Caustic Soda Market Expected to Reach $55.8 billion by 2026

According to a new report published by Allied Market Research, titled, "Caustic Soda Market by Production Process and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global caustic soda market was valued at $36.0 billion in 2018 and is projected to reach $55.8 billion by 2026, growing at a CAGR of 5.50% from 2019 to 2026.   The factors driving the growth of the market include increase in use of caustic soda in applications such as alumina, pulp & paper, soap & detergent, water treatment, and others. In addition, with growing chemical industry, it is expected that the demand for caustic soda will also increase significantly as caustic soda is used in manufacturing of organic and inorganic chemicals.

Asia-Pacific and North America collectively accounted for around 70.4% share in caustic soda market size 2018, with the former constituting around 51.4% share. Asia-Pacific and Europe are expected to grow with the highest CAGR during the forecast period. The cumulative share of these two segments was 67.5% in 2018 and is anticipated to reach 69.8% by 2026.

The global caustic soda market is segmented on the basis of production process and application. Based on production process, the market is divided into membrane cell, diaphragm cell, and others. The membrane cell segment holds a dominant position in the market and diaphragm cell segment is expected to grow with the highest CAGR during the forecast period.

Based on application, the global caustic soda market is divided into organic chemical, inorganic chemicals, alumina, pulp & paper, soap & detergent, water treatment, and others. The pulp & paper segment is expected to grow with the highest CAGR during the forecast period.

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region holds a dominant position in the global caustic soda market share and is expected to continue its dominance during the forecast period.

The key players involved in the global caustic soda market include Dow Chemical Company, Occidental Petroleum Corporation, AkzoNobel, Solvay SA, BASF, FMC Corporation, Eastman Chemical Company, Arkema Group, BAYER AG, and Tata Chemicals Limited. These players are adopting strategies such as product launch, partnership, merger, and acquisition to stay competitive in the market. In an instance, AkzoNobel announced to expand high-purity salt production for manufacturing caustic soda in the Netherlands. AkzoNobel Specialty Chemicals is planning to upgrade its Rotterdam chlor-alkali plant for production of chlorine and caustic soda. The company is implementing “e-flex” technology, which routinely adjusts production with electricity supplies.

Key Finding of The Caustic Soda Market:

• In 2018, the Asia-Pacific market held a share of over 51% in the caustic soda market and is expected to continue its dominance in caustic soda market growth.
• The U.S. is expected to hold a dominant share in the caustic soda market during the forecast period.
• The membrane cell segment is projected to grow at a CAGR of 5.30% by 2026.
• The Asia-Pacific region dominated the caustic soda market in 2018, and is expected to grow with the highest CAGR during the forecast period.

The qualitative data in the report aims on the solar PV glass market trends, dynamics, and developments in the caustic soda industry while the quantitative data provides information regarding the market share and market size in terms of revenue and volume.