Alumina being highly in demand from the Automobile Industry is driving the growth of Caustic Soda Industry
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 the 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. Moreover, caustic soda is used as a bleaching agent and rise inorganic and organic chemical demand which are an integral part of the chemical industry is expected to fuel the caustic soda market. According to the American Chemistry Council (ACC), U.S. chemical production has an overall growth of 1.6 percent in 2016, followed by 3.6 percent growth in 2017 and 4.8 percent in 2018. Due to the growing demand of chemical industry, the Caustic Soda market is also increasing as per the demand.
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.
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.
The global caustic soda market is segmented on the basis of form and application. On the basis of form, the market is segmented into solid and liquid. The solid form of caustic soda was the largest segment in the global caustic soda market in 2017, and is estimated to witness the highest growth during 2018-2025. On the application basis, the market is segmented into Pulp & Paper, Alumina, Organic, Soaps/Detergents, Inorganics, Water Treatment, Textile, Pharma and Others. The Textiles and Pulp & Paper accounted for the largest segment in the global caustic soda market in 2017.
Application of Caustic Soda in Pharmaceuticals is growing over CAGR of 5.75%
It is expected to reach around USD 2,572 million by the end of 2025 owing to its usage in making medicinal products. Sodium Hydroxide used in Pharmaceuticals. During restrictive inspections, producers of biopharmaceuticals and biological products usually give attention to cleaning and cleaning validation of chromatography resins and multiuse purification systems.
Asia Pacific is the largest caustic soda manufacturing region, dominate the caustic soda industry in the world
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. North American Caustic Soda Market is projected to reach at around USD 10,035 million by the end of 2025 due to the growing production capacities along with rising consumption from various end-use industries for Caustic Soda product is anticipated to fuel the market growth
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.
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The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Caustic Soda Market size & forecast. The report promises to provide state-of-the-art technology of Caustic Soda production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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