LONDON, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Caustic soda, also known as sodium hydroxide, is a chemical substance with formula (NaOH). This substance is an alkali, which is a sort of base that can neutralize acids and is water-soluble. It has been used to produce soap for generations, and because of its propensity to dissolve grease, it is a prominent ingredient in oven cleaners and drain unclogging solutions. Caustic soda is available in pellets, flakes, powders, solutions, and other forms. It's employed in industries including water treatment, pulp, and paper production, and chemical production. Soaps, soft tissues, detergents, absorbent materials, and cleaning supplies are all made with it.
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Covid-19 impact on Caustic Soda Market
The Covid-19 pandemic has disrupted the supply chain. Due to this, the caustic soda industry suffered a significant revenue loss during the pandemic. The influence of the corona virus on the demand for chlorine derivatives has caused a shortage of caustic soda, a by-product of chlorine manufacturing. In addition, Chinese manufacturers closed their plants in the first quarter of 2020. China, the world's largest supplier of caustic soda, was severely harmed by the country's lockdown, trade and travel restrictions, and reduced product consumption in a variety of end-user industries.
Global Caustic Soda Market Dynamics
The increased demand for alumina in the transportation industry is one of the primary reasons driving the market's growth in the short term. It is estimated that 1/4thof aluminum utilized in transportation will be used in commercial transportation by road and railways. Aluminum has a lot of potential for boosting energy efficiency and sustainability. For example, lightweight aluminum improves fuel economy in vehicles ranging from cargo to passenger. The rising demand for paper and paperboards is predicted to boost consumption of caustic soda, which is used to extract aluminum from its ores, boosting the market growth. During the predicted period, the increased use of caustic soda in the paper and pulp, as well as the textile sectors, has demonstrated a beneficial response.
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In addition, the membrane cell market for caustic soda is also predicted to rise significantly in the coming years. Membrane cell technology has grown in popularity over the years as a result of its low energy consumption and environmental friendliness. However, the high corrosive and reactive nature of the compound could hamper the market growth due to its hazardous effects on humans and the environment. Therefore, the U.S. Occupational Safety & Health Administration (OSHA) has established certain guidelines where sodium hydroxide is manufactured or used, to limit its exposure. Likewise, the National Institute for Occupational Safety and Health provides basic safety instructions for using and transporting sodium hydroxide, including packaging, storage, spillage, and disposal.
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Organics, Inorganics, and paper & pulp segments gathered more than half of the market share in 2020
Among applications, the organics segment occupied the largest shares in 2020. Caustic soda is a key component in the production of a variety of chemical compounds. Sodium hydroxide has several applications in inorganic chemical formulations in addition to its organic applications. Inorganic chemicals used in the creation of fuel cells, such as glass, paints, cosmetics, and ceramics, account for the majority of global demand for caustic soda. Moreover, the pulp & paper industry is likely to witness substantial growth during the forecast period 2021 – 2028.
Caustic Soda Regional Stance
The global classification of the caustic soda market includes North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific region accumulated the largest market shares in the global caustic soda industry. The increasing demand for caustic soda from the pulp and paper industry is a major driver driving market expansion. Also, the rising demand for caustic soda in textile applications is a governing factor for the market, and it is predicted to boost the industry's growth. Furthermore, the growth of the textile sector in developing nations such as China, India, Taiwan, and others have aided the expansion of the APAC caustic soda business. North America region also accounted for a significant share in 2020 as many manufacturers in the United States have converted from the mercury cell or diaphragm technique to membrane technology.
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Major Players
The caustic soda market is occupied with a large number of players. The key vendors provided in the report include AkzoNobel, Dow Chemical Company, FMC Corporation, Formosa Plastics Corporation, Hanwha Chemical Corporation, INEOS Group Limited, Occidental Petroleum Corporation, PPG Industries, Solvay SA, Tosoh Corporation, and others.
For instance, in 2018, Evonik Industries and AkzoNobel Specialty Chemicals announced a joint venture and launched chlorine and potassium hydroxide production at their facility in Germany following 18 months of preparation.
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