A global research report called Sodium Hydroxide Markets was recently published by Reports and Data to provide guidance for business. The report also focuses on global major leading industry players in the Sodium Hydroxide markets providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue, and contact information. The Global Sodium Hydroxide market is expected to develop at a substantial CAGR in the coming years. The most significant factor driving the growth of this market is rising investments in the market. Investments in the Sodium Hydroxide market have witnessed huge growth over the past few years. This report also states import and export consumption, supply and demand figures, cost, price, revenue, and gross margins.
The report also presents a comprehensive analysis of the global Sodium Hydroxide markets in view of the Covid-19 pandemic. The pandemic has affected the market in terms of sales, production, financial investment, international trade activities, and market disruption. The global Sodium Hydroxide markets are expected to reach USD 68.9 Billion By 2030 from USD 43.8 Billion in 2021 at a CAGR of 5.3%.
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Market Overview:
The chemicals and materials industry produces a massive variety of products consumed by people across the world on a daily basis. While several products, namely detergents, perfumes, soaps, and others are bought directly by the consumers, the others are used as ingredients to make numerous products. For instance, in Europe, nearly 70% of the chemicals that are manufactured are used to make other products. The industry uses a wide range of raw materials ranging from oil, minerals, air, and others. With growing competition among industry players, innovation remains vital in discovering new paths to meet the needs of sophisticated, demanding, and environmentally conscious consumers.
The competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries, which will foster market size in the coming years.
Top Companies Profiled in the Sodium Hydroxide Market Report:
Dow Chemical Company, Tata Chemicals Limited, FMC Corporation, PPG Industries, Tosoh Corporation, Nirma Limited, Hanwha Chemical Corporation, Ineos Group Limited, Formosa Plastics Corporation, and Occidental Petroleum Corporation (OXY), among others
Further key findings from the report suggest
- Sodium Hydroxide is a common name for NaOH (sodium hydroxide) and is also known as lye. The demand for the type of product is forecasted to grow with a CAGR of 5.7% during the forecast period.
- The membrane cell process has intrinsic ecological advantages over the two older methods, as it does not use mercury or asbestos. It is the most energy-efficient process and is incredibly safe to operate, and it produces a consistently high quality of Sodium Hydroxide.
- Industrial grade Sodium Hydroxide is not completely pure. It contains impurities and is used for commercial and industrial purposes. It is not suitable to be used in any food products and can be used for many science fair projects.
- Sodium Hydroxide finds its significant application in the pulp & paper industry. It is used mainly for digesting wood to make wood pulp and also as a bleaching agent to neutralize bleached pulp and paper. Sodium Hydroxide is used for deinking of waste papers.
- APAC dominated the market for Sodium Hydroxide. China leads the consumption demand for Sodium Hydroxide. Moreover, the country is the largest pulp and paper producing nation as a result of the large forest reserves.
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Sodium Hydroxide Market Segmentation, Product Type Outlook:
- Lye
- Flake
- Others
Sodium Hydroxide Market Segmentation, Manufacturing Process Outlook:
- Membrane Cell
- Diaphragm Cell
- Others
Sodium Hydroxide Market Segmentation, Application Outlook:
- Alumina
- Food, Pulp, and Paper
- Organic Chemicals
- Inorganic Chemicals
- Textiles
- Steel/Metallurgy-Sintering
- Soap and Detergents
- Water Treatment
- Others
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