Sodium hydroxide, caustic, and lye are also known as Caustic soda. The chemical formula of caustic soda is NaOH when in anhydrous form (100%, solid). It has a molecular weight of 40.00 and is a strong base and is used in almost all kinds of chemical production.
China is one of the major manufacturing regions with 45% of the production market share in the year 2016. China and America are the major consumers of caustic soda and consume nearly 60% of the market share. There was an average growth in the production of caustic soda from the year 2011 to 2016. The global leading manufacturers of caustic soda are Dow Chemical, OxyChem, Axiall, Olin Corporation, Formosa Plastics Corporation and Tosoh. However, there are many more manufacturers of caustic soda all over the world such as EU, North America, China, Japan, India, and others. The market segments purely depend on the production, consumption, revenue, and market share and growth rate of caustic soda. The caustic soda product types are Liquid Caustic Soda, Solid Caustic Soda, Caustic Soda Flake and Caustic Soda Particle. The consumption market is again divided into Pulp and Paper, Textiles, Soap and Detergents, Bleach Manufacturing, Petroleum Products, Aluminum Production and Chemical Processing.
Over 40% of caustic soda is used in end-use industries. Caustic soda has increasing demand in pulp, paper and textile industry is expected to encourage the market growth over the coming years. Caustic soda readily reacts with various substances including zinc and aluminium and is a strong alkali compound. It is also used in metallurgical applications. Moreover, consumption of caustic soda in alumina extraction is further expected for the growth of the market.
The organic segment and textile industry are estimated to be the fastest growing and largest consumer of caustic soda. The organic sector is expected to lose some market shares mainly to textiles by 2024. The textile industry is expected to generate enormous revenue by 2024. Caustic soda is used to remove waxes and oils from the fiber, making the fiber easy to bleaching, dying, etc and also used in manufacturing manmade fibers. Caustic soda treatment enables greater tensile strength and lustre to the fabric.
According to research report, “2012-2023 Report on Global Caustic Soda Market Competition, Status and Forecast, Market Size by Players, Regions, Type, Application” The caustic soda market will witness a steady growth in water treatment, soap & detergents and the demand for cleaning applications in the coming years. In Europe, caustic soda is an important reactant for the production of various organic chemicals and over 25% is consumed. There is a great challenge for market growth of caustic soda and a dangerous environmental impact is expected due to high corrosive and reactive nature of caustic soda.
There is high manufacturing cost involved in caustic soda production and is an energy intensive process. Rise in manufacturing cost, price fluctuation may pose a challenge to the market growth. Asia Pacific is expected to acquire for over 55% market share by 2024 with the increasing production and increase in demand for caustic soda in the Chinese market will be due to the upcoming industries. A steady growth will be observed in North America and will grow at CAGR of 3.2% from 2015 to 2024.
Also the increasing R&D activities towards development of new products using caustic soda and new production processes are expected to provide new opportunities to the competitors. Therefore, there will be a drastic growth over the coming years in the caustic soda market.
Key Topics Covered in the Report:
Global Caustic Soda Market Research
Global Caustic Soda Consumption Analysis
Global Caustic Soda Market Future Outlook
Global Caustic Soda Competition
Asia Pacific Caustic Soda Market Research
Europe Caustic Soda Market Research
North America Caustic Soda Market Research
Middle East Caustic Soda Market Research
Global Caustic Soda Market Analysis
Global Caustic Soda Production Output
Global Caustic Soda Import Export
China Caustic Soda Market Research
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Ankur Gupta, Head Marketing & Communications
Ken Research provides bespoke industry intelligence, equity research reports and business consulting services on gamut of sectors across the globe.