Portland, OR, Feb. 28, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global caustic soda industry was valued at $36 billion in 2018 and is expected to reach $55.8 billion by 2026, with a CAGR of 5.5% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
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Increase in demand for caustic soda from application and rise in R&D activities for development of new products & production processes are the key factors boosting the growth of the global caustic soda market. However, threats related with caustic soda hinders the growth to certain extent. On the other hand, emerging chemical sector is anticipated to bring lucrative opportunities in the near future.
The global caustic soda market is divided on the basis of production process, application, and region. Based on production process, the market is segmented into membrane cell, diaphragm cell, and others. The membrane cell segment held the largest share in 2018, contributing for more than two-fifths of the global caustic soda market. On the other hand, the diaphragm cell segment is expected to manifest the fastest CAGR of 6.2% during the study period.
Based on application, the global caustic soda market is segmented into organic chemical, inorganic chemicals, alumina, pulp & paper, soap & detergent, water treatment, and others. The organic chemicals segment held the largest share in 2018, accounting for nearly one-fifth of the global caustic soda market. Nevertheless, the pulp and paper segment is anticipated to manifest the fastest CAGR of 6.9% during the forecast period.
The global Caustic soda market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2018, contributing for more than half of the market. In addition, the same region is projected to portray the fastest CAGR of 6.0% during the forecast period.
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Key market players analyzed in the research include BAYER AG, AkzoNobel, Arkema Group, Occidental Petroleum Corporation, FMC Corporation, Tata Chemicals Limited, Eastman Chemical Company, Dow Chemical Company, BASF, and Solvay SA.
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