Product ID: SQMIG15A2274
Report ID: SQMIG15A2274 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 65 | Figures: 75
Caustic Soda Market size was valued at USD 39.8 billion in 2021 and is poised to grow from USD 41.5 billion in 2022 to USD 55.5 billion by 2030, at a CAGR of 3.8% during the forecast period (2023-2030).
Caustic Soda Markets are vital in several processes such as making drugs and bauxite purification to food related industries and oil refining. Major food processing applications are provided by the caustic soda. For instance, it is widely used in olive treatment , along with it , Caustic soda helps brown pretzels to gain the crunchy characteristic and to remove the skin from fruits and vegetables for the process of canning.
The companies in caustic soda are primarily focusing on this type of applications which along with food processing includes alumina pulp paper soaps and detergents. Increase in the market of chemical productions and petroleum products has majorly driven the market. Catering to the augmented demand ,key players in the caustic soda market are primarily focusing on capacity growth and joint ventures in the emerging markets.After the decline in market share during the COVID-19, major manufacturers of this market should focus on various innovations of new products and increasing the production process through technological advancement.
Europe has seen the major price hike of caustic soda during recent times due to the Increase in natural gas and electricity prices.In comeback of the U.S. economy, recovery rate of caustic soda market was lower than expected, due to the various circumstances including deep freeze which impacted demand and predictions.Transportation costs and long lead time, along with production cuts in us the market had the severe negative impact on it.
US Caustic Soda Market is poised to grow at a sustainable CAGR for the next forecast year.
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Caustic Soda Market is segmented on the basis of application, Type, and region. By application, the market is segmented Alumina, Pulp & Paper, Soaps & Detergents, Organics, Inorganics, Water Treatment, and Others. By type, the market is segmented into Lye and flakes. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Caustic Soda Market Analysis by Application
By application, the global market is divided into many segments such as Alumina, Pulp & Paper, Soaps & Detergents, Organics, Inorganics, Water Treatment, and Others.Organic segment will lead the caustic soda market due to the increase usage in production of chemicals. In FY 2022,the chemical industry segment of Caustic Soda market was the leading segment and consumed roughly around 28% of total market share.Caustic soda serves various applications such as pharmaceuticals and medicines in textile industry for soaring and pH level controller, in energy sector, in food production,wooden paper products.
Caustic Soda Market Analysis by type
By vertical, the Caustic Soda Market market is classified into Lye and Flakes. Increasing demand for the lye segment has led it to hold a significant market share of alumina and pulp & paper industries. India has been the emerging market for caustic soda Lye. The major caustic soda Lye heavily lies in the eastern region due to the presence of several leading alumina industries like Utkal Alumina Nalco in the eastern states of Odisha.
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Globally, Asia pacific region is estimated to hold the highest global Caustic Soda Market share during the forecasted Year. Increasing interest rates, construction work,expanding chemical industry, and government subsidies, backed by high consumer expenditure is boosting the growth of the market.Implementing business intelligence & analytics solutions, and analytics-based strategies in different industrial companies operating in the region are playing a vital role in driving the market growth.
In the Asia Pacific Market, China accounted for the major shares due to the expansion of the end use industry.Aditya Birla Chemicals Limited and Gujarat alkalies and Chemicals Limited are the major manufacturers in India.These two manufacturers help the emerging Indian market to drive successfully in forecasted period.
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Caustic Soda Market Drivers
Surge in Demand for Alumina will Propel Market Growth
Caustic Soda Market Restraints
Critical Negative effects on environment and human health.
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Competition in the global Caustic Soda Market market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of applications compatible with Caustic Soda Market will also increase. Currently, only major key players are providing their products in the global market but these numbers will increase in the upcoming years.
Caustic Soda Market Top Player’s Company Profiles
Caustic Soda Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Caustic Soda Market market analysis, the global market is estimated to have significant growth during the forecast period because of the surge in demand for contaminated water treatment along with its rising demand for alumina across the globe. Caustic Soda Market will enable a variety of services to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
|Market size value in 2021||USD 39.8 billion|
|Market size value in 2030||USD 55.5 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Caustic Soda Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Caustic Soda Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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