Sodium Hydroxide Market Share, Size, Trends, Industry Analysis Report, By Grade (Solid, 50% Aqueous Solution, and Others); By Production Process; By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 114
- Format: PDF
- Report ID: PM3492
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global sodium hydroxide market was valued at USD 48.48 billion in 2022 and is expected to grow at a CAGR of 4.5% during the forecast period. The continuous growth in the need and demand for alumina, paper, and textiles across wide range of industry verticals, mainly due to the rising global population, exponential growth in automobile and construction industry, and improvements in overall economic scenario across the world, are key factors expected to fuel the demand and growth of the market.
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In addition, with the drastic increase in the awareness regarding water conservations, waste management, and scare of running out of portable water and continued expansion in the production and distribution facilities among market giants, will further augment the product demand and growth in the near future.
For instance, in February 2023, Covestro announced that the company has successfully started up a new world-scale facility in Tarragona, Spain, that ensures an efficient, sustainable, and independent supply of caustic soda and chlorine. The new plant will strengthen the company market position and European production network for MDI.
Moreover, with the rapid development of various new and highly improved sodium hydroxide manufacturing procedures that increase the production, enhanced sustainability, and reductions in costs, there has been significant new growth opportunities for the market is being created worldwide. However, the constant fluctuations in the costs of raw materials required in the production of sodium hydroxide and several health concerns associated with the use of this, are key factors hampering the market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the sodium hydroxide market. The rapid emergence of deadly coronavirus across the globe has forced government of many countries to take necessary actions like lockdowns and restrictions on mass movements to get control in the spread of the virus, which resulted in temporary closure of manufacturing facilities across numerous industries and disrupted the global supply chains, due to which market has negatively influenced during the pandemic.
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Industry Dynamics
Growth Drivers
The rapid increase in the water scarcity around the world and various types of strict legislation to regulate the contamination in water bodies, that influence the use of NaOH or caustic soda in the water treatment, which significantly raised the pH of the water through absorbing water & carbon dioxide, are primary factors driving the global sodium hydroxide market growth. The expansion of chemical industry, which widely utilizes sodium hydroxide in numerous applications as a reactant and feedstock in manufacturing of variety of chemicals, is further boosting the growth of the global market.
Furthermore, the rising demand for the product from the building & construction, consumer goods, packaging, and automotive industries mainly in the developing nations like India, China, Thailand, South Korea, and Indonesia, that fuels the need for plastics, aluminum, and others are also likely to have positive impact on market demand and growth.
Report Segmentation
The market is primarily segmented based on grade, production process, application, and region.
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By Grade |
By Production Process |
By Application |
By Region |
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50% aqueous solution segment is expected to witness highest growth over the forecast period
The 50% aqueous solution segment is expected to grow at rapid pace during the anticipated period, on account of its growing utilization as a chemical reactant agent in wide range of industries including pharmaceutical, chemical pulp & paper, metal, food, and textile industries along with the growing demand for the product in the manufacturing of synthetic fabrics like rayon. In addition, the product is gaining high prevalence and traction for utilizing in the pH adjustment & the formation of in-situ sodium methylate across various applications such as bio-ethanol & bio-diesel processing.
The solid segment led the industry market with significant revenue share in 2022, which is mainly driven by continuous rise in the usage of wastewater treatment to neutralize acidic wastewater and remove heavy metals and solid sodium hydroxide is being preferred over other forms available in the market in wastewater treatment because it is easier to handle and store.
Membrane cell segment accounted for the largest market share in 2022
The growth of the segment can be largely attributed to its numerous advantages and beneficial characteristics such as energy-efficient, higher purity sodium hydroxide, and lower environmental impacts. Moreover, emerging trend of shifting towards the use of membrane cell technologies across several companies because of the safe raw materials, better quality caustic soda production, and low electricity consumption, which in turn, propelling the growth of the segment.
