Caustic Soda Market Outlook to 2027 | Top 10 Companies, Trends, Growth Factors,
Posted by priya6007 on September 10th, 2018
Caustic Soda Market Overview to 2027
The global caustic soda market is set to grow moderately at a CAGR of 5.92% over the forecast period (2017-2027), according to an extensive report by Market Research Future (MRFR). The growth witnessed in the alumina industry due to increasing use of aluminum in transportation and pulp & paper industries. Caustic soda is used in bleaching pulp and usage of caustic soda in industries like organic, inorganic, textile and dyes. Also, increasing urbanization across cities, rise in consumer purchasing power, shift of consumer preference towards luxury and comfort are likely to positively influence the market. Increasing demand from the fast-growing chemical industry and rising use in food, pulp & paper industries leave a positive impact on the caustic soda market. High demand in automotive industry for alumina also fuels the market growth.
Some of the key players operating in the caustic soda market are Solvay S.A, Formosa Plastics Group, Gujarat Alkalies and Chemicals, AkzoNobel N.V., and Westlake Chemical Corporation. Players are expanding their production capacity to leverage on latest trends and consumer demands.
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Caustic soda is the co-product in chlorine production. The laws of chemistry define that for every tones of chlorine production, about 1100 kg of caustic soda is also produced, along with 28 kg of hydrogen. The caustic soda is a major building block in many industrial processes. However, because of its chemical and physical properties, it needs to be handled with proper care and professionalism. The global caustic soda market is expected grow moderately and register a value CAGR of 5.92% over the forecast period.
Some of the protuberant drivers supporting the growth of global caustic soda market are identified as, high growth of alumina industry due to increasing use of aluminum in transportation sector as automotive makers are increasingly using aluminium to reduce vehicle weights and curb emissions, rising pulp & paper industries as caustic soda is used as a bleaching agent for the pulp and growing application industries like organic, inorganic, textile and dyes. However, energy-intensive operations and hence low profit margin to the manufacturers & environmental impact of carbon emission is one of the restraining factor for the caustic soda market.
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. However, energy-intensive operations and environmental impact of carbon emission can undermine the market growth across the world. On the other hand, caustic soda is a cost-effective chemical used in water treatment, which can revitalize growth prospects for the caustic soda market.
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.
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