Product ID: SQMIG35I2096
Global Sodium Hydroxide Market Size, Share, Growth Analysis, By Form(Solid and Liquid), By Production Type(Mercury Cells, Membrane Cells), By Application(Pulp and Paper, Alumina), By Grade(ACS Grade, Rayon Grade) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2096 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
126 |
Figures:
77
Global Sodium Hydroxide Market Insights
Global Sodium Hydroxide Market size was valued at USD 28.73 billion in 2021 and is poised to grow from USD 29.88 billion in 2022 to USD 46.04 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
Sodium hydroxide is a crucial chemical in the pulp and paper industry used for the manufacturing of bleached pulp. In addition to the global demand for paper and packaging materials, sodium hydroxide demand is also increasing. Sodium hydroxide is used to make rayon, a synthetic fiber used in the textile industry. The demand for sodium hydroxide is growing as a result of the flexibility, resilience, and environmental friendliness of rayon.
In addition to being used to create aspirin, sodium hydroxide is also used to create anticoagulants, which help to prevent the formation of blood clots, and drugs that decrease cholesterol. The need for these drugs has significantly increased since Covid-19 spread since so many people died from blood clots even after recovering from the condition. The production of metals, the treatment of water, and the production of soaps and detergents all employ caustic soda, so these industries are expected to drive the need for sodium hydroxide in the coming years. However, the costly manufacturing of NaOH and available alternatives like potassium oxide can restrict market expansion.
The market for sodium hydroxide has an opportunity as a consequence of the increasing emphasis on sustainability, which is driving the demand for environmentally friendly products and practices. In order to clean out impurities and pollutants from water, sodium hydroxide is utilized in the process. It is also used to make soaps and detergents that are more eco-friendly. Opportunities for higher efficiency and cost reductions are being generated by the development of new and improved sodium hydroxide manufacturing processes. For instance, significant advancements in energy efficiency and environmental sustainability have indeed been made as a result of the development of membrane cell technology for the production of sodium hydroxide.
US Sodium Hydroxide Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Sodium Hydroxide Market Report Snapshots
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