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Market Overview:The global caustic soda market is expected to exhibit a strong 5.92% CAGR over the forecast period from 2018 to 2027, according to the latest research report from Market Research Future (MRFR). The global caustic soda market is analyzed in detail in the report, including a detailed analysis of the market’s past growth trajectory, present conditions, and probable future course of growth. Major players in the global caustic soda market are also profiled in the report to provide readers with a complete overview of the market’s competitive landscape. The global caustic soda market is expected to reach a valuation of more than USD 63 billion by 2027, according to the MRFR report.
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Caustic soda is an important industrial reagent and is used in several processes in the papermaking, chemical, soapmaking, and textile making industries. The growing demand for caustic soda in these applications is likely to remain the major driver for the global caustic soda market over the forecast period.
The use of caustic soda in alumina production is also likely to be a major driver for the global caustic soda market over the forecast period. Caustic soda plays a vital role in extracting alumina from bauxite, the ore of aluminum. The growing demand for aluminum in the automotive industry is likely to support ancillary industries such as the caustic soda industry in the coming years. The pursuit of lightweight vehicles has led to a growing use of aluminum from automotive manufacturers in recent years. As aluminum is lighter than steel, many automotive manufacturers are incorporating it into their production lines. This is likely to be a major driver for the global caustic soda market, as the growing automotive industry has increased the prospects of the aluminum industry in the coming years.
Caustic soda is also used in critical applications in the pulp and paper industry. The increasing demand for paperboard packaging has sent the pulp and paper industry into overdrive in recent years. Growing use of paper in packaging applications is likely to remain one of the key drivers for the pulp and paper industry in the coming years, leading to a growing demand from the caustic soda market.
Competitive Analysis:
Westlake Chemical Corporation
AkzoNobel NV
Gujarat Alkalies and Chemicals Limited
Tata Chemicals Limited
Xinjiang Zhongtai Chemical Co. Ltd
Occidental Petroleum Corporation
Olin Corporation
DowDuPont
Formosa Plastics Corporation
Solvay
In September 2019, Oxychem and Westlake announced higher Q4 prices for caustic soda, following an industry-wide pattern of increasing prices in Q4 2019.
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Industry Segmentation:
The global caustic soda market is segmented on the basis of type, application, and region.
By type, the global caustic soda market is segmented into lye, flake, and others. The lye segment holds the largest share in the global caustic soda market and is likely to remain the leading revenue generator in the coming years. The segment accounted for close to 67% of the global caustic soda market in 2018 and is likely to exhibit a strong 4.5% over the forecast period.
By application, the global caustic soda market is segmented into alumina, pulp and paper, organic chemicals, inorganic chemicals, textiles, soap and detergents, water treatment, dye and ink, and others. The alumina segment holds the largest share in the caustic soda market and is likely to remain the leading revenue generator over the forecast period due to the growing demand for aluminum from the automotive industry.
Regional Analysis:
Asia Pacific holds a majority share of 52.3% as of 2018 and is likely to remain the leading revenue generator in the global caustic soda market over the forecast period. The regional market is expected to exhibit a strong 5.5% CAGR over the forecast period due to the growing demand for caustic soda in alumina production, pulp and paper making, water treatment, inkmaking, and textiles. Growing soap and detergent production in Asia Pacific is also likely to be a major driver for the global caustic soda market over the forecast period.
North America is the second largest regional market for caustic soda, followed by Europe.
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