A new report added to the online inventory of Wise Guys Reports (WGR) reveals that the global caustic soda industry market is set to capture a compound annual growth rate (CAGR) of 5.92% between 2019 and 2027. Caustic Soda market is expected to reach to USD 56687.66 million.
Caustic soda which is also known as sodium hydroxide (NaOH) is an inorganic compound which includes sodium cations Na+ and hydroxide anions. Caustic soda is used as a raw material at various industries including chemical, automotive, water treatment, and food and beverage.
Caustic Soda is easier to use and is quite affordable as well as compared to its substitutes, which is thus increasing the market size of caustic soda industry across the globe. Also, it is considered as one of the preferred chemical compounds used to control acidity and remove heavy metals from water. The increased pulp demand in paper industries along with rising caustic soda consumption is estimated to fuel the market in the forthcoming years.
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Global Caustic Soda Market: Segmental Analysis
Market Analysis by Players: This report includes following top vendors in terms of company basic information, product category, sales (volume), revenue (Million USD), price and gross margin (%).
Formosa Plastics Corporation
Aditya Birla Chemicals
Joint Stock Company Kaustik
By type, the market has been divided into liquid Caustic Soda, Solid Caustic Soda, Caustic Soda Flake and Caustic Soda Particle
Based on application, the market has been segmented into Pulp and Paper, Textiles, Soap and Detergents, Bleach Manufacturing, Petroleum Products, Aluminum Production and Chemical Processing.
Global Caustic Soda Market: Regional Analysis
On the basis of region, the caustic soda market has been divided into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). In North America, countries such as the U.S. and Canada are covered. In Europe, countries such as the UK and Germany are covered. In APAC, countries such as Japan, China and India are covered. In Latin America, countries such as Brazil and Mexico are covered. The Asia Pacific region accounts for the largest market share for caustic soda followed by North America and Europe. The demand for caustic soda is anticipated to increase in various Asia Pacific countries such as China, Japan, India, Australia, South Korea, and Rest of Asia Pacific which is mainly due to continuous growth of soap & detergent and automotive sector. Some other prominent factors attributed to the growth of caustic soda market in the region include large number of mineral deposits, continuous growth of alumina industry, cheap availability of labor & land cost among many other favourable factors responsible for the caustic soda growth in developing countries of Asia Pacific.
In Europe, Germany holds a significant market share which is followed by Russia; the surge is the caustic soda demand in these countries is due to growing pulp and paper industry in this region along with growing demand provided by transport sector for alumina. In North America region, the US emerged as the leading contributor in the regional caustic soda market share which is mainly due to increasing end user applications along with presence of leading industry players in the US.
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