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Kenneth Research recently added a report on the Global Caustic Soda Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Caustic Soda Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
The global caustic soda market size was USD 44,959.2 million in 2019 and is projected to reach USD 55,557.7 million by 2027, exhibiting a CAGR of 3.1% during the forecast period. The major driving factor of global Caustic soda market are depletion of freshwater resources and growing increased demand from fast growing chemical industries. The major restraining factor of global caustic soda market is implementation of new technologies to produce organic chemicals and fluctuating prices due to high energy consumption & uneven production rates. Caustic Soda also known as Sodium Hydroxide. Caustic Soda is an inorganic compound with the chemical formula NaOH. It is white solid ionic compound consisting of sodium cations (Na+) and hydroxide anions (OH-). Sodium hydroxide is a highly caustic base and alkali that decomposes proteins at ordinary ambient temperatures and may cause severe chemical burns. Sodium hydroxide is used to manufacture soaps and a variety of detergents used in homes and commercial applications. It is used to help manufacture a variety of medicines and pharmaceutical products, from common pain relivers like aspirin. Sodium hydroxide also used to extract alumina from naturally occurring minerals. Alumina is used to make aluminum and variety of products including foils, kitchen utensils etc. It is also used in many other manufacturing and industrial process. It is used to manufacture rayon, glass, ceramics, paints etc.
The regional analysis of Global Caustic soda Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific has accounted the leading market share in terms of total generating revenue with exceeding 55% in 2015 across the globe owing to growing chemical industry and increase in number key market players in the region. The expansion of Asia-Pacific region is primarily due to countries such as China, India and Japan. Europe is also the region which contributes the maximum share in the global Caustic soda over the coming years. North America region is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The major market player included in this report are:
• FMC Corporations
• Dow Chemical Company
• Occidental Petroleum Corporation
• Ineos Group Ltd.
• Olin Corporations
• PPG Industries
• Tata Chemicals Ltd.
• Formosa Plastics Corporation
• Xinjiang Zhongtai Chemicals Co. Ltd.
• Tosoh Corporation
• Hanwha Chemical Corporation
• Solvay SA
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Electric Power
Alumina
Inorganic Chemical
Chemical
Food, Pulp & Paper
Soaps and Detergents
Textiles
Water Treatment
Steel/Metallurgy-Sintering
Others
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2022 to 2031
Target Audience of the Global Caustic soda Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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