The global soda ash market is expected to reach USD 25.37 billion by
2024, according to a new report by Grand View Research, Inc. The global soda
ash market is marked by the presence of a few countries such as the U.S. and
Turkey which mine soda using natural resources, while a majority of other
regions such as China; manufacture synthetic soda ash using Solvay process.
The growth of glass industry, particularly in Asia Pacific and the Middle
East on account of increasing construction spending, is also expected to play a
crucial role in the developing the global soda ash market, over the forecast
period. Soda ash is an energy intensive industry, and fluctuating energy prices
are expected to affect the market growth. Strict environmental regulations in
the context of synthetic process for manufacturing soda ash are expected to
hamper the market growth.
Glass emerged as the leading application segment and accounted for 48.2%
of total market volume in 2015. It is also expected to witness the highest
growth of 3.2% over the forecast period. Soaps & detergents are also
expected to witness brisk growth in soda ash demand over the forecast period.
Increasing personal care industry in China, India, and Indonesia on account of
growing disposable income level is expected to drive this segment.
In depth research report
on Soda Ash Market
Further key findings from
the report suggest:
•
The global soda ash market demand was 55.45 million tons in 2015 and is
expected to reach 71.93 million tons by 2024, growing at a CAGR of 2.9% from
2016 to 2024
•
Asia Pacific was the leading regional market and accounted for 54.2% of
global demand in 2015. Increasing industrialization in emerging economies of
China, India, Thailand, and Indonesia is expected to drive the regional market.
•
China, due to established as well as upcoming manufacturing facilities is
likely to head towards overproduction. However, in terms of exports, Asia
Pacific is anticipated to face tough competition from North America due to cost
advantage of the U.S natural soda ash manufacturers. Europe is expected to
witness sluggish growth rate and is expected to reach over 5,500 kilo tons by
2024.
•
The market is expected to witness rise in new players coupled with
increasing demand from Asia Pacific. The soda ash market is likely to
experience production as well as economic shifts, especially in European
countries due to closure of synthetic soda ash manufacturing facilities in the
recent past. Key market players include Tata Chemicals Limited, DCW Limited,
FMC Corporation, Oriental Chemical Industries, Solvay SA, etc.
Grand View Research has segmented the global soda ash market on the basis
of application and region:
Global Soda Ash
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014-2024)
•
Glass
•
Chemicals
•
Soaps & detergents
•
Metallurgy
•
Water treatment
•
Pulp & paper
•
Other
Global Soda Ash Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014-2024)
•
North America
o
U.S.
•
Europe
o
Germany
o
France
o
UK
•
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
•
Middle East & Africa
•
Central & South America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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