feed and Others.

6. Which macroeconomic factors affect the market?

Factors such as Economic Growth, Environmental regulations, Government Policies Trade policies in this report.

7. Who are the major players operating in the market?

Major players include 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.

8. What additional data analysis is available in the report?

In addition to market size (in US$ Million), Company Market Share (in % for the base year 2022).

9. What is the base year calculated in the global Sodium Selenate market report and what is the analysis period?

The base year considered for the global Sodium Selenate market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 to 2021 are the historic years, and the forecast is provided from 2023 to 2031.