Global Caustic Soda Market: Snapshot
The global caustic soda market is prognosticated to gain momentum for a reliable growth during the forecast period 2014–2020 on the back of some powerful driving factors. In the foreseeable future, the growth in the global caustic soda market is anticipated to be bolstered by an elevating demand for paperboards and paper. However, the rise of the aluminum industry could also be an enough reason for the expected substantial demand in the global caustic soda market. Soaps and detergents, alumina, and pulp and paper are some of the downstream products that are predicted to influence the global caustic soda market at a telling rate with their demand.
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The world caustic soda market could be restrained by the energy-intensive process of the production of caustic soda. Howbeit, new avenues for growth are projected to pamper participants operating in the world caustic soda market with upcoming business opportunities in reasonably untapped African regions. According to a market intelligence report compiled by seasoned analysts, the world caustic soda market is prophesied to achieve a revenue valuation of US$39.75 bn by the end of the forecast period.
Players to Focus on Aggressively Growing Alumina Market
Securing an almost 20.0% larger share in terms of volume in the recent past, organics was followed by pulp and paper and other segments such as textiles, petroleum processing and food processing in the international caustic soda market. A variety of organic chemicals are produced with the help of caustic soda used as a vital reactant. However, alumina is envisaged to take the charge in the international caustic soda market by growing at a faster pace.
The international caustic soda market could also be strengthened by extensive applications in process industries where caustic soda is engaged as an industrial chemical used for general purposes. Coupled with chlorine, caustic soda is usually produced through the chloralkali process. In a general scenario, an approximate 1.1 ton of 100.0% caustic soda can be generated for every ton of chlorine. Although industrially produced as 50.0% solution in water, caustic soda is obtained by water evaporation in the solid state. The common applications of solid caustic soda could be cast blocks, pellets (prills), and flakes.
For the purpose of making fiber receptive to textile applications such as dying and bleaching, caustic soda is employed to separate oils and waxes from it. With more applications gaining prominence in the textile sector, the international caustic soda market could be foreseen to increase demand.
Asia Pacific to Impress with Larger as well as Faster Growth
On the basis volume, Asia Pacific had accounted for a whopping above 50.0% share in the worldwide caustic soda market. This dominance is envisioned to continue in the coming years as Asia Pacific could take the lead in the worldwide caustic soda market. Moreover, the region is foretold to rise at a swift rate until the concluding forecast year. Asia Pacific had witnessed China as a major share caustic soda market and could well testify its lead in the next few years. Apart from China, other developing nations such as India looking to up their GDP growth are forecasted to mark some handsome growth opportunities for the Asia Pacific caustic soda market. The emerging economies in Asia Pacific could also stimulate demand while riding on the enlargement of a number of end-use sectors.
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The worldwide caustic soda market is foretold to observe the prominence of Latin America and Australia in respect of imports whereas the Middle East and Asia and North America could be leading exporters.
On the part of key players, Occidental Petroleum Corporation, Reliance Industries Limited, AkzoNobel N.V., Olin Corporation, and The Dow Chemical Company are expected to demonstrate supremacy in the worldwide caustic soda market.