Global Caustic Soda Market - Segmented by Production Process, End User Industry and Region - Growth, Trends and Forecast (2018-2023)
The caustic soda market is expected to grow at a CAGR of approximately 6.78% during the forecast period (2018 - 2023). The market is mainly driven by the growing demand from the chemicals industry, the rising demand for alumina in the automotive industry, and the increasing demand for paper and paperboards.
Rising Demand in the Automotive Industry
In recent times, there has been an increasing demand for alumina in automobiles, such as autos and commercial vehicles, as it offers various benefits, such as the fastest, safest, environment-friendly, and cost-effective ways to increase performance, as well as boost the fuel economy and reduce the emissions without compromising the safety and durability. According to The Aluminum Association, aluminum in automobiles saves 44 million tons of CO2 emissions. Therefore, this increasing demand for alumina is driving the caustic soda market as it is used in the manufacture of alumina.
Chemicals are the Dominant End-user Industry Segment
The market is segmented on the basis of the production process and end-user industry. On the basis of the production process, membrane cell process accounts for the largest market share and is expected to grow at a good rate because of the growing advancements in membrane technologies, like the ion-selective membrane, and its easy availability in the market.
On the basis of end-user industry, the chemical industry dominates the market and is expected to grow at a good rate during the forecast period. There has been an increasing demand for organic chemical compounds, as they are used for base-driven hydrolysis or saponification of esters, alkyl halides, and amides, therefore, the demand for caustic soda is expected to increase in this segment.
Asia-Pacific is the Dominant Region
Asia-Pacific is the dominant region and is expected to emerge as the fastest-growing market due to a high product demand, which mainly attributable to the growing end-user industries, like textile the industry in the emerging economies, such as India, China, Taiwan, Vietnam, etc. China is the largest producer and consumer of caustic soda in the Asia-Pacific region.
February 2018: DCM Shriram Ltd approved the investment proposal for the expansion of the caustic soda capacity at the Bharuch (Gujarat) plant with an investment of INR 113 crore and a proposed capacity increase of 186 tons per day. The project is expected to commence in 2019.
January 2018: National Aluminium Company (Nalco) plans to start a second caustic soda plant at Paradip to nullify the volatility in the prices of caustic soda.
Major Players: Arkema Group, DowDupont, FMC Corporation, Kemira,SABIC, Solvay Chemicals, Olin Corporation, and Occidental Petroleum Corporation, among others.
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating production process in the market
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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