Caustic Soda Market Is Predicted To Reach $46.31 Billion By 2024: Grand View Research, Inc.
Fluctuating
prices due to high energy consumption and uneven production rates is likely to
limit the market growth. Chlorine production is also expected to influence the
caustic soda market as it is co-produced with chlorine.
 |
| U.S. caustic soda market revenue by application, 2014 - 2024 (USD Million) |
Organic
chemicals emerged as the leading application segment and accounted for 16.3% of
total market volume in 2015. Owing to incessant demand for manmade fibers, the
textile industry is expected to emerge as the fastest growing application
segment at an estimated CAGR of 4.4% from 2016 to 2024. Textiles are expected
to emerge as the leading application surpassing organic chemicals over the
forecast period.
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Research Report by Grand View Research: www.grandviewresearch.com/industry-analysis/caustic-soda-market
Further
key findings from the study suggest:
- Global
caustic soda market demand was 74.57 million tons in 2015 and is expected
to reach 99.30 million tons by 2024, growing at a CAGR of 3.2% from 2016
to 2024
- Asia
Pacific dominated the global market with demand share exceeding 55% in
2015. Burgeoning textile as well as pulp & paper industry particularly
in China and India is likely to drive the regional market.
- Asia
Pacific is also expected to witness the highest growth of 3.5% over the
forecast period. China is the largest producer as well as consumer of
caustic soda, and the market growth can be attributed to high demand from
textile and pulp & paper industry within the nation.
- North
America and European caustic soda markets are expected to witness moderate
growth on account of market maturity levels. European demand for caustic
soda is expected to grow at an estimated CAGR of 2.8% from 2016 to 2024.
- Key
players in operating in the global market are anticipated to focus on
mergers & acquisitions to expand their market presence. Cost effective
production of caustic soda is considered to be a major challenge which
will influence the market in coming years.
- Key
market players include Dow Chemical Company, Olin Chlor Alkali Products,
AkzoNobel Chemicals, Befar Group Co. Ltd., Shintech Inc. The global
caustic soda industry is fragmented in nature owing to the presence of a
large number of small players concentrated in China which will witness
larger production as well as consumption of caustic soda in coming years.
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Grand View
Research has segmented the global caustic soda market on the basis of
application and region:
Global Caustic Soda Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Alumina
·
Inorganic chemicals
·
Organic chemicals
·
Food and Pulp & Paper
·
Soaps & Detergents
·
Textiles
·
Water Treatment
·
Steel/Metallurgy - Sintering
·
Others
Global Caustic Soda Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
·
North America
o U.S.
·
Europe
o Germany
o France
o UK
·
Asia Pacific
o China
o India
o Japan
o South Korea
·
Middle East & Africa
·
Central & South America
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-caustic-soda-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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