Global Sodium Hydroxide Market Size To Worth USD 84.20 Billion By 2033 | CAGR of 4.88%
Category: Chemicals & MaterialsGlobal Sodium Hydroxide Market Size To Worth USD 84.20 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Sodium Hydroxide Market Size is Expected to Grow from USD 52.30 Billion in 2023 to USD 84.20 Billion by 2033, at a CAGR of 4.88% during the forecast period 2023-2033.
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Browse key industry insights spread across 245 pages with 122 Market data tables and figures & charts from the report on the "Global Sodium Hydroxide Market Size, Share, and COVID-19 Impact Analysis, By Grade (Solid, 50% Aqueous Solution, and Others), By Production Process (Membrane Cell, Diaphragm Cell, and Others), By Application (Biodiesel, Alumina, Inorganic Chemicals, Organic Chemicals, Food, Pulp & Paper, Soap & Detergent, Textiles, Water Treatment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sodium-hydroxide-market
The sodium hydroxide is the industry that produces, sells, and distributes sodium hydroxide or caustic soda. Sodium hydroxide is an inorganic solid ionic compound with the chemical formula NaOH, comprising of sodium cations and hydroxide anions. Numerous sectors use sodium hydroxide, including the production of drinking water, textiles, soaps and detergents, wood pulp and paper, and drain cleaners. The growing need from building & construction, packaging, consumer goods, and transportation industries boosting the demand for plastics, aluminium, and other materials augmenting the demand for sodium hydroxide, thereby escalating the market growth opportunity. The growing need from end-use industries including paper & pulp and alumina is expected to drive the sodium hydroxide market. Further, the increasing need for paints and coatings owing to the surging construction activities driving the need for titanium dioxide production, thereby propelling the market demand for sodium hydroxide. On the contrary, the availability of alternative products and raw material price volatility are challenging the global sodium hydroxide market.
The 50% aqueous solution segment dominated the global sodium hydroxide market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the grade, the global sodium hydroxide market is divided into solid, 50% aqueous solution, and others. Among these, the 50% aqueous solution segment dominated the global sodium hydroxide market in 2023 and is expected to grow at a significant CAGR during the forecast period. A 50% aqueous solution of sodium hydroxide is primarily used as a neutralizing agent or chemical reactant. The widespread usage of this solutions in the chemical, petrochemical, textile, pulp and paper, metal, soap and detergent, culinary, and pharmaceutical industries is driving the market.
The membrane cell segment dominated the market with the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the production process, the global sodium hydroxide market is divided into membrane cell, diaphragm cell, and others. Among these, the membrane cell segment dominated the market with the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period. It is the most cost-effective technology that involves electrolyzing brine with the use of a selective membrane. The relatively lower environmental impact of sodium hydroxide synthesis in membrane cells is driving the market in the membrane cell segment.
The organic chemicals segment accounted for the largest market share in 2023 and is anticipated to grow at a significant CAGR growth during the predicted timeframe.
Based on the application, the sodium hydroxide market is classified into biodiesel, alumina, inorganic chemicals, organic chemicals, food, pulp & paper, soap & detergent, textiles, water treatment, and others. Among these, the organic chemicals segment accounted for the largest market share in 2023 and is anticipated to grow at a significant CAGR growth during the predicted timeframe. Epoxypropane, polycarbonates, ethyleneamines, and epichlorohydrin are among the organic compounds made with sodium hydroxide. The growing demand for plastics in a variety of industries and in the manufacturing of various polymers is driving the market.
North America is projected to hold the largest share of the global sodium hydroxide market over the forecast period.
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North America is projected to hold the largest share of the global sodium hydroxide market over the forecast period. The government investment in infrastructure, paper, pharmaceuticals, and other industries that require NaOH is propelling the sodium hydroxide market. Further, the expanding water and wastewater treatment facilities are contributing to driving the sodium hydroxide market.
Asia Pacific is predicted to grow at the fastest CAGR in the sodium hydroxide market over the forecast period. The growing demand for the base chemical for a variety of applications, such as pH correction and soap production is promoting the market demand. The region’s industrial growth and improvement in healthcare facilities are significantly contributing to driving the market growth.
Major key players in the sodium hydroxide market include Dow, Westlake Corporation, Olin Corporation, Xinjiang Zhongtai Chemical Co. Ltd., Tata Chemicals Limited, BASF SE, Formosa Plastics Corporation, Tosoh Corporation, Brenntag North America, Inc., Occidental Petroleum Corporation, Solvay S.A, Akzo Nobel N.V., Tata Chemicals, Hanwha Chemical Corporation, LG Chem, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In December 2023, Dow launched two caustic soda products - Caustic DEC and TRACELIGHT DEC, part of Dow’s Decarbia portfolio of reduced-carbon solutions, with up to 90% lower carbon dioxide.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global sodium hydroxide market based on the below-mentioned segments:
Global Sodium Hydroxide Market, By Grade
- Solid
- 50% Aqueous Solution
- Others
Global Sodium Hydroxide Market, By Production Process
- Membrane Cell
- Diaphragm Cell
- Others
Global Sodium Hydroxide Market, By Application
- Biodiesel
- Alumina
- Inorganic Chemicals
- Organic Chemicals
- Food
- Pulp & Paper
- Soap & Detergent
- Textiles
- Water Treatment
- Others
Global Sodium Hydroxide Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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