Product ID: SQMIG15A2274
Global Caustic Soda Market Size, Share, Growth Analysis, By Application(Alumina, Pulp & Paper), By Type(Lye and flakes) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2274 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
65 |
Figures:
75
Global Caustic Soda Market Insights
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.
Global Caustic Soda Market Report Snapshots
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