A recent research study published by MarkNtel Advisors cites that the Global Caustic Soda Market is set to register more than 5% CAGR during 2022-27. The burgeoning sales of soaps & detergents owing to escalating consumer requirements for maintaining hygiene and curbing the increasing prevalence of various diseases are driving the global market. Besides, the rising demand for pulp & paper, cardboard, etc., in the packaging industry, coupled with the swiftly expanding automotive sector & its mounting need for aluminum, are also augmenting the growth of the caustic soda market globally.
Furthermore, the mounting water scarcity and a dire need for suitable treatment chemicals to absorb contaminants are also accelerating the demand for caustic soda owing to its ability to elevate pH levels and absorb carbon dioxide & dirt from the water. Hence, these aspects project lucrative opportunities for the global market through 2027, further states the research report, “Global Caustic Soda Market Analysis, 2022.”
Scouring, Mercerizing, & Finishing Processes in the Textile Industry to Boost the Caustic Soda Market
Textile manufacturing applications are anticipated to demonstrate the fastest growth in the Global Caustic Soda Market and generate lucrative opportunities for the leading players during 2022-27. It attributes principally to the swiftly expanding textile industry across different regions and the mounting demand for caustic soda for processes like scouring and mercerizing, i.e., a treatment to increase the strength, dye affinity, & luster of the fabric.
Several raw materials used in the textile industry contain unwanted substances that must be removed or dissolved to produce the final cloth. It is where the application of caustic soda aids in scouring the soda in an alkaline solution to remove contaminated materials like oil, wax, impurities, etc., from the fabric.
Besides, the rising demand for caustic soda in the textile industry attributes also to attain a finishing in the manufacturing process of any fabric while enhancing the properties of the final product. Hence, the maximum utilization of caustic soda in the rapidly expanding textile industry is predicted to boost the global market in the years to come.
With Gigantic Textile & Automotive Industries, Asia-Pacific to Lead the Caustic Soda Market
During 2022-27, Asia-Pacific Caustic Soda Market is projected to be the largest among all regions. It owes to countries like China, India, Vietnam, & Japan being the massive producers & consumers of caustic soda, i.e., encouraging the leading companies to increase their production capabilities & expand their visibility throughout the region.
Besides, the massive automotive & textile industries across Asia-Pacific are also portraying an immense need for caustic soda. Nonetheless, the exponentially rising population and their mounting consumption of soaps & detergents are other prominent aspects projected to augment the Asia-Pacific Caustic Soda Market in the years ahead.
Competitive Landscape
The major companies in the Global Caustic Soda Market include Aditya Birla Chemicals, Brenntag North America, Inc., Covestro AG., Dow Chemical Company, Formosa Plastics Corporation, FMC Corporation, Gujarat Alkalies & Chemical Limited, Hanwha Chemical, INEOS Group Limited, Occidental Petroleum Corporation (OXY), Olin Corporation, PPG Industries, Solvay SA, Tata Chemicals Limited, Tosoh Corporation, and Xinjiang Zhongtai Chemical Co., Ltd.
Key Questions Answered in the Research Report
Market Segmentation: