Caustic Soda Market Size, Share, Growth Analysis, By Application(Alumina, Pulp & Paper, Soaps & Detergents, Organics), By Type(Lye and flakes), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2274 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 65 | Figures: 75

Caustic Soda Market News

In February 2022 Occidental Petroleum Chemical Division had considered increasing the capacity of Chlor-Alkali plants to produce high quality caustic soda.

In November 2022, US Chemical Olin Corporation and Japanese traders Mitsui and Corporation told the Brazilian Competition Authority that joint venture between them will result in an overlap in the Brazilian and global market for caustic soda.And in the global market for dichloroethane.

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Caustic Soda Market size was valued at USD 39.8 billion in 2021 and is poised to grow from USD 41.5 billion in 2022 to USD 55.5 billion by 2030, at a CAGR of 3.8% during the forecast period (2023-2030).

Competition in the global Caustic Soda Market market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of applications compatible with Caustic Soda Market will also increase. Currently, only major key players are providing their products in the global market but these numbers will increase in the upcoming years. 'The Dow Chemical Company (Dow)', 'Olin Corporation', 'AkzoNobel N.V.', 'Reliance Industries Limited (RIL)', 'Occidental Petroleum Corporation (Oxy)', 'Formosa Plastics Group (FPG)', 'Shin-Etsu Chemicals Co., Ltd. (Shin-Etsu)', 'Axiall Corporation', 'INEOS ChlorVinyls', 'Bayer MaterialScience AG', 'Meghmani Finechem Limited', 'BorsodChem', 'Tata Chemicals Limited', 'Westlake Chemical Corporation', 'Xinjiang Zhongtai Chemical Co. Ltd', 'Gujarat Alkalies and Chemical Limited', 'Covestro AG', 'PPG Industries', 'FMC Corporation', 'Brenntag North America Inc.'

The Caustic Soda Market is a type of key facilitator used in refining of Raw bauxite into white powder alumina that is then smelted to make aluminum. To adopt increasing demand for the Alumina industry there is growing acceptance of Caustic soda.The various applications of aluminum includes construction, transportation and containers & packaging. Along with it, to promote the sustainable use of energy, aluminum presents itself as a great potential in the forecasted period.

One of the vital applications of caustic soda is that it helps in raising the pH of water by absorbing water and carbon dioxide.The increasing water scarcity around the world will surely help the caustic soda market to gain a certain amount of boost.Extreme water stress, water scarcity and strict regulations to treat the contaminate water would drive growth of global market.

Globally, Asia pacific region is estimated to hold the highest global Caustic Soda Market share during the forecasted Year. Increasing interest rates, construction work,expanding chemical industry, and government subsidies, backed by high consumer expenditure is boosting the growth of the market.Implementing business intelligence & analytics solutions, and analytics-based strategies in different industrial companies operating in the region are playing a vital role in driving the market growth.

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Caustic Soda Market Size, Share, Growth Analysis, By Application(Alumina, Pulp & Paper, Soaps & Detergents, Organics), By Type(Lye and flakes), By Region - Industry Forecast 2024-2031

Caustic Soda Market News

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