Soda Ash Market | Uses, Price, Growth, Key Players, Development Strategy, Sales Revenue and Forecast 2023
Soda Ash Market Information by Type (Natural and Synthetic), Application (Glass, Soap & Detergents, Chemicals, Pulp & Paper, Metal Processing, Water Treatment), and Region (Asia-Pacific, North America, Europe, Latin America)—Forecast till 2025
Soda Ash Market Size is expected to register a moderate CAGR of around 4% during the forecast period of 2019–2025 and is projected to be valued over USD 24 billion by the end of 2025.
Market Highlights
Soda Ash is anhydrous salt form of sodium carbonate. It is also known as washing soda with molecular formula (Na2CO3). Soda Ash possess inherent properties which make it used as component on largescale in domestic and industrial products. Soda Ash is found in white powder as well as granules and is odorless alkali chemical solution in water.
Defination
Soda Ash is used as cleaning agent and detergent in many household activities. It acts as additive in food industry. Thus, growing soaps & detergents in household activities is driving the demand for global soda ash market. The hydroscopic nature of soda ash make it viable to use in paper & pulp industry.
Moreover, ability of soda ash to reduce pH value and soften hard water has driven the demand in cleaning and water treatment facility. The increase in demand by government for water treatment in emerging economies is expected to boost the demand for Soda Ash market. Glass segment dominates the global soda ash market owing to increase in production of flat glass and container in construction activities. Rising demand for soda as from fiber glass and silicates is expected to open opportunities for soda ash manufacturer in untapped market region.
Substitutes like caustic soda and sodium silicate can restrain the market growth of soda ash in near future. Increasing R&D for substitute, fluctuating prices of synthetic soda ash and limited availability of natural soda ash is hampering the market expansion of soda ash in coming years. Developed regions like Europe has shut down synthetic processing plant which is restricting further growth of soda ash market over the forecasted period.
to this continuous growth of pharmaceutical sector is expected to propel the market growth.
Soda Ash Market Players
- Tata Chemicals Limited (India)
- Solvay S.A. (Belgium),
- OCI Wyoming, LLC (U.S)
- Nirma Limited, (India)
- Searles Valley Minerals (U.S)
- GHCL Limited (India)
- FMC Corporation (US)
- Ciech SA (Poland)
- Oriental Chemical Industries (Korea)
- Soda Sanayii (Turkey)
Competitive Analysis
Fluctuating prices of crude oil and rising energy prices have challenged many manufacturers to tackle with suitable cost-pricing policies. Low cost of natural soda ash particularly in US is benefitting producer in these regions.
The key players are expected to exert pressure on exports especially in China and India due to energy intensive synthetic soda ash manufacturing. Developed market such as Europe show negative impact due to shut down of many synthetic soda ash manufacturers and turning to new substitute through research and development.
Segmentation
The global Soda Ash market is majorly segmented on the basis of application. Based on application of Soda Ash the market is segmented into Glass, Soaps & Detergents, Water Treatment, Chemicals, Pulp & Paper, Metallurgy
Regional analysis:
The Asia-Pacific Soda Ash market is expected to grow due to growing application industry. China consumes largest market share in global soda ash market. The report estimates the size of the Soda Ash market, both in terms of volume and value. Other regions like India, Indonesia and Brazil are expected to drive the demand owing to lenient regulations by government in setting up industries and producing large amounts of products to meet growing population demand.
The Chinese economy maintains a slow growth due to stocking up of inventory as being largest producer and tackling the US natural soda ash prices globally. North America witnessed a positive growth due to natural soda ash demand over synthetic soda ash.
Europe are expected to witnessed a sluggish growth owing to stringent regulation for producing synthetic soda ash. Major players in these are shifting towards eco-friendly products which is easily available and lower in cost.
Browse Complete Report Summary @ https://www.marketresearchfuture.com/reports/soda-ash-market-2339