APAC to Lead Caustic Soda Market 2019
Caustic soda is a common name for sodium hydroxide, which is also popularly known as lye. The name has been derived from its chemical identity as sodium hydrate and also as it is corrosive or caustic. Caustic soda in the pure form is a white, waxy solid that absorbs water readily and makes aqueous solutions. It is non-flammable and odorless and is available in various forms including aqueous solutions of various concentrations, granules, pellets, and flakes. Caustic soda has an extensive range of applications including chemistry experiments, making several foods, frosting glass, homemade biodiesel, candle making, and soap making, among others.
There are several factors that are pushing the growth of the caustic soda market. These factors include plant capacity expansions, joint ventures in developed and emerging regions, and growing demand from pulp and paper, textile, chemical, and automotive industry. Caustic soda is a strong alkali compound that reacts with different substances readily such as aluminum and zinc, which in turn is boosting the demand of the product in metallurgical applications. The caustic soda market is predicted to increase further with the rise in consumption of caustic soda in alumina extraction.
Major Players in Caustic Soda market are:
Bayer Material Science AG
Axiall Corporation
AkzoNobel N.V
ATP Group
Reliance Industries Limited
INEOS ChlorVinyls
DowDuPont
Occidental Petroleum Corporation
Formosa Plastics Group
The National Titanium Dioxide Company (CRISTAL)
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On the contrary, the corrosive and reactive nature of caustic soda has harmful effects on the environment, which may limit its use in consumer products that may deter the market growth. Besides, the energy-intensive production process of caustic soda is challenging various manufacturers by reducing their total profit margin. This again, may impact the market growth negatively. Moreover, the growing concern about its harmful effects on human health too may deter the growth of the caustic soda market.
The caustic soda market has been segmented on the basis of type and application. Based on type, the caustic soda market is segmented into caustic soda particle, caustic soda flake, solid caustic soda, and liquid caustic soda. Based on application, the caustic soda market is segmented into chemical processing, aluminum production, petroleum products, bleach manufacturing, soap and detergents, textiles, and pulp and paper.
Based on the region, the caustic soda market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, Europe, and the Middle East and Africa. Of these, the APAC region will have the largest share in the market. This is owing to the growing textile industry, especially in the emerging economies, including Taiwan, Vietnam, India, and China. Demand for caustic soda in this region is predicted to increase further due to its increasing consumption in organic chemicals, detergents, soaps, aluminum, and more.
The caustic soda market in North America is predicted to have healthy growth. This is owing to the burgeoning demand for caustic soda from soap & detergents applications and textile industry.
February 2019: Grasim Industries, Aditya Birla Group firm will acquire KPR Industries’ chlor-alkali business. The acquisition will be a strategic fit that will strengthen Grasim Industry’s leadership in the chlor-alkali segment. Caustic soda plays a crucial role in the aluminum industry, and given the aluminum businesses’ expansion plans, it will be a good sourcing point for top aluminum players.
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