12-Nov-2021 | Zion Market Research
As per the findings of Zion Market Research study, Sodium Hydroxide industry garnered profits worth US$ 27.5 billion in 2020 and is anticipated to amass revenue of approximately US$ 40.2 billion by 2028. Moreover, Sodium Hydroxide market is expected to record a CAGR of approximately 4.5% in 2021-2028. Moreover, large-scale industrial use of sodium hydroxide in acid neutralization, adhesives, absorbents, dyes, de-foamers, adsorbents, finishing agents, ion exchange agents, lubricants, functional fluids, and pigments will enhance size of sodium hydroxide market. Apart from this, high consumer demand for product in animal care sector, sealants, adhesives, C909, construction activities, cleaning & furnishing care products, and automotive will prop up growth of business in coming years. Additionally, escalating application of product in food, personal care & cosmetics, aluminum, fabrics, and pharmaceuticals as well as waste water treatment will help sodium hydroxide market transcend to greater heights of growth in forecasting timeline. Capacity expansion of sodium hydroxide manufacturing units and formation of joint ventures between giant firms are projected to offer huge growth opportunities for sodium hydroxide market across globe in near future. Nonetheless, growing environmental degradation will put brakes on market expansion in coming decade.
Textile To Lead End-Use Industry Segment Over Forecast Timespan
Use of sodium hydroxide in immense proportion in fabric production is likely to unleash new growth avenues for sodium hydroxide market, thereby driving segmental growth. In addition to this, the chemical compound is largely popular among regional clothes manufacturers in emerging economies such as India, Bangladesh, Indonesia, and Southeast Asian countries. This will further elicit expansion of segment in foreseeable future.
Asia Pacific To Hold Regional Market Dominance Over 2021-2028
The progression of sodium hydroxide market in Asia Pacific can be credited to liberal environmental laws pertaining to product usage in various sectors. In addition to this, rise in demand for paperboard and paper in region will further enhance scope of regional market growth. Massive production of jute in Bangladesh and its use in manufacturing fabrics will translate into massive utilization of sodium hydroxide in region as a key chemical component in textile business.
Some of major players have established a strong position in sodium hydroxide market and are likely to influence its growth. We have profiled these giant manufacturers in our market research report and they are Shin-Etsu Chemical Co. Ltd., The DOW Chemical Company, Gujarat Alkalies and Chemicals Limited, Hanwha Chemical Corporation, Aditya Birla Chemicals (India) Limited, BASF SE, INEOS Newton Aycliffe Ltd., Ciech S.A., LG CHEM, LTD., Kemira Chemicals, Inc., Tata Chemicals Ltd., Saudi Arabia Basic Industries Corporation, Shandong Haihua Group Co., Ltd., Solvay SA, Bayer AG, Tokuyama Corporation, Formosa Plastics Corp., PPG Industries, Axiall LLC, and Occidental Chemical Corporation.
Browse the full “Sodium Hydroxide Market- By Product (Liquid Form And Solid Form), By End-Use Industry (Pulp & Paper, Personal Care, Pharmaceutical, Food, Petroleum, Aluminum, And Textile), By Application (Cleaning Agent, Catalyst, And Additive), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/sodium-hydroxide-market
The global Sodium Hydroxide Market is segmented as follows:
By End-Use Industry
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