What is the global market size of Sodium Hydroxide Market?

Global Sodium Hydroxide Market size was valued at USD 28.73 billion in 2021 and is poised to grow from USD 29.88 billion in 2022 to USD 46.04 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).

Sodium Hydroxide Market Size, Share, Growth Analysis, By Form(Solid and Liquid), By Production Type(Mercury Cells, Membrane Cells, Diaphragm Cells), By Application(Pulp and Paper, Alumina, Organics, Inorganics), By Grade(ACS Grade, Rayon Grade, Food Grade, Laboratory Grade), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2096 | Region: Global | Published Date: July, 2024
Pages: 242 | Tables: 126 | Figures: 77

Sodium Hydroxide Market News

In March 2021, Sodium hydroxide output at Nouryon's plant in Rotterdam will be increased by 90 kilotons annually, the company reported. The company attributed the expansion to an increase in the demand for the chemical on the European market.

In April 2021, in six North American locations, including three that manufacture sodium hydroxide, the Dow Chemical Company announced that the divestment of its rail infrastructure assets had been completed. The action was a part of the company's continuous initiatives to streamline its business processes and improve its asset portfolio.

In May 2021, A new line of environmentally friendly sodium bicarbonate products made using renewable energy sources has been introduced by Solvay. According to the business, the new items will assist customers in lowering their carbon footprint and achieving their sustainability objectives.

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Sodium Hydroxide Market size was valued at USD 29.88 billion in 2022 and is poised to grow from USD 31.075 billion in 2023 to USD 42.53 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

The sodium hydroxide market is highly competitive with a number of key players operating globally. The market is characterized by high demand for the product from a variety of industries, including pulp and paper, textiles, soaps and detergents, and water treatment, among others. By increasing their distribution network, major companies are also focusing on demographic expansion into the undeveloped market. 'Dow Chemical Company', 'Solvay SA', 'AkzoNobel N.V.', 'Formosa Plastics Corporation', 'Occidental Petroleum Corporation', 'Hanwha Chemical Corporation', 'Olin Corporation', 'Tosoh Corporation', 'Axiall Corporation', 'Shin-Etsu Chemical Co. Ltd.', 'Ineos Group Limited', 'FMC Corporation', 'Nouryon', 'Tata Chemicals Limited', 'PPG Industries, Inc.', 'Gujarat Alkalies and Chemicals Ltd.', 'Occidental Chemical Corporation', 'Aditya Birla Chemicals', 'Arkema Group', 'BASF SE'

The production of bleached pulp uses sodium hydroxide, a crucial chemical used in the pulp and paper sector. The demand for sodium hydroxide is rising along with the global demand for paper and packaging products.

The sodium hydroxide market is projected to increase over the coming years as a result of the increased demand for this chemical ingredient across numerous industries. One of the main trends for the sodium hydroxide market is the growing demand for paper and pulp products, which is forecast to increase sodium hydroxide usage. Sodium hydroxide is a crucial component in the pulp and paper sector since it breaks down and separates lignin from wood fibers, which is then used to make paper and other products. The rising demand for soaps and detergents is another significant trend for the sodium hydroxide industry. Because it aids in the process of converting fats and oils into soap, or saponification, sodium hydroxide is employed in the production of soaps and detergents. The demand for sodium hydroxide is anticipated to increase in the upcoming years due to the rising need for cleaning products.

The market for sodium hydroxide is currently dominated by the Asia-Pacific region, and this dominance is expected to continue in the coming years. The region's paper, pulp, and textile industries are driving up need for sodium hydroxide. Moreover, the larger population necessitates more cleaning, recycling, and therapeutic procedures, which ultimately raises the level of sodium oxide. China maintains its position as the world's workshop by ranking highest among the Asia Pacific nations and being both the largest consumer and producer of caustic soda. Due to the abundance of medium-scale producers and stiff competition, it is predicted that China will continue to dominate other countries in terms of supply and demand in the future.

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