Caustic soda is widely used in many industrial sectors. Products made from caustic soda have become an integral part of our day-to-day life. As a basic chemical raw material, the demand for caustic soda is high and its consumption is widespread. Caustic soda or sodium hydroxide, also known as lye, is an inorganic compound commonly marketed in the form of pellets, flakes, or granules. Caustic soda lye is the most widely used chemical in industries. Due to its global use in several applications and various upcoming opportunities in the caustic soda market, growth of this market is expected to be rampant in the near future.
Transparency Market Research (TMR), a leading market research firm in the U.S., deeply analyzes the caustic soda market in terms of volume (Kilo tons) and revenue (US$ million) for the forecast period 2014-2020. According to the evaluation, the global caustic soda market is anticipated to reach US$39.75 billion by end of 2020, from a value of US$30.82 billion in 2013. TMR also predicts that the market is expanding at a 3.7% CAGR from 2014 to 2020.
Browse Market Research Report of Caustic Soda Market:
Industrial use of caustic soda is large-scale and growing
The demand for caustic soda is directly related to the demand for consumer as well as industrial products. Some of the major end users of caustic soda are the pulp and paper, textiles, food processing, and aluminum industries. Due to the strong alkaline properties of caustic soda, it is also used as a cleaning agent in industrial applications such as petroleum products, soaps and detergents, mining, water treatment, water purification, glass making, and pharmaceuticals. Growth of end-use industries such as soaps and detergents, pulp and paper, chemicals, and alumina is expected to boost the demand for caustic soda over the forecast period.
Commercially, the use of caustic soda is high and growing in the market because of its easy reactivity with various substances, especially aluminum and zinc. Globally, caustic soda is used as a 50% aqueous solution or as a solid and is industrially produced through the electrolytic chloralkali process.
Moreover, about 4% of caustic soda is also used in the process of refining aluminum from its ore, bauxite. Increasing consumption of caustic soda in various industries and in alumina extraction is further expected to accelerate the market’s growth in the next five years. Alumina is expected to be the fastest growing application segment of the caustic soda market due to the rising demand for aluminum in packaging, automotive, and aerospace applications.
Browse Market Research Press Release of Caustic Soda Market:
Asia Pacific is a leader in the caustic soda market
India is the leading region for consumption of caustic soda, due to demand in the manufacturing of pulp and paper, viscose, detergents, metal cleaning, petroleum refining, and aluminum. The demand for caustic soda is also expected to expand in other regions of Asia Pacific such as China and Australia due to the high consumption in chemical, detergents and aluminum segments. Australia will particularly witness high growth in this market over the next six years. Other applications such as petroleum processing, textiles, and food processing are also growing rapidly in Asia Pacific. This trend is likely to continue during the forecast period.