Caustic Soda Market Overview to 2027:
The widespread use of caustic soda in
different industries is increasingly adding to the growth of the market. Market
reports associated with the chemicals and materials sector made accessible by
Market Research Future along with published reports on other sectors have been
lately put out along with a report on this industry. The market is estimated to
earn revenues worth USD 56687.66 Million by 2027 while expanding at a 5.92%
CAGR in the forecast period.
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The amplified growth of the alumina industry
is estimated to improve the development of the market considerably in the
forecast period. The rising use of aluminum in the transportation sector
because of the necessity to use aluminum to decrease vehicle weights and
control emissions is the core driving factor for the development of the market.
The escalating usage of caustic soda as a bleaching agent is anticipated to
lead to the expansion of the market in the duration of the forecast period.
Global Key
Players:
Ø Solvay S.A
Ø Formosa Plastics Group
Ø Gujarat Alkalies and
Chemicals
Ø AkzoNobel N.V.
Ø Westlake Chemical
Corporation
For instance, Covestro AG is planning
to build its own chlorine production plant in Tarragona, Spain, using
oxygen-depolarised cathode technology (ODC). The production facility will
consume around a quarter less energy than the conventional method. Around USD 200 MN is invested in the plant at
Tarragona to increase the site’s competitiveness. The ODC technology is based
on the conventional membrane process, in which chlorine, caustic soda, and
hydrogen are usually produced from rock salt and water. This cost-effective
move will ensure production control, knowledge protection, as well as quality
improvement for Covestro AG.
Industry Updates:
Aug 2018 Occidental Petroleum has
attained a top level of quarterly earnings in its chemical and marketing
business. Oxy's record earnings for its chemical and marketing business follows
up on the market improvements such as better caustic soda pricing among other
factors.
Detailed Regional Analysis
The regional analysis of the caustic
soda market covers regions such as North America, Asia Pacific, Europe, Latin
America, and the Middle East & Africa. The Asia Pacific region is responsible
for the chief market share trailed by the North American and European region.
The Asia Pacific region is anticipated to offer enormous growth potential for
caustic soda market and is estimated to register the highest CAGR of 6.22
percent during the forecast period. China is responsible for the key market
share in the Asia Pacific region and is expected to control the market through
the forecast period due to rising end-user industries in the region.
Key Findings:
Market Research Future concludes that
over the past few years, the global caustic soda market has witnessed a
moderate growth and as per the analysis, the market is likely to continue
growing over the forecast period. The market growth is attributed towards the
continuously increasing growth of the application segment such as alumina,
paper & pulp, organic chemical, textiles, soaps & detergents, inorganic
chemicals, water treatment, dye & ink and others. Global caustic soda
market is projected to reach USD 56687.66 Million by 2027 at a CAGR of 5.92%
during the review period 2017-2027.The alumina segment was accounted for 18.07%
share in 2017. The segment is anticipated to retain its dominance over the
forecast period with a share of 18.40% by 2027 end, due to growing demand for
caustic soda in alumina refineries as hot solution of caustic soda is primarily
used for separation alumina from bauxite to produce aluminum.
Market
Segmentation
The caustic soda market is segmented
on the basis of type and application.
Based on type, the market is segmented
into lye, flake, and others. The major users of caustic soda are the aluminum
industry, pulp & paper, and the chemical industry. The main applications of
caustic soda lye are water treatment and water purification, in chemical
industry for starch production, and for the desulphurization in the
petrochemical industry.
Based on application, the market is
segmented into inorganic chemical, organic chemical, alumina, soap &
detergents, pulp & paper, water treatment, textiles, and dye & ink, and
others. The alumina and pulp & paper segments are estimated to dominate the
market by 2027. The alumina segment accounted for 18.07% share in 2017. The
segment is slated to retain its lead over the forecast period with a share of
18.40% by 2027 end, owing to growing demand for caustic soda in alumina
refineries.
Following alumina segment, pulp &
paper is the second largest application segment for caustic soda and was
accounted for 17.05% market share in 2017. The segment is expected to grow
steadily due to high demand of caustic soda for bleaching of pulp. Apart from
this, organic chemical was the third largest application segment in 2016. The
organic chemical segment is deemed to expand at a CAGR of 6.01% during the
forecast period, as caustic soda is an essential reactant in the production of
many useful organic chemicals. Moreover, other segments are presumed to witness
rapid growth. Altogether, nine application segments are poised to grow at a
rate of 5.92% per annum to reach USD 56687.66 mn by 2027.
Intended Audience:
- Aluminium manufacturers
- Caustic Soda manufacturers
- Pulp & Paper Manufacturers
- Organic Chemical Manufacturers
- Potential investors
- Caustic Soda suppliers
- Nationalized laboratory
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