Synopsis of Caustic Soda
Caustic Soda (NaOH) as a 50% w/v solution is a colorless and odorless liquid. It is highly corrosive liquid and reacts rapidly with numerous metals such as aluminum, zinc, tin, magnesium, copper, bronze, and chromium. It is used in the pulping and bleaching processes, de-inking of waste paper and water treatment. In the textile industry, it is used to process cotton and dye synthetic fibers such as polyester and nylon. It is widely used in the manufacturing of soap and detergent on account of its unique properties. Moreover, it is utilized as a feedstock for a broad range of products such as adhesives, plastics, solvents, coatings, herbicides, inks, dyes, fabrics, pharmaceuticals, and others.
According to this report Analysis, cumulatively the global caustic soda market is predicted to reach USD 56687.66 million by 2027 expanding at a CAGR of 5.92% during the forecast period of 2017-2027. According to application segment, alumina was the most promising segment accounted for the largest global share of around 18% on account of rising demand in alumina refineries as it is predominantly utilized to separate alumina from bauxite ore. Moreover, increasing pulp demand in paper industries coupled with rising caustic soda consumption is estimated to drive the growth of the market. Furthermore, rising use of aluminum in automotive and transportation sector along with rising vehicle production and sales is estimated to propel the growth of the market. Moreover, caustic soda is used as a bleaching agent and rise inorganic and organic chemical demand which are the integral part of chemical industry is expected to fuel the caustic soda market. Manufacturing of caustic soda is energy intensive which means production cost is high consequently the profit margin remains low. This aforementioned reason is estimated to hamper the growth of the market over the forecast years. Geographically, Asia Pacific emerged as the leading market share, both in terms of value and volume. In Asia Pacific, China accounted for the largest and Japan as well as India is estimated to be the fastest growing market for caustic soda owing to rapid industrialization and continuous growth of numerous end use industries.
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The global caustic soda market is segmented into Asia Pacific, Europe, North America, the Middle East, and Latin America. Among them, the Asia Pacific region is accounted for the largest market for caustic soda followed by North America and Europe. The demand for caustic soda is predicted to surge in various countries of Asia Pacific such as China, Japan, India, Australia, South Korea, and Rest of Asia Pacific owing to continuous growth of soap & detergent and automotive sector. This region provide huge growth potential and is predicted to register the highest CAGR of 6.22% over the assessment period. Some of the prominent factors attributed to the regional caustic soda growth are large number of mineral deposits, continuous growth of alumina industry, inexpensive labor & land cost, ease in availability of raw material, minimal regulatory norms, and continuous shift of manufacturing facilities from matured markets to the developing countries of Asia Pacific. Asia Pacific is followed by North America which is further trailed by Europe in terms of market share. In Europe, Germany accounted for the largest market which is further followed by Russia on account of the emerging pulp and paper industry in this region along with flourishing demand provided by transport sector for alumina. In North America, the U.S emerged as the leading contributor in the regional market share followed by Canada due to increasing end user applications along with active presence of key industry players in this region.
The caustic soda market is categorized on the basis of type, application, and region. On the basis of type, the market is segmented into lye, flake, and other (pellet, prill, and microprill). On the basis of application, the caustic soda market is further classified into alumina, paper & pulp, organic chemical, textiles, soaps & detergents, inorganic chemicals, water treatment, dye & ink, and others. On the basis of region, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the key operating players in the global caustic soda market includes Solvay S.A, Formosa Plastics Group, Olin Corporation, The Dow Chemical Company, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co., Tata Chemicals Limited, Gujarat Alkalies and Chemicals, AkzoNobel N.V, Westlake Chemical Corporation among others.
The report covers brief analysis of geographical region such as:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
The Middle East & Africa
Rest of Middle East & Africa
Global Caustic Soda market is predicted to reach USD 56687.66 million by 2027 with 5.92% CAGR over the assessment period of 2017-2027. Asia Pacific accounted for the largest market share and holds for more than half on account of increasing application industries in this region. In Asia Pacific, China was the dominating country in 2016 and is predicted to retain its dominance over the estimated period on account of continuous growth of numerous end use industries. Among the application segment, alumina accounted for the largest market share of around 18.07% and is continue to retain its dominance over the forecast period due to increasing demand of caustic soda in alumina refineries.
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