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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 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, etc.
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