Dec 05, 2019 (Market Insight Reports via COMTEX) --
Caustic Soda Market – Growth, Trends, And Forecast (2019 – 2023) this market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The caustic soda market is expected to grow at a CAGR of approximately 6.78% during the forecast period (2018 – 2023).
Market ByTop Leading Players-
Arkema, DowDuPont, FMC Corporation, Kemira, SABIC, Solvay Chemicals, Olin Corporation, AkzoNobel N.V., Reliance Industries Limited, Occidental Petroleum Corporation, Formosa Plastics Group, Shin-Etsu Chemicals Co. Ltd, Axiall Corporation, INEOS ChlorVinyls, Bayer Material Science AG, Tosoh Corporation, Hanwha Chemical Corporation, Nirma Limited, Xinjiang Zhongtai Chemical Co. Ltd, PPG Industries, Tata Chemicals Limited, The Sanmar Group
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Scope of the Report
The caustic soda market is expected to grow at a CAGR of approximately 6.78% during the forecast period (2018 – 2023). The market is mainly driven by the growing demand from the chemicals industry, the rising demand for alumina in the automotive industry, and the increasing demand for paper and paperboards.
Key Market Trends
Rising Demand in the Automotive Industry
In recent times, there has been an increasing demand for alumina in automobiles, such as autos and commercial vehicles, as it offers various benefits, such as the fastest, safest, environment-friendly, and cost-effective ways to increase performance, as well as boost the fuel economy and reduce the emissions without compromising the safety and durability. According to The Aluminum Association, aluminum in automobiles saves 44 million tons of CO2 emissions. Therefore, this increasing demand for alumina is driving the caustic soda market as it is used in the manufacture of alumina.
Chemicals are the Dominant End-user Industry Segment
The market is segmented on the basis of the production process and end-user industry. On the basis of the production process, membrane cell process accounts for the largest market share and is expected to grow at a good rate because of the growing advancements in membrane technologies, like the ion-selective membrane, and its easy availability in the market.
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Asia-Pacific is the Dominant Region
Asia-Pacific is the dominant region and is expected to emerge as the fastest-growing market due to a high product demand, which mainly attributable to the growing end-user industries, like textile the industry in the emerging economies, such as India, China, Taiwan, Vietnam, etc. China is the largest producer and consumer of caustic soda in the Asia-Pacific region.
February 2018: DCM Shriram Ltd approved the investment proposal for the expansion of the caustic soda capacity at the Bharuch (Gujarat) plant with an investment of INR 113 crore and a proposed capacity increase of 186 tons per day. The project is expected to commence in 2019.
January 2018: National Aluminium Company (Nalco) plans to start a second caustic soda plant at Paradip to nullify the volatility in the prices of caustic soda.
Major Players: Arkema Group, DowDupont, FMC Corporation, Kemira,SABIC, Solvay Chemicals, Olin Corporation, and Occidental Petroleum Corporation, among others.
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: Caustic Soda Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2023 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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