Global caustic soda market to be driven by growing collaborations and capacity expansions in the for
Posted: Sep 27, 2020
The new report by Expert Market Research titled, ‘Global Caustic Soda Market Growth, Size, Share, Analysis, Report and Forecast 2020-2025’, gives an in-depth analysis of the global caustic soda market, assessing the market based on its segments like production processes, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 78 million metric tons
- Forecast CAGR (2020-2025): 3%
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The global caustic soda market is being driven by the growing demand for caustic soda in the pulp and paper industry and the production of organic and inorganic chemicals. The rising demand for alumina in the automotive industry is emerging as one of the significant factors driving the industry forward as caustic soda is widely consumed to extract aluminium from its ores. Over the forecast period, the expansion of the plant capacity and growing investments in the research and development activities supported by the cross-industry collaborations are expected to further propel the market growth. However, environmental concerns may hamper the industry growth in the future.
Industry Definition and Major Segments
Caustic soda is a white solid ionic compound represented by the formula NaOH. It is also known as sodium hydroxide. This inorganic compound is highly soluble in water, has a relatively higher viscosity than that of water, and can form several hydrates. It is produced through the variations of the electrolytic chloralkali process as a 50% solution and is commonly available as flakes, and prills. It is used as a strong base in the manufacture of various products like pulp and paper, detergents, textiles, and more.
The various production process of caustic soda are as follows:
- Membrane Cell
- Diaphragm Cell
On the basis of application, the industry is divided into:
- Pulp and Paper
- Organic Chemical
- Inorganic Chemical
- Soap and Detergent
- Water Treatment
The regional markets for caustic soda include:
- North America
- United States of America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
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The global caustic soda market is expected to be driven by the growing investments by the key players in the research and development activities and growing collaborations to enhance the plant capacity and expand the market reach. For instance, in early 2018, AkzoNobel Specialty Chemicals, one of the leading producers of caustic soda (sodium hydroxide) signed a joint venture with Evonik Industries to produce chlorine and potassium hydroxide at their new facility, which utilises state-of-the-art membrane electrolysis technology. This is expected to enhance the reach of both the companies. Moreover, the rapid urbanisation and industrialisation in emerging nations are expected to provide significant opportunities for the market expansion in the coming years.
Key Market Players
The major players in the market are Arkema Group Co., Covestro AG (Formerly Bayer MaterialScience AG), The Dow Chemical Company, FMC Corporation, and Kemira Oyj, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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