The diaphragm cell segment is anticipated to exhibit substantial growth rate over the coming years, which is mainly accelerated to the capabilities of this technology to produces sodium hydroxide with high purity levels over conventional methods, that makes it ideal for use in industries numerous end-use industries including pharmaceuticals, food, and cosmetics. Additionally, the diaphragm cell process is considered to be more environmentally safe method of producing sodium hydroxide at it does not generate hazardous waste like mercury waste, that is positively impacting the segment growth.
Organic chemicals segment held the significant market revenue share
The organic chemicals segment held the significant market share with considerable growth rate in 2022, which is mainly driven by the increasing use of product in the production of various types of plastics including polyvinyl chloride and polycarbonate and the rising demand for plastics across numerous industries such as construction, packaging, and automotive all over the world. Additionally, the exponential growth of chemical and cosmetics industry worldwide has led to higher demand and adoption of organic chemicals, as they are the leading consumers of these chemicals that is expected to be resulted in huge growth and demand of the segment over the coming years.
Asia Pacific region dominated the global market in 2022
Asia Pacific region dominated the global market for sodium hydroxide with significant share in 2022. The rapidly increase rate of industrialization, & rise in the government spending towards the development and product innovation mainly in emerging economies like India, China, Indonesia, and Malaysia coupled with the rising focus of major companies in the region towards increasing their footprints by establishing manufacturing facilities, R&D centers, and distribution centers, are among the major factors driving the growth of the market at significant pace.
North America region is anticipated to grow at higher CAGR during the course of study period, owing to high technological advancements in the manufacturing sector and emergence of the region as a leading consumer of sodium hydroxide around the world with the surging demand for industries like paper & pulp, textiles, and chemicals. Furthermore, the continuous rise in the consumer disposable incomes and improving people living standards in highly developed countries such as United States and Canada, are further expected to bode well for the market growth.
Competitive Insight
Some of the major players operating in the global market include Tata Chemicals Limited, Olin Corporation, Occidental Petroleum, Solvay, BASF, Akzo Nobel, Brenntag North America, Xinjiang Zhongtai Chemical, Westlake Corporation, Dow Chemical, Shandong Haihua Group, Formosa Plastics Corporation, Ciech S.A., Gujarat Alkalies, and Aditya Birla Chemicals.
Recent Developments
- In June 2022, Brenntag partnered with the AL-Azzaz Chemicals This partnership will help in significantly expand the company’s presence & footprint with the Arabian Peninsula. This joint venture expected to strengthen the company’s position in the entire region.
- In March 2021, Vynova introduced ISCC PLUS-certified caustic soda, that is manufactured from clean sources and is being produced at its membrane electrolysis. The newly developed renewable caustic soda has lower carbon footprint as compared to conventional caustic sodas and help customers from wide range of industries to produce more sustainable products.
Sodium Hydroxide Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 50.48 billion |
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Revenue forecast in 2032 |
USD 74.82 billion |
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CAGR |
4.5% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Grade, By Production Process, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Tata Chemicals Limited, Olin Corporation, Occidental Petroleum Corporation, Solvay S.A., BASF SE, Akzo Nobel N.V., Brenntag North America Inc., Xinjiang Zhongtai Chemical Co. Ltd., Westlake Corporation, The Dow Chemical Company, Shandong Haihua Group Co. Ltd., Formosa Plastics Corporation, Ciech S.A., Gujarat Alkalies and Chemicals Ltd., and Aditya Birla Chemicals Limited. |
FAQ's
The global sodium hydroxide market size is expected to reach USD 74.82 billion by 2032.
Key players in the sodium hydroxide market are Tata Chemicals Limited, Olin Corporation, Occidental Petroleum, Solvay, BASF, Akzo Nobel, Brenntag North America, Xinjiang Zhongtai Chemical.
Asia Pacific contribute notably towards the global sodium hydroxide market.
The global sodium hydroxide market is expected to grow at a CAGR of 4.5% during the forecast period.
The sodium hydroxide market report covering key segments are grade, production process, application, and region.
