Global Caustic Soda Market Expected to Reach USD 57.39 Billion by 2025: According to BlueWeave Consulting
Published Date | 2018 October 9
According to a new market report published by BlueWeave Consulting, the global caustic soda market was valued at USD 38.44Billion in 2017 and is expected to expand over a CAGR of 5.06% from 2018 to 2025, reaching USD 57.39 Billion by the end of the forecast period. According to the report, Asia Pacific was the largest contributor in terms of revenue to the caustic soda market in 2017.
Alumina being highly in demand from the Automobile Industry is driving the growth of Caustic Soda Industry
Sodium Hydroxide or Caustic Soda as it is commonly known as is a strong alkali which is corrosive and versatile in nature. It is usually used to manufacture Alumina, Pulp & Paper, Soaps and Detergents, Textile industry, Chemical production, etc. One of the largest consumers of caustic soda is the pulp & paper industry since it is used in the process of bleaching papers and pulping. More than half of the caustic soda that is traded is being used in the production of Alumina. The usage of caustic soda is vast with 40% of it used in end-use industries.
Alumina has been increasingly in demand in automobiles, for autos and commercial vehicles, since the benefits it offers are wide, such as the safest, fastest, environment-friendly, as well as cost-effective ways to increase performance, along with boosting the fuel economy and reducing the emissions without compromising the safety and durability has in turn increased the manufacturing of caustic soda since it is one of the essential raw material for the manufacturing of alumina. There has been an increase in the use of aluminium in transportation sector which is supported by increase in the sales of vehicles and higher intensity of aluminium in the manufacturing of trains and new vehicles is consistently developing the demand for caustic soda.
Caustic Soda Market: Scope of the Report
On the basis of region the market is segmented into five parts namely North America, Europe, Asia Pacific, LATAM and MEA. Asia Pacific was the largest region in the global caustic soda market in 2017 with 60.81% market share and it is estimated to grow over a CAGR of 5.13% during 2018-2025.
Caustic Soda Market: Competitive Dynamics
Companies, such as BASF SE, SABIC, Tosoh Corporation, Inovyn ChlorVinyls Limited., and DowDupont are the key players in manufacturing caustic soda which is essential for so many varied markets especially for the pulp & paper industry. In terms of product offerings, Tosoh Corporation and SABIC are the major players in the market, providing caustic soda for various purposes.
Market Segmentation: Global Caustic Soda Market
· Pulp & Paper
· Water Treatment
In addition, the report provides analysis of the caustic soda market with respect to the following geographic segments:
· North America
o The U.S.
o Rest of Europe
· Asia Pacific (APAC)
o South Korea
o Rest of Asia Pacific
· Latin America(LATAM)
· Middle-East & Africa(MEA)
o Saudi Arabia
o South Africa
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