The global Soda Ash Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Soda Ash Market is expected to reach USD 25.37 billion by 2024. Soda Ash is also termed as sodium carbonate (Na2CO3), soda crystals, or washing soda. It is an alkali chemical polished from the naturally occurring sodium carbonate-bearing brines or mineral trona. It is mainly used as a commercial neutralizing agent. It is anhydrous, white, granular or powdered material exclusively used in manufacturing of detergent chemicals, glass, and others.
Key Players:
- CIECH SA
- DCW Limited
- FMC Corporation
- GHCL Limited
- Nirma Limited
- OCI Chemical Corporation
- Oriental Chemical Industries
- Soda Sanayii A.Ş
- Solvay SA
- Tata Chemicals Limited
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Growth Drivers:
The Soda Ash Market is estimated to grow at a significant CAGR of 2.9% over the forecast period as the scope and its applications are rising enormously across the globe. Growing demand for synthetic and natural products from manufacturers, increasing demand for detergent and soap industry in developing countries, development of chemical industry in developing countries, and high demand from construction & building and automotive industries are documented as major factors of Soda Ash Market that are estimated to enhance the growth in the years to come. However, its impact on environment and presence of alternatives like sodium silicate and caustic soda may restrain overall market in the coming years. Soda Ash Market is segmented based on manufacturing method, grade, application, and region.
Leblanc process, Solvay process, and other manufacturing methods could be explored in Soda Ash in the forecast period. Dense, light, and medium are the major grades that could be explored in Soda Ash in the forecast period. The market may be categorized based on applications like manufacturing, glass, pulp & paper, chemicals, water treatment, soaps and detergents, metallurgy, and others could be explored in the forecast period. Glass sector accounted for the substantial market share of Soda Ash and is estimated to lead the overall market in the coming years. This may be because it reduces the melting temperature of the sand used in glass formation and helps to form an exact shape of glass. Also, soap and detergent and chemicals sector follow suit.
Application Outlook:
- Glass
- Chemicals
- Soaps & detergents
- Metallurgy
- Water treatment
- Pulp & paper
Regional Outlook:
Globally, Asia Pacific accounted for the substantial market share of Soda Ash and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be growing industries in developing countries like Taiwan, China, and India and rising production capacity in China. China is a major consumer of Soda Ash in this region.
Instead, North America is also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, it is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise low cost of natural product. The United States is a major consumer of Soda Ash in this region.
The key players of Soda Ash industry are Solvay SA, Tata Chemicals Limited, Oriental Chemical Industries, DCW Limited, and FMC Corporation. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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