The global caustic soda market
is expected to reach USD 46.31 billion by 2024, according to a new report by
Grand View Research, Inc. Escalating demand across various industries such as
textile, pulp & paper, organic chemicals, etc. is expected to strengthen
the market growth. Rising demand for alumina in automobile industry especially
in Asia Pacific is considered to stimulate the market growth.
Fluctuating prices due to high
energy consumption and uneven production rates is likely to limit the market
growth. Chlorine production is also expected to influence the caustic soda
market as it is co-produced with chlorine.
Organic chemicals emerged as
the leading application segment and accounted for 16.3% of total market volume
in 2015. Owing to incessant demand for manmade fibers, the textile industry is
expected to emerge as the fastest growing application segment at an estimated
CAGR of 4.4% from 2016 to 2024. Textiles are expected to emerge as the leading
application surpassing organic chemicals over the forecast period.
In depth research report on Caustic Soda Market
Further key findings from the report suggest:
•
Global caustic soda market
demand was 74.57 million tons in 2015 and is expected to reach 99.30 million
tons by 2024, growing at a CAGR of 3.2% from 2016 to 2024
•
Asia Pacific dominated the
global market with demand share exceeding 55% in 2015. Burgeoning textile as
well as pulp & paper industry particularly in China and India is likely to
drive the regional market.
•
Asia Pacific is also expected
to witness the highest growth of 3.5% over the forecast period. China is the
largest producer as well as consumer of caustic soda, and the market growth can
be attributed to high demand from textile and pulp & paper industry within
the nation.
•
North America and European
caustic soda markets are expected to witness moderate growth on account of
market maturity levels. European demand for caustic soda is expected to grow at
an estimated CAGR of 2.8% from 2016 to 2024.
•
Key players in operating in the
global market are anticipated to focus on mergers & acquisitions to expand
their market presence. Cost effective production of caustic soda is considered
to be a major challenge which will influence the market in coming years.
•
Key market players include Dow
Chemical Company, Olin Chlor Alkali Products, AkzoNobel Chemicals, Befar Group
Co. Ltd., Shintech Inc. The global caustic soda industry is fragmented in
nature owing to the presence of a large number of small players concentrated in
China which will witness larger production as well as consumption of caustic
soda in coming years.
Grand View Research has
segmented the global caustic soda market on the basis of application and
region:
Global Caustic Soda Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
•
Alumina
•
Inorganic chemicals
•
Organic chemicals
•
Food and Pulp & Paper
•
Soaps & Detergents
•
Textiles
•
Water Treatment
•
Steel/Metallurgy - Sintering
•
Others
Global Caustic Soda 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.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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