Sodium Hydroxide Market is Estimated to Witness High Growth Owing to Wide Range of Applications
Sodium hydroxide, commonly known as caustic soda, is an inorganic compound widely used in many industrial applications. Some key uses of sodium hydroxide include in paper and pulp industry for processing wood into paper, textile industry for processing cotton and removing dyes, soap and detergent industry as a principal ingredient, aluminum industry for processing bauxite into aluminum, and petrochemical industry in manufacturing of biodiesel. It has strong alkaline properties and can dissolve proteins and lipids, making it essential in cleaning products. The rising demand from end-use industries like pulp and paper, textiles, soaps and detergents, petrochemicals, and aluminum is propelling the growth of sodium hydroxide market.
The Global sodium hydroxide market is estimated to be valued at US$ 5.38 Bn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the sodium hydroxide market are Dow, DuPont, Sanmar Group, Gujarat Alkalies and Chemicals Limited, Bayer AG, GACL Ltd., Aditya Birla Chemicals, BSC Chemicals, Tokuyama Corporation., Covestro, BASF, Olin Corporation, Westlake Corporation, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co. Ltd, Akzo Nobel N.V, Brenntag North America, Inc, Vizag chemical, Astrra Chemicals, Vinayak Chemicals, and Ottokemi.
The key opportunities in the Sodium Hydroxide Market Trends include expanding application scope in various end-use industries like paper and pulp, textiles, soaps and detergents, petrochemicals, aluminum, and opportunities emerging from technological advancements in membrane cell and casting techniques.
Technological advancements like membrane cell technology and casting technique are helping producers lower production costs and increase output. Membrane cell technology helps achieve higher efficiency with lower energy consumption compared to traditional mercury cell process.
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