The primary source of sodium carbonate that roughly accounts for over a fourth of the world’s soda ash output, trona continues to garner attention around its high sustainability quotient. The global trona market report by Fairfield Market Research is one of the latest ongoing studies of the company that sheds light on the multiple facets of trona space and uncovers an insightful analysis of the growth forecast of market. The study clearly underscores trona consumption to be driven by the relentless industrialisation worldwide, which remains a constant fuel to soda ash manufacturing, thereby to the production of trona.
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Market to Leverage Greater Sustainability of Trona
While trona plays a pivotal role in minimising the impact of greenhouse gas (GHG) emissions by removing sulphuric, hydrochloric, and hydrofluoric acids from them, it also has a role to play in enabling power generation plants to ensure remarkably reduced carbon emissions. Abilities of trona to participate in and promote minimisation of the carbon footprint are likely to unlock multiple growth opportunities in global market. In line with this, new profitable avenues are expected to spring up in the field of biogas power generation, says the report.
Adoption Opportunities to Re-emerge in Auto Industry as Brands Regain Pace post-2020
While around half of the overall soda ash production is consumed by glass manufacturers, a majority of it goes to automotive industry. Automaking giants largely depend on aluminium, and steel, which is likely to remain a strong booster to trona sales. Although 2020 turned out to be disaster for automotive manufacturers, the slump only seems to be temporary with strong signs of revival in the near future. With auto industry regaining its lost momentum, and consumers worldwide returning to their routine mobility solutions, trona consumption is highly likely to see an uptrend soon. This trend is expected to be particularly prominent in Asia Pacific as the region is a hub of over 50% of the world’s auto production.
The US Hegemony in Trona Market Prevails
To meet escalating demand for natural soda ash, trona miners based out of the US have been operating at the highest of their capacity. North American market for trona will most likely retain its dominance based on continuous efforts of the US-based power plants, and coal-fired industrial boilers to comply with the Air Pollution Control Act, 1995. Increasing employment of flue gas desulfurization systems in industrial boilers will continue to offer an impetus to trona consumption, especially in the US. Although highly competitive, the market here largely benefits from the relatively convenient extraction of natural trona, making it more cost-effective as well.
Leading Companies Operating in Global Trona Market
Some of the prominent players stirring the competition in global trona market are Ciner Resources Corporation, Genesis Energy, L.P., Tata Chemicals Ltd., Nirma (Searles Valley Minerals Inc.), Solvay Chemicals, OCI Company Ltd., Eti Soda Elektrik, and FMC Corporation. Recently in 2020, Ciner Corp. announced its exit from the collaboration with its longstanding chosen exclusive exporter, i.e., ANSAC. as its exclusive exporter for U.S. produced soda ash. The exit deal is intended to enable both the entities to optimise their supply chains. The long-term goal will be to achieve improved product quality, thereby enhance customer satisfaction.
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