The global caustic soda market reached a volume of 80.7 Million Tons in 2020. Caustic soda, also known as sodium hydroxide (NaOH), refers to an inorganic compound which comprises sodium cations Na+ and hydroxide anions OH−. It is industrially prepared through the electrolytic chlor-alkali process in which the electrolysis of aqueous sodium chloride solution produces chlorine gas and sodium hydroxide. It is an odorless and non-flammable white solid which is commercially available in the form of flakes, pellets, granules and aqueous solutions of different concentrations. Owing to its highly-corrosive nature, it can generate substantial heat and ignite combustible materials when dissolved in water.
Caustic soda is utilized as a raw material in a number of industries including chemical, automotive, water treatment, and food and beverage. On account of its easy availability and affordability over its substitutes, it is regarded as one of the preferred chemical compounds employed to control acidity and remove heavy metals from water. Caustic soda is also used in the production of paper wherein it helps in dissolving unwanted compounds present in the wood pulp. Similarly, it aids in separating the ink from paper fibers during the process of paper recycling. Apart from this, it is used in the extraction of alumina, one of the most common oxides of aluminum, from naturally occurring minerals. As aluminum finds vast applications in the production of lightweight vehicles, the growing demand for the metal is spurring the growth of global caustic soda market. Looking forward, IMARC Group expects the global caustic soda market to exhibit moderate growth during 2021-2026.
The report has also analysed the competitive landscape of the market with some of the key players being The DOW Chemical Company, Olin Corporation, Tata Chemicals Limited, Solvay SA, FMC Corporation, Occidental Petroleum Corporation (OXY), Formosa Plastics Corporation, Ineos Group Limited, PPG Industries, Xinjiang Zhongtai Chemical Co. Ltd., Tosoh Corporation, Hanwha Chemical Corporation, Nirma Limited, Akzo Nobel, BASF, Covestro, DowDuPont, etc.
Key Questions Answered in This Report:
The global caustic soda market reached a volume of 80.7 million tons in 2020.
According to the estimates by IMARC Group, the global caustic soda market is expected to witness a CAGR of 2.50% from 2021 to 2026.
The rising usage of caustic soda to control acidity and remove heavy metals from water across the chemical, automotive, water treatment, and food and beverage industries, represent one of the key drivers for the global caustic soda market.
The expanding utilization of caustic soda in the extraction of alumina that is used in production of lightweight vehicles represents one of the key trends in the global caustic soda market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries of caustic soda.
On the basis of the product type, the market has been bifurcated into lye, flake, and others. Currently, lye holds the majority of the total market share.
On the basis of the manufacturing process, the market has been segmented into membrane cell, diaphragm cell and others. At present, membrane cell exhibits a clear dominance in the market.
On the basis of the application, the market has been divided into alumina, inorganic chemicals, organic chemicals, food, pulp and paper, soap and detergents, textiles, water treatment, steel/metallurgy-sintering, and others. Among these, alumina represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global caustic soda market are The DOW Chemical Company, Olin Corporation, Tata Chemicals Limited, Solvay SA, FMC Corporation, Occidental Petroleum Corporation (OXY), Formosa Plastics Corporation, Ineos Group Limited, PPG Industries, Xinjiang Zhongtai Chemical Co. Ltd., Tosoh Corporation, Hanwha Chemical Corporation, Nirma Limited, Akzo Nobel, BASF, Covestro, DowDuPont, etc.
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