Key players in the Global Caustic Soda Market include Occidental Petroleum Corporation (U.S.), Olin Corporation (U.S.), Hanwha Chemical Corporation (South Korea), Solvay SA (Belgium), Tata Chemicals Limited (India).
(PRWEB) April 02, 2015
The global caustic soda market was valued at $27,720.5 million in 2014, and is expected to reach $38,484.4 million by 2019, at a CAGR of 6.7% from 2014 to 2019.
Browse through the TOC of Caustic Soda Market for an analysis of industry trends, segments & forecasts.
Caustic soda is an important component in the petroleum, alumina, and pulp & paper industries, and is commonly used in all chemical industries. The various other applications where caustic soda is used are recycling of rubber, neutralizing acids, and synthesis of pharmaceutical compounds.
Various factors, like high demand in the end-user market and strong growth due to high production capacity of industries in the emerging economies are some of the reasons for the growth of the global caustic soda market.
The caustic soda market has been segmented based on geography and application. The geography segmented comprise of major countries in the region, including Asia-Pacific, Europe, North America, and Rest of the World (RoW).
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The Asia-Pacific region contributed a share of around 52.0% to the global caustic soda market. The caustic soda market in Asia-Pacific is projected to grow at a CAGR of 7.1% from 2014 to 2019.
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In terms of applications, the food, pulp & paper, and organic chemicals segments are the major segments of the global caustic soda market. The food, pulp & paper segment contributed a share of 22.0% to this market in 2014. It is projected to grow at a CAGR of 6.7% from 2014 to 2019. The organic chemicals segment contributed a share of 20.0% to this market, and is expected to grow at a CAGR of 6.4% during the forecast period.
Joint ventures and expansions are the key growth strategies adopted by the key players in this market. Manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications to match the ever-growing demand coming from various end-user industries.
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