Sodium Hydroxide Market Size Worth $74.82 Billion By 2032 | CAGR: 4.5%

Sodium Hydroxide Market Size Worth $74.82 Billion By 2032 | CAGR: 4.5%


The global sodium hydroxide market size is expected to reach USD 74.82 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The surge in the water purification and waste management industry with the significant rise in attentiveness for the water preservation, waste management, and common fright of running out of the potable water along with the sustained demand for alumina, textiles, and paper globally, are major prominent factors propelling the demand and growth of the market. Moreover, the growing focus of major key players of the market on developing and innovating more advanced product solutions and expansion of their production facilities, will also push the market growth forward in the near future.

For instance, in February 2022, Occidental Petroleum’s chemical division announced that they are considering an overhaul of some chlor-alkali plants to boost the production capacity of higher-value caustic soda. It would further reduce the carbon intensity per ton and help the company to meet the rising demand for their products.

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In the recent years, there are many and improved production methods for sodium hydroxide are being developed such as the use of membrane cell technology and enhanced electrolysis processes which resulting in higher efficiency and reduced energy consumption. Apart from this, there has been a growing emphasis on sustainable sourcing of raw materials used in the product production processes including the use of renewable energy sources and recycled materials.

With the rising awareness regarding the sustainability and high-quality products, the demand for eco-friendly products and processes is rapidly emerging and businesses can explore opportunities by investing heavily in sustainable production processes for the product including the reduction in water usage in production, that creates huge growth potential for the global market.

Sodium Hydroxide Market Report Highlights

  • 50% aqueous solution segment is projected to grow at a high CAGR over the forecast period, mainly due to growing product adoption as a chemical reactant in numerous industries
  • Membrane cell segment accounted for largest market share in 2022, on account its variety of beneficial features including high-purity product and lower environmental impacts
  • Organic chemicals segment held the majority market share in 2022 which is mainly driven by growing use of product in the manufacturing of plastics and huge demand from end-use industries
  • Asia Pacific region dominated the global market with largest share in 2022, owing to the increasing government spending and rapid rate of industrialization in developing nations across the region
  • The global key market players include Occidental Petroleum Corporation, Solvay, Akzo Nobel, Olin Corporation, Tata Chemicals, and Gujarat Alkalies and Chemicals Limited.

Polaris Market Research has segmented the sodium hydroxide market report based on grade, production process, application, and region:

Sodium Hydroxide, Grade Outlook (Revenue - USD Billion, 2019 - 2032)

  • Solid
  • 50% Aqueous Solution
  • Others

Sodium Hydroxide, Production Process Outlook (Revenue - USD Billion, 2019 - 2032)

  • Membrane Cell
  • Diaphragm Cell
  • Others

Sodium Hydroxide, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Biodiesel
  • Alumina
  • Inorganic Chemicals
  • Organic Chemicals
  • Food
  • Pulp & Paper
  • Soaps & Detergent
  • Textiles
  • Water Treatment
  • Others

Sodium Hydroxide, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Sodium Hydroxide Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 50.48 billion

Revenue forecast in 2032

USD 74.82 billion

CAGR

4.5% from 2023 – 2032

Base year

2022

Historical data

2019– 2021

Forecast period

2023– 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments covered

By Grade, By Production Process, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

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.

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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