Market Insights:
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.
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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