“We have produced a new premium report Caustic Soda Market. The report covers the analysis of global as well as regional markets of Caustic Soda. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Caustic Soda Market by application (alumina, detergents, food, inorganic, organic chemicals, pulp & paper, soaps) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. According to the report the Global Caustic Soda Market is projected to grow at a CAGR of 4.8% in terms of value over the period of 2017-2023.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Caustic Soda Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Caustic Soda Market are Formosa Plastics Corporation, Hanhwa Chemical Corporation, Ineos Group Limited, Occidental Petroleum Corporation, PPG Industries, Solvay SA, Tata Chemicals, The Dow Chemical Company, Tosoh Corporation, and Xinjiang Zhongtai Chemical Co. Ltd.”
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The Increasing Demand from End User Industries Such as Pulp, Paper, and Textiles is expected to the Drive the Growth of the Global Caustic Soda Market
Caustic soda garners a share of more than 40% among the inorganic chemicals in terms of volume of consumption worldwide. Demand from the organic chemicals industries account for a significant portion of the volume of caustic soda market. The increasing demand for alumina from the automobile industry is boosting the growth of the global caustic soda market during the estimated period.
Owing to the stringent regulations opted by governments in various countries for many industries for the environmental harm caused by the highly corrosive as well as reactive traits of caustic soda is a major restraining factor hampering the growth of the global caustic soda market. The prospects of global caustic soda market depend on the demand for chlorine, as caustic soda is a co-product obtained during the chlorine manufacturing process. The lower demand for chlorine from PVC manufacturing industry is expected to influence the volume of production of the caustic soda during the forecast period. As production of caustic soda involves higher power consumption, market growth is expected to face a major challenge of higher manufacturing cost. Higher price fluctuation for caustic soda in the commodities spot market is also expected to pose a major restraint for the major players in the market during the forecast period.
South America is a Major Exporting Destination for the Major Players in Global Caustic Soda Market
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
The global market size of chlorine was dominated by the Asia-Pacific region among the geographies. The market size of Asia-Pacific chlorine market was worth USD 15957.4 million in 2016 and it is projected to reach USD 22906.5 in 2023, growing at a CAGR of 5.3% between 2017 and 2023. In terms of volume, the market size of Asia-Pacific chlorine market is projected to reach 58026.6 kilo tons in 2023, growing at a CAGR of 4.4% between 2017 and 2023.
China is the largest consumer and producer of caustic soda. The phenomenal increase in demand from textile industry in countries such as China, India, Taiwan, and Vietnam is expected to drive the growth in the Asia-Pacific market. Going forward, European caustic soda market is expected to experience a moderate growth as the market has attained maturity in this region. North America accounted for approximately 20% share in the global caustic soda market in 2017. The U.S. drives the relatively matured North American caustic soda market. The demand for consumer products in the major emerging countries such as Brazil is expected to drive the growth of caustic soda market in South America. Africa is a major untapped market with ample opportunities for major players to expand during the forecast period. The heavy investments in research and development for the development of efficient production processes as well as new products are expected to create new opportunities for major players in the global caustic soda market during the forecast period.