According to a new report, published by KBV research, The Global Caustic Soda Market size is expected to reach $63.8 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 83,252.5 Kilo Tonnes experiencing a growth of 4.7% (2019-2022).
Sodium hydroxide (NaOH), also known as caustic soda, is an essential chemical compound that finds various industrial applications. It is produced through several processes, three of which are the Castner-Kellner process, Nelson Diaphragm cell, and Loewig’s process. The Castner-Kellner process, named after its inventors Hamilton Castner and Karl Kellner, is one of the oldest methods for manufacturing caustic soda. This process involves the electrolysis of a brine solution (sodium chloride dissolved in water).
The Organic Chemical segment led the Global Caustic Soda Market by Application in 2022; thereby, achieving a market value of $15.6 billion by 2030. Caustic soda is used as a key raw material in producing organic chemicals such as ethylene glycol, propylene oxide, and various surfactants. It is also used as a catalyst in several chemical reactions. Caustic soda is used as a catalyst in producing organic chemicals such as biodiesel, where it helps to facilitate the transesterification process. It is also used to produce certain plastics and synthetic fibers, where it acts as a catalyst in polymerization reactions.
The Membrane Cell segment is growing at a CAGR of 4.9 % during the forecast period. The membrane cell process is considered more environmentally friendly than the traditional mercury-based electrolysis method, as it eliminates the use of mercury and reduces energy consumption and greenhouse gas emissions. This aligns with consumers' and regulatory bodies' growing preference for eco-friendly production methods. Additionally, the membrane cell process offers higher energy efficiency and lower operating costs compared to the mercury-based process. As a result, many companies are investing in upgrading their production facilities to adopt the membrane cell process to improve their competitiveness in the market.
Full Report: https://www.kbvresearch.com/caustic-soda-market/
The Asia Pacific region dominated the Global Caustic Soda Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33.8 Billion by 2030. The North America region is anticipated to grow at a CAGR of 4.9% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 5.1% during (2023 - 2030).
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Production Process
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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