Market Synopsis:
Caustic soda is used to produce several products across a number of
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.
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
for the production of 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.
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.
Access Full
Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/caustic-soda-market-1499
Market Segmentation:
By type, the global caustic soda market 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.
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.
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.
Check Blog@ https://www.marketresearchfuture.com/blogsRelated Report@ https://www.marketresearchfuture.com/categories/chemicals-market-report
Note: Our Team of researchers are studying Covid-19 and its impact on Various industry Verticals and wherever required we will be considering Covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
No comments:
Post a Comment