Core Viewpoint - The formaldehyde sodium bisulfite industry in China is experiencing steady growth, with production and consumption increasing, driven by stable demand from downstream applications and expanding usage areas [1][5][8]. Industry Overview - Formaldehyde sodium bisulfite, also known as bleaching powder, is produced by combining formalin with sodium bisulfite and has various applications in industries such as dyeing, rubber, photography, and pharmaceuticals [1][4]. - The product is prohibited for use as a food additive in China [1]. Production and Capacity - The production of formaldehyde sodium bisulfite in China increased from 46,000 tons in 2019 to 55,000 tons in 2024, achieving a compound annual growth rate (CAGR) of 3.6% [5][6]. - The industry capacity has remained stable at around 67,000 tons, with a capacity utilization rate reaching 82.1% in 2024, an increase of 13.4 percentage points since 2019 [7][8]. Consumption Trends - The apparent consumption of formaldehyde sodium bisulfite is projected to reach 54,000 tons in 2024, reflecting a year-on-year growth of 1.9%, supported by stable demand from the dyeing industry and new applications [8][9]. Import and Export Dynamics - The import and export volumes of formaldehyde sodium bisulfite have shown fluctuations, with exports increasing from 10,000 tons in 2020-2022 to 20,000 tons in 2023, and expected to be 18,000 tons in 2024. Imports are projected to be around 12,000 tons in 2024 [10][11]. Competitive Landscape - The formaldehyde sodium bisulfite industry in China is characterized by a large number of small to medium-sized enterprises, with no dominant players currently established in the market [12][13]. Future Development Trends - The demand for formaldehyde sodium bisulfite is expected to continue growing, potentially exceeding 60,000 tons by 2030, driven by developments in downstream industries such as dyeing and emulsion polymerization. The industry is also moving towards greener production methods in line with carbon reduction strategies [14][15].