Sodium hydroxide, or caustic soda or lye, is an odorless and non-flammable white solid which is commercially available in the form of flakes, pellets, granules, and aqueous solutions of different concentrations. The major applications of sodium hydroxide are its usage in drain cleaner, detergents, soaps, drinking water, textiles, pulp & paper, and others. The global sodium hydroxide market is anticipated to develop at a momentous growth rate, accredited to growing application of the compound for industrial application.
COVID-19 Impact analysis
The COVID-19 pandemic had an adverse effect on the sodium hydroxide market. The major end use industries of Sodium hydroxide, namely aluminum, textile, food & beverage and paper & pulp industries suffered a noteworthy setback due to the pandemic. The demand for the products entailing to the above-mentioned industries declined sharply, which in turn, led to drop in demand for Sodium hydroxide due to the lockdown. The aluminum producing industries were shut down for a long time, whereas the food & beverages industry also faced a tough time due to decreased demand owing to the lockdown. The demand for paper & pulp and textiles also dropped sharply, leading to a drop in demand of Sodium hydroxide. Altogether, the Sodium hydroxide market witnessed a slump due to the COVID-19 pandemic but is still anticipated to flourish in the post pandemic forecast period.
Top Impacting Factors
- The major drivers of the sodium hydroxide or caustic soda market are its use in the production of alumina and the textile industry. These end use industries contribute to leading market share of the sodium hydroxide consumption market and therefore directly affect the production market. The sustained demand for alumina, paper, and textiles due to rise in population, evolution in the automobile & construction industry, and improvements in economic situation pose as major propellants for the sodium hydroxide market.
- Sodium hydroxide is also projected to witness a growth in the water purification and waste management Industry with the global rise in attentiveness for water preservation, waste management and the common fright of running out of potable water.
- Due to its ease of availability and affordability over its alternatives, it is considered as one of the desired chemical compounds engaged to control acidity and eliminate heavy metals from water. Furthermore, sodium hydroxide (NaOH) costs less than its substitute available, which is potassium hydroxide.
- The major restraint to the growth of the sodium hydroxide market is its hazardous nature due to which it has heavy regulations on it storage, usage and disposal after use.
- The major key trend for the sodium hydroxide market is the growing demand for PVC products. PVC is manufactured with chlorine as a raw material and the production of sodium hydroxide releases chlorine as a byproduct with directly adds to the value chain of its manufacturing. Henceforth, with the growing demand for PVC and Alumina Market, for which sodium hydroxide is an essential raw material, the Sodium Hydroxide market is estimated to grow positively.
- Asia-Pacific nations are expected to occupy the major share of the sodium hydroxide market due to the significant high demand from the textile and pulp & paper industry in the region. Following Asia-Pacific region is the North America region, attributed to high demand for sodium hydroxide for research institutes in the region.
Key Benefits of the Report
- This study presents the analytical depiction of the Sodium Hydroxide industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Sodium Hydroxide market share.
- The current market is quantitatively analyzed to highlight the Sodium Hydroxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Sodium Hydroxide market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Sodium Hydroxide Report
- Who are the leading market players active in the Sodium Hydroxide market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Upcoming Report specific FAQs Examples: Can be utilized randomly 4-5 FAQs per RD OR other from own suggestions, suitable for upcoming report.
- What is "Sodium Hydroxide"?
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- Which technologies combine to make "Sodium Hydroxide" a critical organizational asset?
- What is "Sodium Hydroxide" Market prediction in the future?
- Who are the leading global players in the "Sodium Hydroxide" Market?
- What are the current trends and predicted trends?
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- What are the key benefits of the "Sodium Hydroxide" Market report?
- What will be the anticipated growth rates for your own Sodium Hydroxide Market economy altogether and also for every segment inside?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
Sodium Hydroxide Market Report Highlights
By End Use Industry
By Product Form
Key Market Players
Tokuyama Corporation., BSC Chemicals, GACL Ltd., Sanmar Group, Tata Chemicals Ltd., Dow DuPont, Bayer AG, INEOS Newton Aycliffe Ltd., Covestro, BASF, Gujarat Alkalies and Chemicals Limited, Sigma Aldrich, Aditya Birla Chemicals