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.
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.
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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.
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- Solvay S.A
- Formosa Plastics Group
- Gujarat Alkalies and Chemicals
- AkzoNobel N.V.
- 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.
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.
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.
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.
- Aluminium manufacturers
- Caustic Soda manufacturers
- Pulp & Paper Manufacturers
- Organic Chemical Manufacturers
- Potential investors
- Caustic Soda suppliers
- Nationalized laboratory