2020 Future of Global Caustic Soda Market Size, Share and Trend Analysis Report to 2026- Growth Opportunities, Competition, Forecasts and industry Outlook
MICHIGAN, UNITED STATES, January 10, 2020 /EINPresswire.com/ — Increasing demand of caustic soda for the production of candles, soaps, drugs, homemade biodiesel, frosting glass, chemical experiments, and for making food to drive the market growth.
The over abundance use of caustic soda and its products in various industries to expand the market demand.Future technology improvement helps to consume less and process environmental friendly products.
In addition, usage of caustic soda for scrubbing to neutralize the sulfur dioxide levels in the exhaust gases to impact steadily.
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Performance of caustic soda as a strong alkali compound with many ingredients including zinc and aluminium to propel the product demand in metallurgical applications.
Emerging key market trends of Caustic Soda Market over the forecast period
Rising demand for alumina in the automotive industry is one of the major factors driving the market growth.
Further, the treatment of textile with caustic soda offers greater tensile strength and luster to the fabric resulting in the caustic soda market growth.
Additionally, China produces the largest pulp and paper across the globe with a result of its large forest reserves 21.63% of the land area.
Pape& paperboards is also expected to increase the consumption of caustic soda, to extract aluminum from its ores, thereby augmenting the growth of the market.
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However, increasing R&D activities for the expansion of innovative products and production processes are to provide key opportunities to market players.
Asia Pacific emerges with strong Caustic Soda Market growth
Asia Pacific to lead the regional market share owing to growing end-users and high product demand in emerging economies like India, China, Taiwan, Vietnam.
Furthermore, increasing consumption of the products across end-user industries such as aluminum and textiles to drive the Asian Pacific market. Additionally, demand for organic and inorganic chemicals as well as soaps and detergents to grow at a moderate pace.
China to be the largest producer and consumer of caustic soda in the textile industry for chemical processing. Besides, India is a net importer of caustic soda and over 60 percent of the imports are consumed by the aluminium industry.
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Though,the development in the pulp and paper manufacturing coupled with rising demand from other sectors to up surge the consumption of caustic soda in developing countries of Asia Pacific region.
Key strategies, plant capacity expansions in focus across market players to boost the caustic odamarket growth
Plant capacity expansions, strategic operations, and joint ventures by key market players to drive the market growth.For instance, Olin to save $35m/year in operating costs and realign its production capacity to better meet market demand by closing a chlor-alkali facility and accompanying vinylidene chloride (VDC) facility in Freeport by the end of 2020.
Further, in 2019, Uzbekistan put into operation a new chemical complex built by Chinese companiesChina CAMC Engineering Co., Ltd. and HQC Company to produce caustic soda and other chemicals.
Moreover, in 2019, NUBERG EPC was awarded a contract for the expansion of an existing 45-ton/d Chlor-alkali plant and Greenfield calcium chloride plant project in Oman by Oman Chlorine.
Therefore, Bondalti to reactivatea shutdown plant at Torrelavega to add an additional 76,000 dmt/year in caustic soda capability by 2020.
In Spain, Ercros has expanded its nameplate caustic soda and chlorine production capabilities back to its pre-2017 level with newer, more energy efficient membrane-cell plants to maintain a higher utilisation rate than mercury capacity.
Key market players contributing in the caustic soda market include AkzoNobel NV, Arkema, Covestro AG, DowDuPont, Formosa Plastics Corp, FMC, Grasim (Aditya Birla), Hanwha Chemical Corporation, Inovyn, Kemira, Occidental Petroleum Corporation, Olin Corporation, SABIC, and Shin-Etsu Chemicals Co. Lt among others.
Source: EIN Presswire