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South Korea Caustic Soda Market Size, Price, Trends, Forecast: By Production Process: Membrane Cell, Diaphragm Cell, Others; By End Use: Battery (ESS), Pulp and Paper, Organic Chemical, Inorganic Chemical, Soap and Detergent, Alumina, Water Treatment, Textile, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
South Korea Caustic Soda Market Outlook
The South Korea caustic soda market size is projected to grow at a CAGR of 3.30% between 2024 and 2032.The major drivers of the market include presence of strict environmental regulations, growth of the aluminium manufacturing industries in South Korea, and increasing demand for wastewater treatment.
Key Trends in the Market
Caustic soda, also known as lye, is a chemical compound that is corrosive in nature and is used for various applications such as manufacturing of soap or cleaning drains. The chemical name of this inorganic compound is sodium hydroxide and it is highly soluble in water and absorbs carbon dioxide and moisture from air.
- Various innovations such as increased emphasis on handling and delivery of caustic soda, recycling and reuse of caustic soda, and replacement of mercury cells with environmentally friendly technologies such as diaphragm and membrane cells is boosting the South Korea caustic soda market demand.
- The demand for caustic soda in South Korea from end use industries is rising. This increase can be attributed to the growing applications of caustic soda in various petrochemical processes, including the production of vinyl chloride and ethylene dichloride monomers. The demand for caustic soda is also increasing from the textile industry as it aids in the mercerisation of rayon and cotton.
- Integration of digital technologies such as data analytics and advanced monitoring systems in the caustic soda production plants has helped improve the manufacturing process control and efficiency. These advancements enable real time optimisation which result in enhanced streamlined operations.
South Korea Caustic Soda Market Analysis
Based on production process, the market is divided into membrane cell and diaphragm cell, among others. By end use, the market is categorised into battery (ESS), pulp and paper, organic chemical, inorganic chemical, soap and detergent, alumina, water treatment, and textile, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea caustic soda market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Hanwha Solutions Co., Ltd.
- LG Chem, Ltd.
- Dow Chemical Korea Ltd
- LOTTE Fine Chemical
- Tokuyama Corporation
- Others
Market Share by Production Process
Membrane cell is expected to account for a significant South Korea caustic soda market share owing to its growing popularity in various biomedical applications. The improved energy efficiency and reduced environmental impact of the membrane cell process compared to the diaphragm cell process is yet another major factor driving the segment growth. Use of membrane cell also eliminates the requirement for mercury, making membrane cell technology more environment friendly.
Market Share by End Use
Pulp and paper hold a significant share of the market owing to the rising applications of caustic soda in the pulping processes. Caustic soda is widely used in the pulp and paper industry to break down the lignin and separate the cellulose fibres from wood. The efficient production of high-quality pulp for papermaking while minimising both the environmental impacts and the production of waste is further boosting the South Korea caustic soda market growth.
Competitive Landscape
Hanwha Solutions Co., Ltd. was founded in 1965 and is headquartered in Seoul, South Korea. The renewable energy semiconductor manufacturing company specialises in petrochemical, solar energy, advanced material, and hydrogen, among others.
LG Chem Ltd. is a chemicals company that was founded in 1947 and is headquartered in Seoul, South Korea. The company is known for manufacturing and marketing IT and electronic materials, petrochemicals, and energy solutions.
Dow Chemical Korea Ltd was established in 1975 and has its headquarters located in Seoul, South Korea. The company is indulged in the manufacturing of chemical products such as epoxy resins, caustic soda, and chlorine.
Other South Korea caustic soda market key players include LOTTE Fine Chemical, and Tokuyama Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Production Process |
|
| Breakup by End Use |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Caustic Soda Market Overview
8.1 Key Industry Highlights
8.2 South Korea Caustic Soda Historical Supply Capacity (2018-2023)
8.3 South Korea Caustic Soda Supply Capacity Forecast (2024-2032)
8.4 South Korea Caustic Soda Historical Demand (2018-2023)
8.5 South Korea Caustic Soda Demand Forecast (2024-2032)
9 South Korea Caustic Soda Market by Production Process
9.1 Membrane Cell
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Diaphragm Cell
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Others
10 South Korea Caustic Soda Market by End Use
10.1 Battery (ESS)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Pulp and Paper
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Organic Chemical
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Inorganic Chemical
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Soap and Detergent
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Alumina
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Water Treatment
10.7.1 Historical Trend (2018-2023)
10.7.2 Forecast Trend (2024-2032)
10.8 Textile
10.8.1 Historical Trend (2018-2023)
10.8.2 Forecast Trend (2024-2032)
10.9 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Data Analysis (HS Code: 281511, 281512)
13.1 Major Exporting Countries:
13.1.1 By Value
13.1.2 By Volume
13.2 Major Importing Countries
13.2.1 By Value
13.2.2 By Volume
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Hanwha Solutions Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 LG Chem, Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Dow Chemical Korea Ltd
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 LOTTE Fine Chemical
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Tokuyama Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Caustic Soda Market: Key Industry Highlights, 2018 and 2032
2. South Korea Caustic Soda Historical Market: Breakup by Production Process (USD Million), 2018-2023
3. South Korea Caustic Soda Market Forecast: Breakup by Production Process (USD Million), 2024-2032
4. South Korea Caustic Soda Historical Market: Breakup by End Use (USD Million), 2018-2023
5. South Korea Caustic Soda Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Major Exporting Countries by Value
7. Major Importing Countries by Value
8. Major Exporting Countries by Volume
9. Major Importing Countries by Volume
10. South Korea Caustic Soda Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 3.30% between 2024 and 2032.
The major market drivers include strict environmental regulations, growth of the aluminium manufacturing industries in South Korea, and increasing demand for wastewater treatment.
The key trends fuelling the growth of the market include integration of digital technologies in caustic soda production plants, rising demand from end use industries, and innovations in packaging and delivery of caustic soda.
The major production processes include membrane cell and diaphragm cell, among others.
The significant end uses of caustic soda include battery (ESS), pulp and paper, organic chemical, inorganic chemical, soap and detergent, alumina, water treatment, and textile, among others.
The chemical name of caustic soda is sodium hydroxide.
Caustic soda is used for manufacturing cleaning products including detergents and soaps, among others.
The key players in the market are Hanwha Solutions Co., Ltd., LG Chem, Ltd., Dow Chemical Korea Ltd, LOTTE Fine Chemical, and Tokuyama Corporation, among others.
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