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The Caustic Soda Market was estimated around USD 87 million in 2020 and anticipated to grow at a CAGR of 6.3%, over the forecast period (2021-2028).
The factors driving growth of the increasing application of caustic soda across end-use industries such as Petroleum, Textile, and Paper industries, growing demand for organic and inorganic chemicals around the world, rise in the production of alumina, and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, favourable Government policies, rise in the number of manufacturing bases, scarcity of freshwater resources, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Caustic Soda Market share. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between etherises, rising disposable incomes and growing population growth rates, are further propelling the Caustic Soda Market size.
However, growth of the Caustic Soda Market is hindered attributed to its harmful effects.
The leading players operating in the market are Olin Corporation, Brenntag North America, Inc., PPG Industries, Inc., Tata Chemicals Ltd., Formosa Plastics Corporation, Aditya Birla Chemicals, FMC Corporation, Hanwha Solutions Chemical Division Corporation, Occidental Petroleum Corporation, and Gujarat Alkalies and Chemical Limited., among others.
Based on Application, the Soap & Detergent segment is predicted to grow at a significant CAGR during the forecast period
According to the Caustic Soda Market Analysis, increasing use of caustic soda to manufacture soaps and different variety of detergents in household and commercial applications, is pushing growth of the segment. As per the report published by United States International Trade Commission, the import of soap and detergent cleaning products across United States has risen by 38% between 2019-20220.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR over the forecast period
According to the Caustic Soda Market Report, growing demand for caustic soda across industry verticals such as Petroleum and Textile, rising adoption of advanced technologies by companies, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Development
In 2020, Brenntag North America, Inc., completed the acquisition of the operating assets of Suffolk Solutions, Inc’s caustic soda distribution business. Through this acquisition, Brenntag North America Inc. linked its distribution network of caustic soda across eastern United States.
Market Segmentation
Segmentation by Application
Alumina
Soap & Detergent
Pulp & Paper
Water Treatment
Inorganic Chemicals
Organic Chemicals
Textiles
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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