Caustic Soda Market Size, Top Company Overview and Application Estimates, 2024

Felton, Calif., USA, July. 21, 2021 — /EPR Network/ —

The global Caustic Soda Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Caustic Soda Market is anticipated to reach USD 46.31 billion by 2024. Caustic soda is used in bleaching pulp and in verticals such as inorganic, organic, dyes, and textile. Caustic Soda Market is anticipated to grow at a significant CAGR of 3.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Caustic Soda industry may be explored by type, application, and geography.

Key Players:

• FMC Corporation
• Formosa Plastics Corporation
• Hanwha Chemical Corporation
• Ineos Group Limited
• Nirma Limited
• Occidental Petroleum Corporation (OXY)
• Olin Corporation
• PPG Industries
• Solvay SA
• Tata Chemicals Limited
• The DOW Chemical Company
• Tosoh Corporation

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Growth Drivers:

The factors that propel the growth of the caustic soda industry include growing demand from the chemicals manufacturing, the increasing demand for alumina in the automotive industry, and the growing demand with respect to paperboards and paper. On the other hand, there are factors that may hamper the growth of the market including energy-intensive procedure of the production of caustic soda. Caustic Soda Market is anticipated to grow at a significant CAGR of 3.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Application Outlook:

• Alumina
• Inorganic chemicals
• Organic chemicals
• Food and Pulp & Paper
• Soaps & Detergents
• Textiles
• Water Treatment
• Steel/Metallurgy – Sintering

The “Organic Chemicals” segment led the Caustic Soda Market in 2015 and is anticipated to maintain its dominance by 2024. Organic chemicals segment is followed by “Textiles” sector and anticipated to grow at USD 8 billion by 2024.

Regional Outlook:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Central & South America

Asia-Pacific accounted for the major share of the Caustic Soda Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include high product demand; which could primarily be attributed to the textile industry development in the developing countries such as India, China, Taiwan, Vietnam, etc. The demand in this region is estimated to escalate further due to increasing consumption in organic chemicals, soaps & detergents, aluminum, etc. followed by North America region.

Some of the key players that fuel the growth of the Caustic Soda industry comprise Formosa Plastics Corporation, Dow Chemical Company, PPG Industries, Tosoh Corporation, Ineo’s Group Limited, Hanwha Chemical Corporation, Occidental Petroleum Corporation, FMC Corporation, and Solvay SA. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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