Caustic soda is used to produce several products across a number of industry verticals. Its proliferating application across end-user industries is expected to boost the sales of the chemical in the upcoming years. According to the latest study conducted by Market Research Future (MRFR), the global caustic soda market is expected to reach a valuation of USD 56687.66 Mn by the end of 2027. The report underscores that the caustic soda market is anticipated to exhibit a moderate CAGR of 5.92% during the assessment period 2017 to 2027.
The alumina industry has been projected to signify exceptional developmental opportunities on account of increasing demand from the automotive industry. The rising government implementations supporting the use of alumina to produce lightweight and energy efficient automotive components is expected to favor the growth of the industry. Caustic soda is used and heated in massive amounts in these alumina facilities. This, in turn, is projected to catapult the caustic soda market on an upward trajectory. Similarly, the increasing demand for caustic soda from different domains such as pulp & paper, textiles, industrial chemicals, etc. is likely to drive market growth.
Lye for soap making comes from caustic soda. This is another major end product that is expected to generate demand for the product across the review period. The towering demand for products that use caustic soda as a key ingredient is poised to boost the growth pattern of the market in the years to come. However, caustic soda price lowers profit margin for the market players which is expected to check the growth over the assessment period.
- Solvay S.A
- Olin Corporation
- Formosa Plastics Group
- The Dow Chemical Company
- Xinjiang Zhongtai Chemical Co.
- Tata Chemicals Limited
- AkzoNobel N.V
- Gujarat Alkalies and Chemicals
- Westlake Chemical Corporation
In January 2019, Emirates Global Aluminium, an industrial company in the UAE, has announced that its new Al Taweelah alumina refinery has entered its final stages. EGA has started water testing of the digestion section which involves heating of the heating of a slurry of crushed bauxite and caustic soda.
In November 2018, Serba Dinamik Group Berhad company, based out of Malaysia, has planned the construction of caustic soda plant in Uzbekistan USD 250 Mn. An investment agreement is signed in April.
In August 2018, a wholly owned subsidiary of Shin-Etsu Chemical Co., Ltd., Shintech Inc., has chosen Veolia Water Technologies to supply of HPD salt crystallizer and caustic soda concentration systems for the expansion of the production facility in Plaquemine, Louisiana.
By type, the global Caustic Soda Market has been segmented into lye, flake, and others.
By application, the caustic soda market has been segmented into inorganic chemical, alumina, soap & detergents, organic chemical, pulp & paper, textiles, dye & ink, water treatment, and others.
The global caustic soda market, by region, has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to account for the largest share of the market reflecting a comparatively higher CAGR of 6.22% between 2017 and 2027. The growth of the end-user industries is poised to augment the caustic soda market in the region over the next few years. The region signifies remarkable developmental opportunities owing to the presence of a thriving automotive industry. Also, the exceptional growth of the Chinese economy is likely to have a positive impact on the expansion of the caustic soda market in the foreseeable future. North America is also projected to observe rising consumption of caustic soda in the forthcoming years. It is poised to accelerate revenue creation for the players of the caustic soda market in the region.
Get Complete Research [email protected] https://www.marketresearchfuture.com/reports/caustic-soda-market-1499