Soda Ash Market Overview:
The global soda ash market, as reported by Market Research Future (MRFR), is touted to witness a staggering growth of USD 23.1 Bn with CAGR of 4.9% during the forecast period (2016-2022). Soda ash can be used for various purposes, such as in laundering, in food additives, as the foaming agent in toothpaste, as a stain remover, and others. Its diverse use has given it a more extensive market prospect
Global Soda Ash Market to Escalate due to Demand from Glass and Soap & Detergent Industries
China is the leading soda ash consumer, and the market has influenced diverse international players in considering the region as a market prospect. For instance, Kazan Soda Elektrik, a European soda ash manufacturer is now eyeing China as their possible buyer. Expansion of other end-user industries can also propel the market growth. Recently, French glass manufacturers Saint Gobain has opened a branch in China which can indirectly influence the demand-sale factors.
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Tata Chemicals Limited (India), Searles Valley Minerals (U.S), OCI Wyoming, LLC (U.S), Solvay S.A. (Belgium), Nirma Limited, (India), GHCL Limited (India), and others
Fluctuating price of the raw materials is a key threat making the formulation of a suitable cost-pricing policy difficult. Low-cost natural soda ash produced in the U.S. is exerting pressure on exports. In addition, Europe has decided to shut down a number of synthetic soda ash manufacturing units, which impacts the market negatively.
Geographically, Soda Ash Market can be segmented into North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).
The APAC region accounts for the maximum revenue due to the presence of significant manufacturing companies. Particularly, in China. It mostly satisfies its demand by manufacturing soda ash using Solvay method. India also has an impressive impact and will continue to do so in the near future. The market is now poised to experience better growth. Thriving soap & detergent industry can direct the soda ash market to a new level. Thailand and Indonesia are also emerging as new leaders, which can boost the region’s market prospects.
North America comes second in terms of production and consumption. The U.S. leads the continent and is second only to China. However, there is one big difference. In contrast to China’s manufacturing, soda ash in the U.S. comes mostly from natural sources of district Wyoming.
Europe comes next where the growing soap & detergent industries have created some opening for the otherwise stagnant market. However, much cannot be expected.
Drivers and Restraints:
With rapid urbanization, construction and automotive industries are thriving. Soda ash has a positive impact in these sectors as the component is often used in the manufacturing of flat glasses needed mostly in these two sectors.
Growing awareness regarding health and hygiene across developed and developing countries have spurred the sale of soaps and detergents for cleaning purposes resulting in the increasing demand for soda ash. Water treatment facilities also use soda ash. With rapid urbanization, this intake is also rising, furthering the market growth.
However, the harm done by the manufacturing process of synthetic soda ash and fluctuating price of the natural soda ash can impede the market growth.
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The global soda ash market can be segmented by application. The segments are glass, soaps & detergents, water treatment, chemicals, pulp & paper, and metallurgy. Among these, glass accounts for the maximum share. A remarkable increase has been noticed in recent times in the manufacturing of glass, such as flat glass and container glass. Burgeoning industries, such as automotive and construction, have inspired this new trend. In addition, container glass is needed for pharmaceutical production. To produce glass in such significant quantity soda ash supply is necessary. Hence, domination of glass industry.
Soda ash can gain massive traction during the forecast period in chemicals and metallurgy. It helps in the production of various compounds. Recycling of aluminum and zinc and removal of phosphates and sulfurs need soda ash resulting in the growing demand for soda ash in metallurgy.
The report about Global Soda Ash Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
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