Covina, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Sodium hydroxide, commonly known as caustic soda or lye, is a strong and highly versatile alkali chemical. It is used as a chemical reagent in the production of various chemicals and is integral to processes like pulp and paper production, soap and detergent manufacturing, and the production of textiles.
Growing industrialization in emerging economies is likely to drive demand for sodium hydroxide. Industries such as textiles, chemicals, and metallurgy rely heavily on this chemical for their processes. The food and beverage industry is expanding globally, and sodium hydroxide is used in various processes, including food preparation and processing, which will contribute to Sodium Hydroxide Market growth.
Key Highlights –
- In August 2021, in an agreement with Faradion (Faradion) and its shareholders, Reliance New Energy Solar Limited, a fully owned subsidiary of the company, agreed to purchase 100% of the equity shares of Faradion through secondary transactions for a total price of GBP 94.42 million, based on an enterprise value of GBP 100 million. At its projected fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, Reliance will deploy Faradion's cutting-edge technology.
Analyst View –
The increasing need for clean and safe water, along with stricter environmental regulations, will sustain the demand for sodium hydroxide in water and wastewater treatment applications. The pharmaceutical and personal care sectors will continue to require sodium hydroxide for manufacturing processes and product formulations.
Detailed Segmentation:
Report Scope:
| Attribute | Details |
| The base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Million & CAGR from 2019– 2029 |
| Market Segmentation | By End-Use Industry- Industry (Pulp and Paper, Personal Care, Pharmaceutical, Textile, Food, Petroleum, Aluminum), Institution, and Others (Drinking Water Treatment, Drain Cleaner)) By Product- Liquid Form, and Solid Form By Application- Cleaning Agent, Catalyst, and Additive |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Impact of COVID-19 on the market:
Biopharmaceutical firms are at the leading position of the human response to the coronavirus pandemic. A significant number of foremost biotech organizations are in the middle of a race to examine the Sars-Cov-2 genome and formulate a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a significant amount of funds are being put into the R&D. With the several candidates in trial, the public and private sectors are expected to work in unison for the estimative period, until a vaccine is developed for Covid-19. This report will quantify the impact of this pandemic on the sodium hydroxide market.
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Competitive Landscape:
The prominent player operating in the global sodium hydroxide market includes,
- The DOW Chemical Company
- BASF SE
- Ciech S.A.
- Gujarat Alkalies and Chemicals Limited
- Kemira Chemicals, Inc.
- Shandong Haihua Group Co., Ltd.
- INEOS Newton Aycliffe Ltd.
- Solvay Chemicals
- Tokuyama Corporation
- Formosa Plastics Corp.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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