CHICAGO, July 9, 2024 /PRNewswire/ -- The report
"Sodium Hydroxide Market by Grade (Solid,
50% Aqueous Solution), Production Process, Application (Biodiesel,
Alumina, Inorganic Chemicals, Organic Chemicals, Food, Pulp &
Paper, Soap & Detergent, Textiles, Water Treatment), Region -
Global Forecast to 2029", Sodium Hydroxide Market size is
projected to grow from USD 44.9 billion in 2024 and is
projected to reach USD 55.6 billion by 2029, at a CAGR of
4.4%.
The sodium hydroxide market is poised for substantial expansion due
to the rising utilization and demand for alumina. Alumina is a key
element derived from sodium hydroxide, finds widespread application
in the construction sector, primarily due to its remarkable
characteristics, including its exceptional durability, lightweight
nature, and cost-efficient attributes. As the construction industry
continues to seek materials that offer superior performance while
maintaining economic viability, the demand for alumina is projected
to increase, consequently driving growth in the sodium hydroxide
market.
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"Organic chemicals segment is estimated to be the largest
application segment of sodium hydroxide."
Organic chemicals constitute a significant portion of the
chemical industry, encompassing a wide range of compounds essential
for various applications. This category includes formaldehyde,
citric acid, acetic acid, methanol, ethyl alcohol, aldehydes,
esters, aliphatic ketones, aromatic compounds, polymers, amides,
and other foundational organic chemicals. These chemicals serve as
crucial building blocks to produce drugs, pesticides, plastics,
cosmetics, agrochemicals, and more.
Among the numerous organic chemicals manufactured with the aid
of sodium hydroxide, some key examples include propylene oxide,
polycarbonates, ethylene amines, and epichlorohydrin. Caustic soda
plays a prominent role in these processes, often used for
neutralization and gas scrubbing. Overall, the organic chemical
segment of the industry is diverse and vital, providing the
foundational materials for a vast array of products essential to
modern life.
"By Grade, 50% Aqueous Solution grade of the sodium hydroxide
market is expected to account for the largest share during the
forecast period."
Aqueous solutions containing 50% w/w of sodium hydroxide find
extensive application across various industries, serving as a
versatile neutralization agent and chemical reactant. Utilization
of sodium hydroxide spans across sectors including chemical, soaps
and detergents, textile, pulp & paper, metal, and food
industries, as well as in the production of pharmaceutical.
In the textile industry, caustic soda helps in the processing of
rayon. Moreover, it plays a crucial role in food manufacturing
processes, ensuring pH adjustment, and facilitating the production
of various food products. One notable application lies in the
manufacturing of biodiesel, where sodium hydroxide contributes to
the formation of in situ sodium methylate. This process enhances
the efficiency of biofuel production, demonstrating sodium
hydroxide's importance in renewable energy initiatives. The
wide-ranging uses of sodium hydroxide underscore its significance
as a foundational component in numerous industrial processes,
contributing to the production of essential goods across various
sectors.
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In 2023, the Asia Pacific
region dominated the Sodium Hydroxide market, holding the largest
market share, followed by Europe
and North America. Notably,
China emerged as the leading
market within the Asia Pacific
region followed by India. This
trend expected to persist over the forthcoming five years. This
prominence can be attributed to heightened demand within the
alumina application industry, primarily fueled by a surge in
construction activities across emerging markets. Consequently, the
demand for sodium hydroxide experienced a notable upswing in
2023.
The key players profiled in the report include are Tata
Chemicals Ltd. (India), Olin
Corporation (US), Westlake Corporation (US), Occidental Petroleum
Corporation (US), Dow (US), Formosa Plastics Corporation
(Taiwan), BASF SE (Germany), Xinjiang Zhongtai Chemical Co., Ltd
(China), Nouryon (Netherlands), Grasim Industries Limited
(India) and others among are the
major players in the sodium hydroxide market.
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