Caustic Soda Market by Production Process (Membrane Cell, Diaphragm Cell, and Others) and Application (Organic Chemical, Inorganic Chemical, Alumina, Pulp & Paper, Soap & Detergent, Water Treatment, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global caustic soda market was valued at $36.0 billion in 2018 and is projected to reach $55.8 billion by 2026, growing at a CAGR of 5.50% from 2019 to 2026. Caustic soda, also known as sodium hydroxide and lye, is an inorganic compound composed of sodium cations Na+ and hydroxide anions OH−. It is highly caustic base that decomposes proteins at normal room temperature and can cause chemical burns. Caustic soda is soluble in water and absorbs carbon dioxide and moisture from air. It is used in several applications. In addition, it is used in the manufacturing process of alumina, soap & detergents, pulp & paper, petroleum products, and chemical production.
The global caustic soda market is expected to grow significantly. Its increasing use in applications such as alumina, pulp & paper, soap & detergent, water treatment, and others drive the growth of the market. Further, with growing chemical industry, it is expected that the demand for caustic soda will also increase as caustic soda is used in manufacturing of organic and inorganic chemicals. However, high corrosive and reactive nature of caustic soda is expected to restrain the growth of the market. The global caustic soda market is yet to explore its full potential. Therefore, increase in innovation and development in manufacturing processes of caustic soda is anticipated to provide growth opportunities to the market.
The global caustic soda market is segmented on the basis of production process, application, and region. Based on production process, the market is divided into membrane cell, diaphragm cell, and others. Based on application, the global caustic soda market is categorized into organic chemical, inorganic chemicals, alumina, pulp & paper, soap & detergent, water treatment, and others.
The key players involved in the market include
Dow Chemical Company, Occidental Petroleum Corporation, AkzoNobel, Solvay SA, BASF, FMC Corporation, Eastman Chemical Company, Arkema Group, BAYER AG, and Tata Chemicals Limited. These players are adopting strategies such as product launch, partnership, merger, and acquisition to stay competitive in the market. In an instance, AkzoNobel announced to expand high-purity salt production for manufacturing caustic soda in the Netherlands.
KEY BENEFITS FOR STAKEHOLDERS
Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future scenario of the caustic soda market from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
Major countries in four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and caustic soda market opportunities and their detailed impact analysis is elucidated in the study.
The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Production Process
Pulp & Paper
Soap & Detergent
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Dow Chemical Company
Occidental Petroleum Corporation
Eastman Chemical Company
Tata Chemicals Limited
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