Caustic soda is known as Sodium Hydroxide and is one of the important chemicals for use in the FMCG sector. It is used for several processes right from development to packaging stage. The functionality of caustic soda formulates a prominent place in development of several products. Also, on the commercial front, caustic soda is preferred in aqueous solutions. Being chemically alkaline by nature, it is highly flammable and has the potential to cause a severe burn. It dissolves in air on reacting with moisture which in return causes ignition.
Caustic soda is industrially used in paper & pulp industry, chemical and aluminum industry. With features such as durability and a wide range of applications in diverse industries, the primary users of caustic soda are water treatment and water purification process and cleaning agent manufacturing agencies.
the market is highly driven by rise in automotive industry and increase in demand for alumina for commercial vehicles. Secondary factors such as inflated demands from chemicals industry and growing demand for pulp & paper industry is likely to grow at a remarkable CAGR in the near future. However, cheaper substitutes and lack of awareness results in slow paced developments for market.
Organic chemicals, inorganic chemicals, soaps and detergents, food, pulp & paper, water treatment, sintering and steel/metallurgy account for application segment under caustic soda market. Water treatment plants account for a greater CAGR in the near future owing to rise in water filtering processes and use of alumina for water filtration.
Asia-Pacific is a larger market as the consumption is high and strategic alliances such as merger & acquisitions and growth strategies adopted by key players. In addition, rise in chemical industries such as food, pulp & paper have resulted in potential growth exhibiting lucrative opportunities for future market developments. China, Taiwan and India are the major commercial hubs for caustic soda market.
North America market accounts for a remarkable growth scenario on account of rise partnership agreements between multiple companies. Rise in import and export business is also a deciding factor for the market growth in the near future. European regions have a determined trend that conduct under stringent norms and regulations doled out by government agencies.
The key players in the caustic soda market include DoWDupont, Arkema Group, FMC Corporation, Kemira SABIC, Olin Corporation, Tata Chemicals, Xinjiang Zhongati Chemicals Co Ltd, Tosoh Corporation, FMC Corporation, Nirma Limited, Hanwha Chemical Corporation, Solvay Chemicals and Occidental Petroleum Corporation.