Press release
Global Soda Ash Market Size to Grow at a CAGR of 2% in the Forecast Period of 2023-2028
Soda Ash Market
Soda Ash Market Size, Share, Price Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Soda ash is extensively used in the domestic sector owing to its applications in dry soap powders, detergents, and pulp and paper, among others.
The increasing standards of living, rising disposable income, and increasing hygienic consciousness among the population is leading to a greater sale of washing powders, which is in turn improving the soda ash market dynamics.
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The global increase in demand for glass in various applications such as packaging, construction, structure reinforcements, and food and beverage, among others, is further fuelling the demand for soda ash.
Over the forecast period, rapid urbanisation and growing population are expected to improve the construction sector dynamics in the emerging economies, which in turn is anticipated to bolster the demand for glass.
Soda ash facilitates the extraction and smelting process of alumina, which is another crucial soda ash market driving factor.
The increase in demand for alumina is expected in the forecast period owing to its heightened use in the production of piping components, machining tools, wear-resistant pumps, and various construction components. This factor is likely to bolster the demand for soda ash in the coming years.
Soda Ash Industry Definition and Major Segments
Soda ash, also known as sodium carbonate, is a solid chemical compound which belongs to the chlor-alkali family. It is an odourless chemical compound which is used extensively in the industrial and commercial sector. It is highly soluble in water and the increasing domestic uses of this product are propelling the global soda ash market.
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Based on type, the market can be segmented into:
Natural
Synthetic
By application, the market has been divided into:
Glass
Chemicals
Soaps and Detergents
Metallurgy
Pulp and Paper
Others
On the basis of region, the market can be categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Soda Ash Market Trends
The key trends in the global soda ash powder market include the growing research and development activities in the chemical industry to cater to the demands of various end use sectors.
The transition towards eco-friendly chemical components, owing to the stringent policies of various governments aimed towards curbing CO2 emissions, are further boosting the demand for soda ash among chemical manufacturers.
The robust urbanisation and escalation of living standards are improving the accessibility of downstream products of soda ash. Introduction of e-commerce websites is a typical example, which is fuelling the sale of soaps and detergents.
The increasing demand for pulp and paper is another crucial trend in the soda ash market which is expected to witness a steady demand from the education and personal care sectors.
In geographical terms, Asia Pacific accounts for a significant share in the market which is being driven by the growing expansion of the major end use industries of the product. Substantial manufacturing bases in countries like China are further increasing the regional market share for the Asia Pacific.
Key Market Players
The major players in the soda ash market report are Ciner, Sisecam Group, Solvay, Shandong Haihua Group, and Tata Chemicals Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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