The global caustic soda market is expected to grow with a CAGR between 3.2% and 4.4 % from 2016 to 2022. Caustic soda is also known as lye, sodiumhydrate, and sodium hydroxide. Caustic soda is an inorganic odorless material with strong base and highly corrosive properties. It dissolves in ethanol, methanol, and water. Caustic soda is also available in solid forms such as flakes, granules, and pellets. The sodium further reacts with water in the cells to provide caustic soda and hydrogen. Caustic soda produced by lime soda process has lesser quality. Caustic soda is a good reactant and hence finds application in the extraction of metals such as alumina and zinc. Moreover, it is widely used for the production of various inorganic chemicals. Caustic soda finds several applications as an auxiliary chemical in industries such as pulp & paper, textiles, oil & gas, detergents, cleaning products and others. Additionally, caustic soda finds application for the acids neutralization, pharmaceutical compounds synthesis, and rubber recycling.
Caustic soda garners a share of more than 40% among the inorganic chemicals in terms of volume of consumption worldwide. The increasing demand from end user industries such as pulp, paper, and textiles is expected to the drive the growth of the global caustic soda market. The increasing demand for alumina from the automobile industry is boosting the growth of the global caustic soda market during the estimated period.
The report segments the global caustic soda market by application and region. On the basis of application, the market is segmented as alumina, detergents, food, inorganic chemicals, organic chemicals, pulp & paper, soaps, steel/metallurgy-sintering, textiles, water treatment, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific region is projected to remain as the largest and fastest growing caustic soda market with more than 50% global share. China is the largest consumer and producer of caustic soda. The phenomenal increase in demand from textile industry in countries such as China, India, Taiwan, and Vietnam is expected to drive the growth in the Asia-Pacific market. Going forward, European caustic soda market is expected to experience a moderate growth as the market has attained maturity in this region. North America accounted for approximately 20% share in the global caustic soda market in 2015. The U.S. drives the relatively matured North American caustic soda market. South America is a major exporting destination for the major players in global caustic soda market. The demand for consumer products in the major emerging countries such as Brazil is expected to drive the growth of caustic soda market in South America.Africa is a major untapped market with ample opportunities for major players to expand during the forecast period.
The companies covered in the report include: Formosa Plastics Corporation, Hanhwa Chemical Corporation, Ineos Group Limited, Occidental Petroleum Corporation, PPG Industries, Solvay SA, Tata Chemicals, The Dow Chemical Company, Tosoh Corporation, and Xinjiang Zhongtai Chemical Co. Ltd.