With CAGR of 4.4%, Sodium Hydroxide Market Size, Share is projected to reach $61.1 billion by 2027 Globally, says MarketsandMarkets™

Chicago, Oct. 24, 2022 (GLOBE NEWSWIRE) -- The global Sodium Hydroxide Market is projected to grow from USD 49.3 billion in 2022 to USD 61.1 billion by 2027, at a CAGR of 4.4% during the forecast period, as per the recent study by MarketsandMarkets™. With the increasing application and demand for alumina, the sodium hydroxide market is expected to grow. Alumina is significantly used in the construction industry due to its properties, such as low weight, high durability, and cost-effectiveness.

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Browse In-Depth TOC On "Sodium Hydroxide Market”

194 - Market Data Tables

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List of Key Players in Sodium Hydroxide Market:

1. Tata Chemicals Limited (India)
2. Olin Corporation (US)
3. Westlake Corporation (US)
4. Occidental Petroleum Corporation (US)
5. Dow (US)
6. Solvay S.A (Belgium)
7. BASF SE (Germany)
8. Xinjiang Zhongtai Chemical Co. Ltd (China)
9. Akzo Nobel N.V (Netherlands)
10. Brenntag North America Inc (US)

Drivers, Restraints, Opportunities and Challenges in Sodium Hydroxide Market:

1. Driver:  Increasing demand for alumina in major end-use industries
2. Restraints: Environmental impact
3. Opportunity: Industrialization in emerging economies
4. Challenges: Highly corrosive nature of caustic soda and compliance with safety standards

Key Findings of the Study:

1. Organic chemicals segments holds the largest share in the Sodium Hydroxide market
2. By Grade, 50% Aqueous Solution account for the largest share of the Sodium Hydroxide market
3. By region, Asia Pacific accounted for the largest share in the global Sodium Hydroxide market

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Organic chemicals segments holds the largest share in the Sodium Hydroxide market

Organic chemicals form one of the largest segments of the overall chemical industry. Acetic acid, methanol, ethyl alcohol, formaldehyde, citric acid, aldehydes, ketones, esters, aliphatic, aromatic, polymers, amides, and other basic organic chemicals are a part of this segment, and they find application in drugs, pesticides, plastics, cosmetics, agrochemicals, etc. Some of the major organic chemicals made from sodium hydroxide include propylene oxide, polycarbonates, ethylene amines, and epichlorohydrin; additionally, manufacturers of many organic chemicals use sodium hydroxide in neutralization and gas scrubbing

By Grade, 50% Aqueous Solution account for the largest share of the Sodium Hydroxide market

Sodium hydroxide 50% w/w aqueous solution is used as a chemical reactant or neutralization agent in various industries such as chemical, pharmaceutical, textile, pulp & paper, metal, and food industries and in soap & detergent manufacturing. It is also used in the manufacture of synthetic fabrics such as rayon and also for manufacturing food products. It is utilized for pH adjustment and for the formation of in situ sodium methylate in bioethanol and biodiesel processing

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By region, Asia Pacific accounted for the largest share in the global Sodium Hydroxide market

Asia Pacific accounted for the largest share of the Sodium Hydroxide market in 2021, followed by Europe and North America. China is the largest country-wise market in the region, and this trend is projected to continue over the next five years. An increase in the demand from the alumina application industry increased the demand for sodium hydroxide in 2021, which was driven by the surge in construction activity in emerging markets.

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