H1 2023: In H1 2023, Asia Pacific region ranked as the largest consumer of caustic soda. In the first half of 2023, the Caustic Soda market in the Asia Pacific region faced fluctuations in prices. In April 2023, In the initial month of the second quarter, Caustic Soda prices exhibited an upward trajectory, driven by a robust economic recovery and heightened demand from downstream sectors such as textiles, alumina processing, and cleaning industries. Production, albeit maintained at moderate levels, faced a seasonal uptick in energy consumption. However, by the second week of April, a price increment occurred as chloralkali industries sought to curtail production costs amid rising energy prices. In May 2023, Caustic Soda prices experienced a decline, primarily attributed to disruptions in bauxite supply, resulting in an oversupplied market. This was compounded by diminished demand from downstream textile, alumina processing, and cleaning industries, influenced by Labor Day Holidays in China, reduced domestic market buying sentiments, and sluggish offshore trade. As June approached, the Caustic Soda industry encountered a moderate market, increased inventory levels in the Chinese market, consistent supplies, and stability in downstream demand from the alumina processing and soap & detergent sectors.
The global Caustic Soda market stood at approximately 82 million tonnes in 2023 and is anticipated to grow at a healthy CAGR of 3.22 % during the forecast period until 2034.
Caustic soda, also known as sodium hydroxide (NaOH), plays a crucial role in various industrial and commercial applications. As a robust and colorless alkali, it is a white ionic compound derived through the electrolysis of sodium chloride (salt brine). In this process, sodium chloride is electrolyzed, resulting in caustic soda as the primary product and chlorine as the secondary product. The production of chlor-alkali predominantly utilizes membrane cell technology, although diaphragm cell technology is also commercially employed. Based on type, market is divided into: Caustic Soda (Solid) and Caustic Soda (Lye).
Caustic soda finds extensive use across diverse sectors, with alumina manufacturing being a leading application. Other applications include organic chemicals, food production, soap and detergent manufacturing, textiles, water treatment, and steel/metallurgy, specifically in the sintering process. Recognized for its high reactivity and strong oxidizing properties, commercial-scale production of caustic soda involves electrolysis of brine in the Chlor-alkali process. On the basis of Grade, Caustic Soda market is segmented into Industrial Grade and Pharmaceutical Grade. Among these, industrial grade is the prevalent grade. Organic and inorganic consumption, for example, represent the primary markets for caustic soda, where it functions as a potent acid neutralizer that readily dissolves in water. It finds applications as an intermediate, reactant, pH regulator, and in acidic waste treatment within the chemical industry. Furthermore, caustic soda is applied in diverse sectors such as water treatment, domestic cleaning, metal processing, glassmaking, mining, and more. In the Bayer's process, it plays a role in extracting alumina from bauxite ore. The concentrated solution of caustic soda dissolves alumina to form sodium aluminate, and a reverse reaction facilitates the separation of alumina. Caustic soda finds versatile applications across various end-use sectors, including water treatment, domestic cleaning, metal processing, glassmaking, among others. The global Caustic Soda market size is anticipated to reach nearly 115 million tonnes by 2034.
Based on region, Asia Pacific region is the biggest consumer of Caustic Soda. In 2023, this region consumed roughly 62% of the Caustic Soda market and is poised to assert dominance in the global Caustic Soda market throughout the forecast period. The increasing demand in downstream sectors like water treatment, pulp and paper, alumina, and metal pickling, coupled with a rising need for soap and detergents, stands out as pivotal for driving market growth in the Asia-Pacific (APAC) region. This surge in demand reflects a burgeoning market influenced by diverse industries that heavily rely on caustic soda for various applications. The APAC region, with its expanding industrial landscape, has become a focal point for caustic soda consumption, indicating a robust market driven by these dynamic factors.
Based on the end-user industry, the global Caustic Soda market is divided into Water Treatment, Inorganic Chemical Production, Aluminium Industry, Paper & Pulp, Soaps & Detergents (Surfactants), Organic Chemical Production, Textile, Others. However, Inorganic Chemical Production and Aluminium Industry are the leading consumers of global Caustic Soda market.
Major players in the Global Caustic Soda market are Olin Corporation., Formosa Plastics Corporation USA, Dow Chemical, Shintech, Westlake Chemical, Kem One,Covestro AG, Oxychem, Xinjiang Zhongtai Chemical Co., Ltd., INOVYN, Grasim Industries Limited, Tosoh Corporation, Dongying Jingling Chemical, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Caustic Soda which covers production, demand and supply of Caustic Soda market in the globe.
• To analyse and forecast the market size of Caustic Soda
• To classify and forecast Global Caustic Soda market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Caustic Soda market in the globe.
To extract data for Global Caustic Soda market, primary research surveys were conducted with Caustic Soda manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Caustic Soda market over the coming years.
ChemAnalyst calculated Caustic Soda demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Caustic Soda. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Caustic Soda manufacturers and other stakeholders
• Organizations, forums and alliances related to Caustic Soda distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Caustic Soda manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Caustic Soda market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
|
Attribute
|
Details
|
|
Market size Volume in 2023 |
82 million tonnes |
|
Market size Volume in 2034 |
115 million tonnes |
|
Growth Rate |
CAGR of 3.22% from 2024 to 2034 |
|
Base year for estimation |
2023 |
|
Estimated Year |
2024 |
|
Historic Data |
2015 – 2022 |
|
Forecast period |
2025 – 2034 |
|
Quantitative units |
Demand in million tonnes and CAGR from 2024 to 2034 |
|
Report coverage |
Industry Market Size, Capacity by Company, Capacity by Location, Capacity by Technology, Operating Efficiency, Production by Company, Demand by Grade, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade. |
|
Segments covered |
By End-Use: (Water Treatment, Inorganic Chemical Production, Aluminium Industry, Paper & Pulp, Soaps & Detergents (Surfactants), Organic Chemical Production, Textile, Others)
By Sales Channel: (Direct Sale and Indirect Sale) |
|
Regional scope |
North America, Europe, Asia Pacific, Middle East and Africa, and South America. |
|
Pricing and purchase options |
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Q1.
What was the net market size of Caustic Soda in terms of volume in 2023?
Ans:
The global market size of Caustic Soda had reached approximately 82 million tonnes in 2023.
Q2.
Which region is the major consumer of Caustic Soda?
Ans:
Asia Pacific region is the leading consumer of Caustic Soda globally.
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