Press release
Caustic Soda Market Trends by Key Players: Xinjiang Zhongtai Chemical Co. Ltd.,PPG Industries,Tosoh Corporation, Dow Chemical Company, Hanwha Chemical., FMC Corporation, Kemira, Solvay SA, Bayer MaterialScience., FMC, Arkema and SABIC
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The caustic soda market is estimated to witness growth from 2017 to 2024. The growth is primarily contributed by its increasing application in chemical industry as well as rising demand for alumina in automotive industry. Further increasing demand for paper & paperboard across the globe is driving the caustic soda market during the forecast timeframes.
Caustic soda is primarily used in various industrial application. The major consumption is driven by wide application in household products such as detergent, it is basic raw material for cleaning drain and oven. It is a kind of basic chemicals used for various kinds of chemical production, which is reactive and corrosive in nature. Caustic soda is used for manufacturing alumina, inorganic & organic chemical, pulp & paper, textiles, detergent as well as used for water treatment.
The demand for pulp and paper is increasing due to rising domestic household tissue paper requirements, application of pulp and paper in printing and writing paper is also growing which will boost the demand for caustic soda. Growing usage of magazine and newspaper across the globe is positively impacting the caustic soda market. Moreover, textile industry is expanding owing to technological development and pouring investment, hence these factors are propelling overall market growth in coming years.
It serves as strong alkali chemical substance and easily reacts with several other substances which includes aluminum and zinc which will further grow metallurgical applications. These factors along with rising demand for chlorine and growing technological advancement for processing caustic soda is projected to drive the market demand over coming years. Moreover, the caustic soda market is forecasted to grow alumina extraction has increased the consumption pattern of caustic soda.
Asia Pacific dominates the major market share for global caustic soda by the end of 2016, whereas North America is estimated to be one of the fastest growing region over 2024. Industrialisation and growing consumer demand in developing economies like Japan, China and India are some of the factors which are anticipated to drive the Asia Pacific market in the coming years. In Europe highest volume of caustic soda is used as essential reactant for manufacturing organic chemical.
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Top key players:
The size of global caustic soda market is predicted to be highly competitive. Some of the primary companies in the market are Nirma Limited, Occidental Petroleum Corporation, Olin Corporation, Formosa Plastics Corporation, Xinjiang Zhongtai Chemical Co. Ltd.,PPG Industries,Tosoh Corporation, Dow Chemical Company, Hanwha Chemical., FMC Corporation, Kemira, Solvay SA, Bayer MaterialScience., FMC, Arkema and SABIC.
Market share calculation in this report is not done based on companies covered in it. The calculation of Caustic Soda Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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