PUNE, India, Sept. 22, 2022 /PRNewswire/ — ReportsnReports added Global Sodium Hydroxide Market by Grade (Solid, 50% Aqueous Solution), Production Process, Application (Biodiesel, Alumina, Inorganic Chemicals, Organic Chemicals, Food, Pulp & Paper, Soap & Detergent, Textiles, Water Treatment) Region and Forecast to 2027.
The global Sodium Hydroxide market is projected to grow from USD 49.3 Billion in 2022 to USD 61.1 Billion by 2027, at a CAGR of 4.4% during the forecast period. The booming construction industry, including both residential and non-residential infrastructure across the world, is one of the major factors boosting the demand for paints & coatings. The titanium dioxide market is driven by the paints & coatings application in the construction and automotive industries, which is likely to have a positive impact on the sodium hydroxide market.
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“Organic Chemicals is projected to be the fastest-growing segment by application in Sodium Hydroxide market”
Based on application, organic chemical is estimated to be the fastest-growing segment of Sodium Hydroxide during the forecast period. Some of the major organic chemicals made from sodium hydroxide include propylene oxide, polycarbonates, ethylene amines, and epichlorohydrin; additionally, manufacturers of many organic chemicals use sodium hydroxide in neutralization and gas scrubbing. Propylene oxide is used in the production of polyether polyols, which are used for manufacturing rigid and flexible polyurethane foams. Both rigid and flexible foams are used in car seats, hand rest, over liners, floors, and in other various interior, exterior, and under-the-bonnet applications. Epichlorohydrin has a wide range of applications in numerous end-use industries, which include paints & coatings, building & construction, and electronics & electrical systems. Thus, the growing automotive industry is one of the key driving factors in the sodium hydroxide market
“Membrane cell process is projected to be the fastest-growing segment by production process in Sodium Hydroxide market”
Membrane cell is estimated to be the fastest-growing segment by the production process in the Sodium Hydroxide market during the forecast period. The membrane cell method utilizes a selective membrane that separates the chlorine and sodium ions. The membrane permits the sodium ion to migrate across the membrane, keeping the chlorine gas and salt (brine) solution in a compartment on the opposite facet of the membrane. Companies are shifting toward the use of membrane cell technology due to safe raw materials, low electricity consumption, and the production of high-quality caustic soda.
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“Asia Pacific is projected to be the fastest growing segment in Sodium Hydroxide market by region”
Asia Pacific is the largest and fastest growing market for Sodium Hydroxide, followed by North America and Europe. China is the largest country-wise market in the region, and this trend is projected to continue over the next five years. The growth of the market in the region is led by rapid industrialization, rising demand from various applications, and increasing government spending. Different companies are focusing on these emerging markets and increasing their footprints by setting up manufacturing facilities, distribution centers, and research & development centers
- The break-up of primary interviews is given below:
- By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
- By Designation: C-level Executives: 20%, Directors: 30%, and Others: 50%
- By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, ROW: 30%
Notes: Others include sales, marketing, and product managers.
Tier 1: >USD 1 billion; Tier 2: USD 500 million–1 billion; and Tier 3: < USD 500 million
The companies profiled in this market research report include are Tata Chemicals Limited (India), Olin Corporation (US), Westlake Corporation (US), Occidental Petroleum Corporation (US), Dow (US), Solvay S.A (Belgium), BASF SE (Germany), Xinjiang Zhongtai Chemical Co. Ltd (China), Akzo Nobel N.V (Netherlands), Brenntag North America, Inc (US), and others.
This research report categorizes the Sodium Hydroxide market on the basis of application, grade, production process and region. The report includes detailed information regarding the major factors influencing the growth of the Sodium Hydroxide market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, and recent developments associated with the market.
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Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the Sodium Hydroxide market comprehensively and provides the closest approximations of market sizes for the overall market and sub segments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, and joint ventures.
Another Related Report:
Sodium Hydroxide Global Market Insights 2020, Analysis and Forecast to 2025, by Manufacturers, Regions, Technology, Application, Product Type – This report describes the global market size of Sodium Hydroxide from 2016 to 2020 and its CAGR from 2016 to 2020, and also forecasts its market size to the end of 2026 and its CAGR from 2021 to 2026. Companies Covered: Solvay, Olin, Occidental Petroleum Corporation, Formosa Plastics, Westlake Chemical, Tosoh, Aditya Birla, Shin-Etsu, LG Chem, Hanwha Chemical, Xinjiang Zhongtai, Xinjiang Tianye, ChemChina, GACL, AGC and Others. Get a Free Sample Copy of this Research Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=4269379
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