Sodium Hydroxide Market Size, Share, Trends, Value 2030

Sodium Hydroxide Market Size

The global Sodium Hydroxide Market accrued earnings worth approximately 27.5 (USD Billion) in 2020 and is predicted to gain revenue of about 40.2(USD Billion) by 2028, is set to record a CAGR of nearly 4.5% over the period from 2021 to 2028. The report offers an assessment and analysis of the Sodium Hydroxide Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Sodium Hydroxide Market: Overview

Sodium hydroxide is an inorganic compound also referred to as caustic soda. Moreover, the product is available in flakes, granules, pellets, and solution forms. Additionally, the chemical compound finds a slew of applications in soaps, drain cleaners, textiles, and pulp & paper. Furthermore, the compound is a white crystalline odorless substance that can absorb moisture from the atmosphere. After dissolving in water it liberates substantial heat that can prove enough in igniting combustible substances. It has a corrosive feature and can be used either as a solid or in a fifty percent solution form.

In addition to this, the chemical compound is utilized in cotton fabric processing, bleaching & laundering, metal cleansing & processing, electroplating, electrolytic extracting, and oxide coating. As per FDA, sodium hydroxide is considered a direct food substance labeled as generally recognized as a safe product.

The substance offers services as pH controlling agent and abides by production guidelines. Reportedly, sodium hydroxide has been examined by performing various clinical trials for its use in treating prion disorder. It has been confirmed through clinical trials that the chemical compound minimizes prion levels in an in-vitro inactivation assay. The chemical product is used for manufacturing sodium salt and alkaline ore used for digestive purposes.

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Sodium Hydroxide Market: Growth Drivers

Surge in use of sodium hydroxide in food additives, construction, paper & pulp, textiles, agrochemicals, cosmetics, fire hazards as flame retardant, and pharmaceuticals will steer expansion of sodium hydroxide market. Apart from this, it is utilized in process of saponification that helps in converting vegetable oil into soap. Furthermore, the chemical compound is also used for manufacturing anionic surfactants. In addition to this, sodium hydroxide finds massive applications in household bleach items. All these aspects are projected to proliferate the growth of sodium hydroxide market. However, contact with chemical compound has irritated mucous membranes, skin, and eyes severely and this has proved to be a major limitation of product.

Sodium Hydroxide Market: Report Scope

Furthermore, sodium hydroxide is utilized in detergents that further find application in fabric, dry cleaning, and hospitability industries as well as in laundry services. Apart from this, use of sodium hydroxide in liquid detergents helps the latter in offering comfort to end-users. This has enhanced scope of growth of sodium hydroxide market. Rapid spread of COVID-19 has resulted in demand for disinfectant and this has promoted need for chemical compound. Moreover, clinical experiments have demonstrated huge absorption of carbon dioxide by sodium hydroxide from atmosphere. It is also used as caustic agent in pharmaceutical industry and finds huge applications in automotive products, pesticides, landscaping, batteries, and fracturing liquids. All these aforementioned factors are projected to drive industry trends.

Sodium Hydroxide Market: Competitive Landscape

Key players influencing growth of sodium hydroxide market and profiled in study are The DOW Chemical Company, Hanwha Chemical Corporation, BASF SE, Ciech S.A., LG CHEM, LTD., Gujarat Alkalies and Chemicals Limited, Kemira Chemicals, Inc., Saudi Arabia Basic Industries Corporation, Shandong Haihua Group Co., Ltd., Solvay SA, INEOS Newton Aycliffe Ltd., Shin-Etsu Chemical Co. Ltd.,  Bayer AG, Tokuyama Corporation, Formosa Plastics Corp., Aditya Birla Chemicals (India) Limited, Tata Chemicals Ltd., PPG Industries, Axiall LLC, and Occidental Chemical Corporation.

Sodium Hydroxide Market: Regional Landscape

Asia Pacific To Make Substantial Contributions Towards Regional Market Share By 2028

Humungous usage of sodium hydroxide in pigments, paints & coatings, fuel additives, ion exchange agents, reducing agents, lubricant additives, intermediates, and food & beverage sanitation chemicals in chemical firms of Asia Pacific will drive regional market growth. Apart from this, China being highest producer as well as consumer of caustic soda, the market for sodium hydroxide in region is likely to gain traction in upcoming timeframe. Additionally, countries such as China are hub for chemical processing and thriving textile industry in India will further contribute towards regional market size in forecast timespan.

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Rise in demand for plasticizers, catalyst, process regulators, finishing agents, dyes, anti-scaling agents, corrosion inhibitors, and non-pesticides substances in emerging economies of Asia Pacific will culminate into massive growth of sodium hydroxide market in Asia Pacific in next seven years.

Sodium Hydroxide Market: Competitive Space

The global Sodium Hydroxide market profiles key players such as:

• The DOW Chemical Company
• Hanwha Chemical Corporation
• BASF SE
• Ciech S.A
• LG CHEM, LTD
• Gujarat Alkalies and Chemicals Limited
• Kemira Chemicals, Inc
• Saudi Arabia Basic Industries Corporation
• Shandong Haihua Group Co., Ltd
• Solvay SA
• INEOS Newton Aycliffe Ltd
• Shin-Etsu Chemical Co. Ltd
• Bayer AG
• Tokuyama Corporation
• Formosa Plastics Corp
• Aditya Birla Chemicals (India) Limited
• Tata Chemicals Ltd
• PPG Industries
• Axiall LLC
• Occidental Chemical Corporation

The global Sodium Hydroxide Market is segmented as follows:

By Product

• Solid Form
• Liquid Form

By End-Use Industry

• Pulp & Paper
• Textile
• Personal Care
• Pharmaceutical
• Food
• Petroleum
• Aluminum

By Application

• Cleaning Agent
• Additive
• Catalyst

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa