The global soda ash market is expected to record an estimated CAGR of 1.79% over 2019

New York, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soda Ash Market - Growth Trends and Forecast (2019 - 2024)  " - https://www.reportlinker.com/p05865959/?utm_source=GNW
A major factor driving the market studied is the increasing demand for flat glass in the construction industry. On the flipside, environmental hazards from the pulp and paper industry may hamper the market growth. The availability of substitutes may also affect the demand for soda ash.

Key Market Trends
Increasing demand from Glass application

Soda ash is used to manufacture various types of glasses, such as flat glass (which is majorly used in automotive and construction), glass container (which is majorly used in the food and beverage industry), technical glass, foam glass, and specialty glass. As soda ash is the chief source of the alkali constituent of glass, it is increasingly used in the glass manufacturing industry. Sodium carbonate introduces sodium oxide or soda into the glass formulation. The soda acts as a fluxing agent, breaking the Si-O bonds of silica, thus, reducing the viscosity of the melt and lowering the temperature required to form the glass.

Europe has over 162 glass manufacturing plants and produces more than 20 million metric ton of glass packaging. In China, according to the Ministry of Industry and Information Technology, the plate glass industry performed well in 2018, with the industry’s revenue extending to USD 11.31 billion, an increase of 7.2% from 2017. SImilarly, production of glass in North America also increased though the years, Saint-Gobain is expected to open a new float production line in Saltillo, Mexico, which is scheduled to be operational in 2020. Overall, with the construction, automotive, and consumer packaged goods industries employing new technical and functional requirements for their glass products, the demand for soda ash may increase through the years.

Asia Pacific to Dominate the Market

China is one of the largest producers of soda ash in the world. Around 1.4 million metric ton of soda ash is being shipped on vessels yearly from China. The production capacity of soda ash in the country is around 29.7 million metric ton, and demand was around 25.53 million metric ton in 2018.
According to GHCL Limited, the total soda ash installed capacity in India was about 4.0 million metric ton, with a production of about 3.2 million metric ton in the last financial year (2018-19), and about 22% of the demand is being achieved by imports.

Owing to the growing construction industry activities in the Japan, the demand for flat glass is increasing. Moreover, in Japan, pharmaceutical and beverage industries are also driving the demand for container glass. All such factors are expected to increase the demand for soda ash in the country during the forecast period.
All the aforementioned factors are expected to increase the demand for soda ash during the forecast period.

Competitive Landscape
The global soda ash market is fragmented in nature in terms of production capacity. The top five players in the market studied include Solvay, Ciner Resources Corporation, Tata Chemicals Ltd, Genesis Energy LP, and Shandong Haihua Group Co. Ltd.

Reasons to Purchase this report:
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Read the full report: https://www.reportlinker.com/p05865959/?utm_source=GNW

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