Global Sodium Hydroxide Market Insights
Global Sodium Hydroxide Market size was valued at USD 28732.69 million in 2021 and is poised to grow from USD 29882.6 million in 2022 to USD 46048.7 million by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
Sodium hydroxide is a crucial chemical in the pulp and paper industry used for the manufacturing of bleached pulp. In addition to the global demand for paper and packaging materials, sodium hydroxide demand is also increasing. Sodium hydroxide is used to make rayon, a synthetic fiber used in the textile industry. The demand for sodium hydroxide is growing as a result of the flexibility, resilience, and environmental friendliness of rayon.
In addition to being used to create aspirin, sodium hydroxide is also used to create anticoagulants, which help to prevent the formation of blood clots, and drugs that decrease cholesterol. The need for these drugs has significantly increased since Covid-19 spread since so many people died from blood clots even after recovering from the condition. The production of metals, the treatment of water, and the production of soaps and detergents all employ caustic soda, so these industries are expected to drive the need for sodium hydroxide in the coming years. However, the costly manufacturing of NaOH and available alternatives like potassium oxide can restrict market expansion.
The market for sodium hydroxide has an opportunity as a consequence of the increasing emphasis on sustainability, which is driving the demand for environmentally friendly products and practices. In order to clean out impurities and pollutants from water, sodium hydroxide is utilized in the process. It is also used to make soaps and detergents that are more eco-friendly. Opportunities for higher efficiency and cost reductions are being generated by the development of new and improved sodium hydroxide manufacturing processes. For instance, significant advancements in energy efficiency and environmental sustainability have indeed been made as a result of the development of membrane cell technology for the production of sodium hydroxide.
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Analysis:
Segmental Analysis
Global Sodium Hydroxide Market is segmented based on Form, Production Type, Application, Grade and region. Based on Form, the Sodium Hydroxide Market is segmented into Solid and Liquid. Based on Production Type, the Sodium Hydroxide Market is segmented into Mercury Cells, Membrane Cells, Diaphragm Cells. Based on Application, the Sodium Hydroxide Market is segmented into Pulp and Paper, Alumina, Organics, Inorganics, Soap & Detergent, Water Treatment, Textile Industry, Biopharma, Food Industry, Others. Based on Grade, the Sodium Hydroxide Market is segmented into ACS Grade, Rayon Grade, Food Grade, Laboratory Grade, Industrial Grade, Pharmaceutical Grade, Other. Based on region, the global Sodium Hydroxide Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Production Type
The membrane cell segment dominated the global sodium hydroxide market. The membrane cell process has several advantages over other methods, such as the mercury cell process and diaphragm cell process. For example, it is more energy-efficient, produces higher purity sodium hydroxide, and has fewer environmental impacts. The increasing demand for sodium hydroxide in various industries, including pulp and paper, textiles, and chemicals, as a key driver for the segment growth.
Analysis by Application
In terms of volume, pulp and paper emerged as the dominant player for sodium hydroxide, accounting for more over 35% of the market. The product is employed in the operations of pulping, bleaching, and papermaking. The demand for sodium hydroxide in the pulp and paper industry is driven by the increasing demand for paper and packaging products, particularly in emerging economies. The growth of e-commerce and online retail has also contributed to the demand for paper-based packaging materials, which in turn has increased the demand for sodium hydroxide.
Sodium Hydroxide Market Top Player’s Company Profiles
- Dow Chemical Company
- Solvay SA
- AkzoNobel N.V.
- Formosa Plastics Corporation
- Occidental Petroleum Corporation
- Hanwha Chemical Corporation
- Olin Corporation
- Tosoh Corporation
- Axiall Corporation
- Shin-Etsu Chemical Co. Ltd.
- Ineos Group Limited
- FMC Corporation
- Nouryon
- Tata Chemicals Limited
- PPG Industries, Inc.
- Gujarat Alkalies and Chemicals Ltd.
- Occidental Chemical Corporation
- Aditya Birla Chemicals
- Arkema Group
- BASF SE
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