Increased research and development (R&D) activities to develop new production technologies should create growth opportunities for the sodium hydroxide market, Future Market Insights (IMF) found in a recent research study.
According to the report, Sodium hydroxide sales to grow at a CAGR of 4.3% to reach $43.7 billion by the end of the assessment period in 2031 Encouraging market participants to invest heavily in expanding their production capacities.
East Asia is expected to remain an important regional market as applications increase, driven in particular by the demand for textile chemicals in the textile industry. In addition, the outbreak of the COVID-19 virus has led to reduced growth in many end-use industries, including automotive and construction.
This outbreak has also affected the chemical industry. Losses incurred during the pandemic led to modest growth of the caustic soda market. However, growing demand in the pulp and paper industry is expected to support the recovery of the caustic soda market.
Leading players in the sodium hydroxide market are focused on strategic expansions of production capacity to produce high-quality products, alongside collaborations, partnerships, and acquisitions. Products They are also focused on strengthening their product portfolio and developing stronger distribution partnerships.
Key manufacturers in the sodium hydroxide market include Olin Corporation, Tosoh Corporation, BASF SE, Formosa Plastics Corporation, Dow Chemical Company, among others, Shin-Etsu Chemical Co Ltd, Tata Chemicals Ltd., Xinjiang Zhongtai Chemical Co. Ltd., Vynova Group, CJ Chemicals, ProChem, Inc., Westlake Chemical Corporation, Covestro AG, Solvay S.A., Gujarat Alkalies and Chemicals Limited, Occidental Petrochemical Corporation, Chemical Store Inc., GFS Chemicals, Inc.
Sodium Hydroxide Market by Category
By product type:
- Caustic lye
- Pulp & Paper
- Soaps & Detergents
- Dyes &
- Water Treatment
- Power and Steel
- Food Processing
Valuable Information on the Sodium Hydroxide Market
Future Market Insights has published a market research report on the Sodium Hydroxide Market that presents a global analysis for 2016-2020 and an opportunity assessment for 2021-2031.
The report provides a detailed analysis of the sodium hydroxide market in two different segments: product type, application, and region.