Selbyville, Delaware, May 07, 2020 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the caustic soda market size was estimated at $30.27 billion in 2019 and is predicted to exceed $32.06 billion by 2026, recording a CAGR of 3.6% from 2020 to 2026. The report gives a complete analysis of the top winning strategies, major investment pockets, wavering market trends, drivers & opportunities, competitive scenario, industry size & estimations.

Caustic soda (Sodium hydroxide) is produced while producing chlorine during the electrolysis of sodium chloride. Caustic soda is used by many important end-use industries such as chemical, paper & pulp, food, soap & detergent, water treatment, metal industry, textile, pharmaceutical, rubber industry, etc. As the product is used in various end-user industries, the demand stays stable and is growing. The product is highly consumed in the production of household products such as detergents, soaps, and cleaning products. Therefore, population growth, urbanization, rising household income, and improving economy have a positive impact on the overall caustic soda market demand.

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The market is segmented into production technology types including mercury cell, membrane cell, and diaphragm cell. Mercury cell technology has witnessed substantial reduction over the past decades. This is attributed to mercury pollution tied with the production process. Additionally, mercury cell consumes much higher energy for the production of per ton of caustic soda. However, industry players are replacing mercury cell technology with more efficient and environment-friendly membrane cell technology.

Food processing applications will surpass $1.5 billion by 2026. The product is used in removing skins from tomatoes, potatoes, and other fruits. It is also used in processing edible fats and oils. Food processing business is mainly influenced by consumers’ changing habits, tastes & preferences in food, growing population, changing lifestyles, easy availability of raw materials, and globalization & trade. The demand for increasing packaged food around the world, particularly in developing countries drives the caustic soda market growth of the food processing industry.

North America has a prominent market share and expected to grow with CAGR 2.3% over the forecast timeframe. Growing production capacities coupled with high product consumption from end-use industries expected to drive the caustic soda market share in the coming years. At the global level, the demand for sodium hydroxide is high in Asia, led by China and India and North America, led by the U.S. This trend is highly associated with the prevalence of end-use industries in these regions.

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Key Findings of the Caustic Soda Market Report:

  • Strong positive market conditions for textile and paper & pulp expected to drive product demand over the forecast timeframe.
  • The growing population in Asian countries has spurred consumerism and demand & trade of textiles.
  • Increase in product demand from food processing and water treatment industry
  • Rapid urbanization coupled with the increasing spending power of people shall raise product penetration in end-use industries over the study timeframe.

There are well-established players involved in the sodium hydroxide industry. Companies seek to perform sales integration activities to strengthen the salesforce and improving customer service. For instance, Vynova Runcorn Ltd. and its subsidiaries integrated business management activities and sales activities under Vynova International.

The key market players analyzed in the caustic soda industry report include SABIC, Dow, Akzo Nobel N.V., FMC Corporation, Aras Petrochemical Company, Formosa Plastics Corp., Arkema S.A., Covestro AG, Grasim (Aditya Birla), Hanwha Chemical Corporation, etc.  They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry. 

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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