Sodium Hydroxide Market To Increase at Steady Growth Rate

Sodium hydroxide (NaOH) is a white solid, highly caustic metallic alkali and base of sodium. It is an inorganic compound also known as caustic soda or lye. It is available in granules, solution, flakes, and pellets. The compound is majorly used in drain cleaner, detergents, soaps, drinking water, textiles, pulp and paper, etc. The global sodium hydroxide market is expected to grow at a significant growth rate, attributed to increasing application of the compound for industrial application. The market in Asia Pacific is expected to register a relatively high growth rate over the forecast period, owing to the high growth of paper as well as textile industry across the region.

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The major factors driving growth of the global sodium hydroxide market include growing industries such as food, pharmaceuticals, textiles, construction and paper and pulp across the globe. However, major substitute for sodium hydroxide is potassium hydroxide, which is expected to restrain the market over the forecast period. Additionally, high cost of production of sodium hydroxide is also expected to create negative impact on the market. Companies manufacturing sodium hydroxide products can leverage potential opportunities in regions such as North America, Europe and Asia Pacific, attributed to rapidly growing food and textiles industries, and the trend is expected to continue over the forecast period.

On the basis of geography, the global sodium hydroxide market is segmented into seven regions namely, North America, Western Europe, Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Among the regions, APEJ dominates the global sodium hydroxide market in terms of revenue contribution owing to significant high demand from the pulp and paper industry in the region. APEJ is followed by North America, attributed to high demand for sodium hydroxide for research institutes in the region. Eastern Europe and Japan account for a relatively low value share in the global sodium hydroxide market. Latin America and Middle East & Africa are expected to represent moderate opportunity in the global sodium hydroxide market, owing to the moderately growing economy and industrial sector in the region. Overall, the outlook for the global sodium hydroxide market is positive over the forecast period.

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Some of the players in the global sodium hydroxide market include The DOW Chemical Company, BASF SE, Ciech S.A., Gujarat Alkalies and Chemicals Limited, Kemira Chemicals, Inc., Shandong Haihua Group Co., Ltd., INEOS Newton Aycliffe Ltd., Solvay Chemicals, Tokuyama Corporation, Formosa Plastics Corp., Aditya Birla Chemicals (India) Limited, Saudi Arabia Basic Industries Corporation, Shin-Etsu Chemical Co. Ltd., Tata Chemicals Ltd., LG CHEM, LTD., PPG Industries, Bayer AG, Axiall LLC, Solvay SA, Hanwha Chemical Corporation, Shin-Etsu Chemical Co., and Occidental Chemical Corporation.

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