Caustic Soda Market Size, Share, Analysis, Industry Report and Forecast 2020-2027, Fortune Business Insights™
Caustic  Soda  Market  Size, Share, Analysis, Industry Report and Forecast 2020-2027, Fortune Business Insights™
Caustic Soda Market Size, Share, Analysis, Industry Report and Forecast 2020-2027, Fortune Business Insights™

The global  caustic soda market   is setto gain momentum from its increasing usage as awater treatmentchemical. It canabsorb water and carbon dioxide and surge its pH level. This information isgiven by Fortune Business Insights™ in a new report, titled, “Caustic SodaMarket Size, Share &COVID-19 Impact Analysis, By Application (Organics,Alumina, Soaps, Water Treatment, Food, Inorganics, Paper & Pulp, andOthers), and Regional Forecast, 2020-2027.” The report further states that the marketsize was USD 44,959.2 million in 2020 and is projected to reach USD 55,557.7million by 2027, exhibiting a CAGR of 3.1% during the forecast period.

COVID-19Pandemic: Low Aircraft &Automobile Manufacturing to Obstruct Growth

The demand for caustic soda experienced a declineamid the COVID-19 pandemic. As it is extensively used in chemical, pulp &paper, and water treatment industries globally, shortage of workforce and stringentlockdown measures affected their usage. Also, a slowdown in aircraft andautomobile manufacturing has hampered growth. Our detailed research reportswill help you gain a complete insight into the industry for choosing theappropriate investment area.

What DoesThis Report Contain?

This report includes in-depth informationassociated with change in material usage, new product launches, andtechnological advancements. It provides market dynamics based on variousfactors, such as opportunities, challenges, drivers, hindrances, and dynamics.At the same time, it will deliver a complete insight from the supply siderespondents related to market share, distribution, and size.

Drivers& Restraints-

Increasing Demandfrom Building &Construction Industry to Aid Growth

The International Aluminum Institute declaredthat in 2020, the total alumina production was 131,910 thousand metric tons.Sodiumhydroxideis considered to be a significant ingredient for alumina production. Itis therefore mainly demanded by containers & packaging, transportation, andbuilding & constructionindustries. Besides, the usage of hybrid cars is setto surge in the upcoming years because of their ability to enhance fueleconomy. The metal can also reduce the weight of vehicles. These factors areset to propel the caustic soda market growth in the near future. However, causticsoda is highly corrosive which can cause severe damage to eyes. It may hindergrowth.


OrganicsSegmentto Remain at the Forefront Stoked by Usage in Ceramics and Paints

Based on the application, the organics segmentgenerated the largest caustic soda market share in 2020. This growth isattributable to the increasing usage of this inorganic sodain the manufacturingof ceramics, glass, and paints. It is also used in theproduction of cosmeticsand fuel cells.


Rising GovernmentSubsidies to Favor Growth in Asia Pacific

Geographically, Asia Pacific held USD 25,280.17million in terms of revenue in 2020. The region would lead the marketthroughout the forthcoming years on account of the increasing consumerspending, interest rates, construction activities, and government subsidies. In2020,Europe and North America procured more than 25% of the global market. Inthe U.S., prominent manufacturers have started inclining rapidly towardsmembrane technology from diaphragm or mercury cell process.


Key PlayersFocus on Acquisition Strategy to Gain a Competitive Edge

The global market is fragmented with the presenceof a large number of prominent companies operating domestically andinternationally. Most of them are striving to gain a competitive edge by acquiringlocal firms. Some of the others are increasing prices of sodium hydroxideto fulfilthe high demand. Below are the two latest industry developments:

·        March 2020:Brenntag acquired thedistribution business of Suffolk Solutions, Inc. It will help the former toenhance its position in the Eastern U.S. and strengthen its supply chain.

·        February 2020:OxyChem surged theprice of caustic soda to $40/dst. Economic slowdowns in Europeand China have resulted in tremendous pressure on the price of this chemicalcompound. It has alsoincreased the demand from numerous sectors.

A list ofall the renownedcaustic soda manufacturers operating in the global market:

·        Olin Corporation (Clayton, Missouri, United States)

·        Tata Chemicals Limited (India)

·        Aditya Birla Chemicals (India) Limited (India)

·        Gujarat Alkalies and Chemical Limited (India)

·        Occidental Petroleum Corporation (OXY) (Houston, Texas, United States)

·        Formosa Plastics Corporation (Taiwan)

·        PPG Industries (Pittsburgh, Pennsylvania, United States)

·        Xinjiang Zhongtai Chemical Co., Ltd. (China)

·        Hanwha Chemical (South Korea)

·        Brenntag North America, Inc. (North America)

·        Other Key Players


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