Sodium Selenite Market Size, Analysis, Share & Forecast 2031

Report Description

The global sodium selenite market size was estimated at USD 127.8 Million in 2022 and is anticipated to reach USD 257.4 Million by 2031, expanding at a CAGR of 8.3% during the forecast period.

Selenium and sodium combine chemically to form sodium selenite. It is the most prevalent kind of selenium that is water soluble. Sodium selenite is mainly used in the production of colorless glass. Sodium selenite is prepared by evaporating an aqueous solution of sodium hydroxide and selenious acid at a temperature of 60° to 100° C or by heating a mixture of sodium chloride and selenium oxide. Sodium selenite is generally used as a source of selenium in biological research, where selenium is an essential trace element that is provided by serum.
 

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Macro-economic Factors

Rising GDP of Emerging Economies

An emerging market economy refers to a country that is in the process of development. Countries such as Brazil, Russia, India, China (BRIC), and other countries in Latin America & Southeast Asia are key developing economies.

The economic growth of emerging countries is typically growing by 6% to 7% annually, whereas countries with an already well-established economy report growth rate below 3%. Therefore, the GDP growth rates for emerging market economies are outperforming those of developed countries. Thus, the rising GDP of major & emerging economies plays a crucial role in the expansion of the market.

Governmental Regulation

The chemical industry is one of the most regulated of all industries. In addition to the regulation of its products, it is subjected to a number of requirements and regulations by governments aimed at minimizing the release of chemical substances during manufacturing and processing as well. The chemicals industry in developed countries has made good progress in reducing emissions.

The increasing use of chemicals in developing countries contaminates the environment. Developing countries are transitioning to a large scale of chemical production and consumption, these changes have potential implications on human health. Thus, chemical companies are shifting to green product design principles for their business growth.

Sodium Selenite Market Dynamics

Sodium selenite (Na2SeO3) helps in the stimulation of the cellular immune system. It prevents angiogenesis and aids in repairing DNA damage. However, the direct activation of natural killer (NK) cells by this substance plays a significant role in the fight against cancer. Sodium selenite inhibits the disulfide exchange on the surface of cancer cell membranes and makes it susceptible to the destructive activity of phagocytic cells.

Sodium selenite helps in restoring the antioxidant capacity of bone marrow mesenchymal stem cells (BMSCs) and reduces the production of reactive oxygen species (ROS) in the cells, promotes cell proliferation, and inhibits cell apoptosis.

The biological function of selenium is centered on the prevention of cancer, cardiovascular disease, and infertility. Thus, health benefits associated with the consumption of sodium selenite are expected to drive the growth of the market during the forecast period.

Market Driver- Usage of Sodium Selenite in Animal Nutrition

Sodium selenite is considered to be a safe and efficacious source of selenium for all animal species/categories. The intestinal availability of selenium is decreased when sodium selenite is converted to non-absorbable elemental selenium in the rumen. The addition of dietary-coated sodium selenite can help dairy cows produce extra milk.

Ascorbic acid reacts with sodium selenite in feed, reducing it to an elemental form that is inaccessible to living organisms in the digestive tract. When selenite is mixed with feeds with a lot of water activity, it transforms into the volatile form seleniferous acid and can evaporate. Thus, usage of sodium selenite in animal nutrition drives the growth for the market

Market Restraint- Harmful Effects Associated with Sodium Selenite

Excessive intake of sodium selenite causes toxicity, which leads to ailments such as hair & nail loss, fatigue, nervous system disorders, and irritability. Breathing sodium selenite irritates the nose, throat, and lungs causing coughing, wheezing, and shortness of breath.

Long-term exposure damages the red blood cells causing anemia, which means low blood count. Increased use of sodium selenite in pet food can be toxic to the blood, kidneys, liver, skin, and central nervous system of pet animals. The toxicity of selenium compounds, especially sodium selenite, is considered to be related to its pro-oxidant properties.

Market Opportunity- Rising research and development activities

Sodium selenite is used as a source of selenium in biological research, where selenium is an important trace element that is normally provided by serum. Selenium is present in selenoproteins such as glutathione peroxidase and thioredoxin reductase, which includes the selenium analog of cysteine and selenocysteine.

Sodium selenite is included in medium supplements for use in cell culture. Moreover, Sodium selenite has been utilized in studies of cell proliferation and cancer research. It has been used to alter gene expression in HepG2 cells, as analyzed by cDNA microarrays.

Scope of Sodium Selenite Market Report    

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

Sodium Selenite Market Segment Insights

On the basis of grade, the market is segmented into food grade, pharmaceutical grade, and others. others are further subdivided feed grade, industry grade and reagent grade. The food grade segment is projected to expand at a considerable pace during the forecast period, owing to usage of sodium selenite during the production of yeast-leavened bread.

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Based on Application, the market is fragmented into food supplements, feed industry, pharmaceutical industry, and others. The feed industry segment is expected to grow at a rapid pace in coming years, owing to the use of sodium selenite as a feed additive. It is an essential part of trace element premixes for livestock as well as pets.

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Regional Analysis

Based on regions, the market is separated into namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The market in North America is expected to hold a 32.7% share of the market in the year 2022. The presence of key market players and rapid developments in healthcare in the region is expected to drive the market in North America in the coming years.

The market in Europe is projected to expand at 8.7% of CAGR during the forecast period, as the growing use of sodium selenite in animal feed and supplements in the region.

The market in Asia Pacific is expected to register 8.8% of CAGR during the forecast period, owing to the increasing production and export of sodium selenite in the region.

Latin America and the Middle East & Africa (MEA) are anticipated to hold a 10.4% share of the market in the year 2022, due to the increased use of sodium selenite as decolorizing agent for glass in these regions.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Sodium Selenite Market
• Historical, Current, and Projected Market Size in terms of Value
• 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 Selenite Market Performance