Press release
Global Soda Ash Market is expected to witnessed a significant growth of ~23.1 billion by 2022 with CAGR of ~4.9% between 2018 to 2023.
Soda Ash also known as sodium carbonate or washing soda is white in color and is available both in powder as well as granules form. It is hydroscopic in nature and form odorless alkali chemical solution in water. Soda ash can be obtained naturally as well as by synthetic process. Increasing demand from end user industries such as glass and soap & detergents can foster the overall market growth.
Soda ash has found numerous application such as water softening in laundering, food additive, foaming agent in toothpaste, stain remover and many other. Increasing demand for building and construction activities is likely to drive the soda ash market growth. The growing glass industry on account of developing domestic as well as commercial buildings particularly in Asia-Pacific and Middle East has boosted the global soda ash market over the forecasted period. Soda Ash has ability to control Ph value in water and make it softer has opened its paths in water treatment applications. Market also witnessed significant growth of natural soda ash sue to its low-cost benefits. Stringent regulations from developed regions like Europe regarding production of synthetic soda ash through chemical process has fueled the demand for natural soda ash.
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Key Players
Key players of the global high Soda Ash market are Tata Chemicals Limited (India), Solvay S.A. (Belgium), OCI Wyoming, LLC (U.S), Nirma Limited, (India), Searles Valley Minerals (U.S), GHCL Limited (India), FMC Corporation (US), Ciech SA (Poland), Oriental Chemical Industries (Korea), Soda Sanayii (Turkey) and others.
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Regional Analysis
Geographically, Asia-Pacific region leads the Global Soda ash market. China being largest producer and consumer of soda ash dominates the market segment. Rapid industrialization and huge demand from building & construction activities is likely to drive the soda ash market growth. Growing demand for soaps & detergents, water treatment facility and metallurgy in China, India, Thailand and Indonesia has boosted the soda ash market demand. The growing capacity of natural soda ash from China is due to large number of natural miners compared to U.S. North America is second largest market owing to 90% of production of soda ash comes from state of Wyoming. The Chinese market is likely to witnessed close competition from US market owing to natural soda ash manufacturer with low cost and over dumping of soda ash in Asia-Pacific countries. Europe have witnessed stagnant growth owing to strict regulations for producing synthetic soda ash.
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