Global Caustic Soda Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Caustic Soda Market: Overview
“The global Caustic soda market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Caustic soda, also known as lye or sodium hydroxide (NaOH) and is mostly used in many industrial and household applications. Caustic soda is used in the manufacturing of inorganic chemicals, textiles, alumina, pulp & paper, detergent, soaps, bleach, and water treatment.
It is a basic chemical that is used for various types of chemical production, due to its corrosive and reactive nature. There are two types of caustic soda such as pure caustic soda and impure caustic soda. Pure caustic soda is used for making soap and candles whereas impure caustic soda is used to clean ovens and drains.
Global Caustic Soda Market: Dynamics
Rising demand for soaps and detergent in household applications and growing applications in the chemical industry across the globe are driving the caustic soda market during the forecast period.
Increasing demand for caustic soda in the pulp and paper industry, coupled with rising demand for paper, and growing usage of newspapers and magazines across the globe is another factor expected to drive the growth of the caustic soda market in the years to come.
Additionally, rapid industrialization, coupled with the growing textile industry, increasing R&D investment, and technological advancements for new and cost-effective products are among some of the other factors expected to propel the growth of caustic soda in the next coming years.
Furthermore, increasing demand for caustic soda in the food and pharmaceutical industries is also a factor expected to support revenue growth of the potential market to a significant extent.
However, regulations and statutes on the use of caustic soda are stringent, owing to the toxic effect on human health and the environment is a major factor expected to restrain the global caustic soda market.
Global Caustic Soda Market: Segment Analysis
Among the application segments, the paper and pulp segment is expected to register the highest share in terms of revenue in the caustic soda market.
This is attributable to the increasing usage of caustic soda in the paper and pulp industry for processing Kraft pulps and the extraction of lignin that binds the fiber. In addition, it is useful in the pulping and bleaching processes, and neutralization of effluent streams.
Global Caustic Soda Market: Regional Analysis
The Asia Pacific market is expected to account for a major revenue share in the global market over the forecast period. Rapid industrialization, coupled with growing paper and pulp, textile, and pharmaceutical industries are factors driving the growth of the target market in the next coming years.
China is anticipated to account for considerable revenue share in the target market, followed by India. The market in Europe is expected to register the fastest growth rate in the global market, owing to the high usage of caustic soda in the chemical and pharmaceutical industries.
The market in North America is expected to contribute to a moderate growth rate in the global market, due to growing demand in various applications and the presence of prominent players in countries in the North American region.
Global Caustic Soda Market Segmentation:
Segmentation by application:
- Inorganic Chemicals
- Pulp & Paper
- Soaps and Detergents
- Others (Steel/Metallurgy- Sintering, Water Treatment, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Nirma Limited
- Occidental Petroleum Corporation
- Olin Corporation
- Formosa Plastics Corporation
- Xinjiang Zhongtai Chemical Co. Ltd.
- PPG Industries
- Tosoh Corporation
- Dow Chemical Company
- Hanwha Chemical.
- FMC Corporation,
- Solvay SA
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