According to the latest report by IMARC Group, titled “Caustic Soda Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global caustic soda market size reached 75.9 Million Metric Tons in 2018. Caustic soda (NaOH), also known as sodium hydroxide or lye, is an inorganic compound which is obtained by the electrolysis of sodium chloride (NaCl). It is an alkali metal hydroxide that exists as a non-flammable, odorless and white crystalline solid. For industrial applications, caustic soda is mostly available as pellets, beads, granules, sticks, flakes and fused masses. Being a versatile alkali, it is utilized as a primary feedstock in chemical manufacturing, metal cleaning and processing; laundering and bleaching; electrolytic extracting; oxide coating; and petroleum refining.
Global Caustic Soda Market Trends:
Caustic soda is used as an essential raw material for the processing and bleaching of paper and pulp. It is also employed for purifying, demineralizing, partial water softening, correcting pH levels, and enhancing flocculant in both the drinking as well as wastewater treatment. Additionally, the soap and detergent industry also utilizes caustic soda in the saponification process, which involves the formulation of sodium hydroxide aqueous solution with oils and fats for producing soaps. Apart from this, caustic soda is used for creating drugs in the pharmaceutical industry, refining and purification of cooking oils and fats in the food industry, and for preparing spinning solutions in the rayon industry. Based on the caustic soda market report, the growing number of alumina refineries across the globe has further fueled the need for caustic soda in extracting alumina from the bauxite ore. As per the caustic soda market forecast, the market is projected to reach a volume of 89.6 Million Metric Tons by 2024, expanding at a CAGR of 3% during 2019-2024.
- Based on the product type, the market has been segregated into lye, flakes and others. Currently, lye dominates the market, holding the largest share.
- On the basis of the manufacturing process, the market has been segmented into membrane cell, diaphragm cell and others.
- The market has been categorized based on the grade into reagent, industrial, pharmaceutical and other grades.
- Based on the application, the market has been classified into alumina; inorganic chemicals; organic chemicals; food, pulp and paper; soap and detergents; textiles; water treatment; steel/metallurgy-sintering; and others.
- Region-wise, the market has been divided into, Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with detailed profiles of the leading players operating in the industry. Some of the key caustic soda market competitors include DOW Chemical Company, Olin Corporation, Tata Chemicals Limited, Solvay S.A., FMC Corporation, Occidental Petroleum Corporation (OXY), Formosa Plastics Corporation, Ineos Group, PPG Industries, Inc., Xinjiang Zhongtai Chemical Co. Ltd., Tosoh Corporation, Hanwha Chemical Corporation, Nirma Limited, Akzo Nobel N.V., BASF SE and Covestro AG.
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