Chicago, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The global Sodium Hydroxide Market to grow from USD 49.3 billion in 2022 to USD 61.1 billion by 2027, at a CAGR of 4.4%, as per the recent study by MarketsandMarkets™. 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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Browse In-Depth TOC On "Sodium Hydroxide Market”
194 - Market Data Tables
39 - Figures
184 - Pages
List of Key Players in Sodium Hydroxide Market:
- Tata Chemicals Limited (India)
- Olin Corporation (US)
- Westlake Corporation (US)
- Occidental Petroleum Corporation (US)
- Dow (US)
- Solvay S.A (Belgium)
- BASF SE (Germany)
- Xinjiang Zhongtai Chemical Co. Ltd (China)
- Akzo Nobel N.V (Netherlands)
- Brenntag North America, Inc (US)
Drivers, Restraints, Opportunities and Challenges in Sodium Hydroxide Market:
- Driver: Increasing demand for alumina in major end-use industries
- Restraint: Environmental impact
- Opportunity: Industrialization in emerging economies
- Challenge: Highly corrosive nature of caustic soda and compliance with safety standards
Key Findings of the Study:
- Organic chemicals segments holds the largest share in the Sodium Hydroxide market
- By Grade, 50% Aqueous Solution account for the largest share of the Sodium Hydroxide market
- By region, Asia Pacific accounted for the largest share in the global Sodium Hydroxide market
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The segmentation considered for this report is based on grade, production process, application, and region that constitute the key markets. The grade of Sodium Hydroxide include Solid, 50% Aqueous Solution, Others. On the basis of the apllication, the market has been segmented into Biodiesel, Alumina, Inorganic Chemicals, Organic Chemicals, Food, Pulp & Paper, Soap & Detergent, Textiles , Water Treatment and others. The production process segment comprises Membrane Cell, Diaprhagm Cell, Others.
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The Sodium Hydroxide market is studied for five regions, namely, North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific commands the largest share of the total Sodium Hydroxide market in terms of volume and value. In Asia Pacific, China, India, and Southeast Asia are expected to witness high growth during the forecast period. The growth of the market in the region is led by rapid industrialization, rising demand from various applications, and increasing government spending. Different companies are focusing on these emerging markets and increasing their footprints by setting up manufacturing facilities, distribution centers, and research & development centers
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