Caustic Soda Market – Worldwide Growth Analysis
Caustic soda is an inorganic compound with an alkali salt of sodium available in the form of pellets and granules. It is also termed as sodium hydroxide and Iye. It is used in many industries as a chemical base to manufacture pulp, paper, textiles, cleaning products etc. The demand from these end user industries has led to a steady growth of caustic soda market.
In addition the growing economies and increasing chemical usages across the industries is the major growth factor for caustic soda industry. The chemical industry uses caustic soda widely as a basic feedstock. The downstream products that consume caustic soda include solvents, plastics, fabrics, adhesives, coatings, herbicides, dyes, inks, pharmaceuticals and more. Pulp & paper industry is the largest consumer of caustic soda. It is being used in the processing of pulp, extraction and bleaching processes. It is also extensively used in the extraction of alumina. Other major applications are in textiles, soaps and detergents, cleaning products, natural gas and petroleum industries among many more.
The report “Global Caustic Soda Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2021” by DecisionDatabases.com segments the market by application and geography and provides the complete analysis of the market drivers, restraints, growth and future trends.
The report anticipates a high demand of caustic soda used in the extraction of alumina which will propel the growth of this market. However, due to its corrosive properties and energy intensive production process the caustic soda market may see a reluctant growth. Another factor hindering the growth of this market is the increasing awareness about the environmental ill – effect caused by the PVC based products. Chlorine is used in the production of PVC products, thus affecting the caustic soda market
Geographically, the market can be segmented as North-America, Europe, Latin America, Asia – Pacific and Middle East. The industrial and economic growth of countries such as China, India, Australia, and Brazil is fuelling the growth of caustic soda market uphill. The concentration of developing countries in the Asia – Pacific region is making it the fastest growing market among others. Moreover Africa is also an untapped market for this industry with lot of opportunities in the region.
The key players in this market are Dow Chemical Company, Olin Corporation, AkzoNobel N.V., Reliance Industries Limited, Occidental Petroleum Corporation, Tata Chemicals Limited, Befar Group Co. Ltd., Xinjiang Zhongtai Chemical Co. Ltd., FMC Corporation, Formosa Plastics Corporation, INEOS ChlorVinyls, and Bayer Material Science AG. The report provides a detailed profile of the above mentioned companies with its latest development updates.
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