The ‘Global Caustic Soda Market Size, Share, Price, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global caustic soda market, assessing the market on the basis of its segments like production process, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Caustic Soda Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3%
The major factors driving the growth of the caustic soda market are the wide applications of caustic soda in the food and healthcare sector and the rapid expansion of the chemical industry. The rising demand for alumina is also likely to bolster the market growth of caustic soda. The prevailing use of caustic soda as a water treatment chemical has significantly helped to minimise water contamination and is likely to boost this market in the forecast timeline. In the food and beverage industry, caustic soda has multiple applications including its use as a thickener in ice-cream and for removing the skin of vegetables like potatoes and tomatoes.
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The organic chemical applications of the caustic soda market are likely to flourish in the projected period owing to the growing usage of caustic soda in dyes, pigments and agrochemicals. Meanwhile, the alumina applications of caustic soda are also projected to witness a steady growth due to the various benefits of alumina in the automotive sector including boosting fuel economy and reducing emissions. The soap and detergent applications of the market are also expected to register a steady growth due to the use of caustic soda in the process of saponification and for manufacturing anionic surfactants. The membrane cell production process is expected to witness a spike owing to its cost-effectiveness and low electricity requirements.
Industry Definition and Major Segments
Caustic soda, also known as sodium hydroxide, is an alkali which is used as a powerful cleaning substance and for industrial processes like soap and paper production. In its purest form, caustic soda is a waxy, white solid that absorbs water readily to form aqueous solutions. Caustic soda is commercially available in the form of sodium hydroxide monohydrate (NaOH.H2O).
On the basis of production process, the market is segmented into:
• Membrane Cell
• Diaphragm Cell
• Others
Based on application, the market is classified into:
• Pulp and Paper
• Organic Chemical
• Inorganic Chemical
• Soap and Detergent
• Alumina
• Water Treatment
• Textile
• Others
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Caustic Soda Market Trends
The rapidly advancing technology used for the manufacture of caustic soda is likely to strengthen the growth potential of the caustic soda market. The key trends propelling the growth of this market include the increasing utilisation of chemical pulping and heightening construction activities. The growing research and development activities coupled with the stringent policies of various governments to control the contamination of natural water bodies like seas, oceans, and lakes is expected to impact this market positively. The market for caustic soda is also expanding due to its growing demand in the healthcare sector for manufacturing aspirin, which is increasingly being used as a common pain relieving drug.
The increasing prevalence of electric vehicles and solar energy plants has triggered the demand for aluminium, which has in turn generated a burgeoning demand for caustic soda. The combination of sodium hydroxide with chlorine in the form of chlorine bleach, is increasingly being used as a household cleaning agent. This, coupled with the rising awareness regarding disinfecting homes and workplaces, is spurring the growth of the caustic soda market. The surging demand for tissues and graphic papers has fuelled the demand for caustic soda, leading to the further expansion of this market.
Key Market Players
The major players in the global caustic soda market report are:
• Arkema Group, Covestro AG
• Occidental Petroleum Corporation
• The Dow Chemical Company
• Kemira Oyj, and SABIC
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.