Market Insights:
Caustic soda is used to produce several products across several 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.
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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.
Market Segmentation:
By type, the global Caustic
Soda Market Size 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.
Competitive Dashboard:
·
The Dow
Chemical Company
·
Xinjiang
Zhongtai Chemical Co.
·
Tata
Chemicals Limited
·
AkzoNobel
N.V
·
Solvay S.A
·
Olin
Corporation
·
Formosa
Plastics Group
·
Gujarat
Alkalies and Chemicals
·
Westlake
Chemical Corporation
Industry News:
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.
Regional Analysis:
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.
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Research Report@ https://www.marketresearchfuture.com/reports/caustic-soda-market-1499
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