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Global Caustic Soda Market to Grow at a CAGR of 3% in 2020-2025
According to a new report by EMR titled ‘Global Caustic Soda Market Report and Forecast 2020-2025’, the global caustic soda market reached a volume of about 78 million metric tons in 2019 and is projected to grow at a CAGR of around 3% in the period of 2020-2025. China, the largest producer of caustic soda, has seen a slump in its exports in the past five years due to an increase in demand domestically amidst supply constraints. This growing domestic demand for caustic soda will lead to an increase of over 60% in China’s per capita consumption of caustic soda in the coming decade.
Caustic soda or sodium hydroxide forms an essential part of the manufacturing process of various products such as paper, aluminium, soaps, detergents, and bleach, among others. It is usually manufactured by the electrolysis of sodium chloride solution (brine). Lime soda process is another method of manufacturing caustic soda where ‘trona’ ore is treated with lime to produce sodium hydroxide. FMC and Solvay, major key players in the caustic soda market, use the lime soda process to produce caustic soda in their Wyoming plants.
The alumina industry is one of the largest emerging consumers of caustic soda, driving the global market growth of the caustic soda industry. The increase in the utilization of caustic soda in the alumina industry is due to a shift by the automotive manufacturers towards aluminium to decrease vehicle weights and to reduce emissions. The caustic soda demand for alumina production in Northeast Asia increased by almost 23% in 2018 as compared to 2017.
Pulp and paper, and chemical industries are other significant industries where caustic soda is finding growing application. Caustic soda is used extensively as an esterification and transesterification reagent and cleaning agent, finding application in the chemical pulping process which involves sulphite, sulphate and soda. It is also used as a bleaching agent in industries like pulp and paper, textile, dye and more.
EMR analysed the global caustic soda market according to applications, and major regions:
- Caustic soda also finds its application in pulp and paper, organic chemicals, inorganic chemicals, soaps and detergents, textiles, alumina and water treatment industries among others.
- Region-wise, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Key findings of the report:
- The pulp and paper, organic chemicals, and inorganic chemicals will be the leading sectors in the forecast period of 2020-2025.
- An increase in the alumina demand in the automotive industry led to a market growth of 3% in 2017 as compared to the previous year.
- The increasing application of caustic soda in the transportation industry will also aid in the market growth between 2020 and 2025.
- The Asia-Pacific region dominates the caustic soda market followed by North America and Europe.
- The EU import grew by about 1.3% in 2017 due to increased demand globally of caustic soda in chemical pulping, waste and recycled water treatment, bleaching and synthesis of other chemicals.
- Globally, there was a 40-45% surge in caustic soda prices in 2017 due to supply constraints caused by strict environmental policies in China, the largest caustic soda producer. The global caustic soda price, however, had started stabilising by 2019.
Key offerings of the report:
- The report by EMR provides an analysis of the market according to the types of caustic soda and their application based on demand.
- The report analyses the market according to the region-wise production and consumption of caustic soda.
- It provides the trade data analysis of the import and export of caustic soda and its feedstock.
- It also provides the price trends for caustic soda and its feedstock in 2019 as well as their market outlook in the forecast period of 2020-2025.
- The report proffers a price analysis of the manufacturing process and gives you a fair survey of the competitive landscape.
According to EMR, the key players in the global caustic soda market are Arkema Group Co., Covestro AG (Formerly Bayer MaterialScience AG), The Dow Chemical Company, FMC Corporation, Kemira Oyj, SABIC and Solvay Chemicals Inc. The report provides latest information regarding expansions in capacity, plant turnarounds, mergers and acquisitions of these major players in the caustic soda market.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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