North America to emerge as a lucrative revenue pocket for caustic soda market

11:27 AM, 19th January 2021
Caustic soda is utilized in removing skins from potatoes, tomatoes, and other fruits and also utilized in the processing of edible oils and fats. In terms of application, the food processing segment is likely to exceed a valuation of approximately $1.5 billion in coming years.

In terms of application, the food processing segment is likely to exceed a valuation of approximately $1.5 billion by the end of the analysis timeline. This anticipated growth is attributed to the growing demand for packaged food throughout the globe, particularly across developing countries. The caustic soda market is estimated to surpass a $32.06 billion valuation by 2026, mentioned a Global Market Insights Inc report.

Caustic soda is utilized in removing skins from potatoes, tomatoes, and other fruits and also utilized in the processing of edible oils and fats. Today, the business of food processing is greatly influenced by rapid globalization and trade, high population growth, easy raw material availability, changing lifestyles, changes in taste and preference in food, and changing customer habits. These trends are greatly influencing the demand for processed food, which as stated above, would greatly help foster industry outlook.

On the geographical front, North America holds a substantial share of the overall market and is likely to grow with a respectable CAGR of more than 2.3 percent through the forecast time frame. This anticipated growth is ascribed to the immense product consumption among end-use industries and higher production capacity. Globally speaking, the sodium hydroxide demand is significantly high in Asia, led by countries like China, India and North America, fueled by the US.

With growing product demand across several end-use industries, numerous key players are actively engaged in research studies in order to enhance their market presence. Citing an instance, in September 2020, Mineral Commodities (MRC), a leading West Australia-based producer, reportedly completed a pre-feasibility study for its Norway active anode materials plant. The study for the anode plant examined nearly two alternative eco-friendly methods of purification, namely a carbochlorination process and a caustic roast process, which do not utilize hydrofluoric acid.

The results of PFS concluded that both the processes replace HF but requires a high ratio of caustic soda to graphite for fueling the reaction. These processes are meant to lower the environmental footprint. In addition, conclusion regarding the two processes would be made in Q4 of 2020.

The caustic soda market is slated to be majorly driven be escalating product demand across numerous sectors such as water treatment, textile, pharmaceuticals, food, pulp & paper, soap & detergent, rubber and chemical industry, among others. Moreover, factors such as rapid urbanization, high population growth, and increasing household income are likely to foster market growth over the forecast time period.

In addition, rapid industrialization, especially across a number of emerging Asia-Pacific countries, is expected to greatly stimulate the overall market growth trends. Hanwha Chemical Corporation, Formosa Plastics Corp, Akzo Nobel NV, Grasim (Aditya Birla), Arkema SA, Dow, Aras Petrochemical Company, Covestro AG, SABIC and FMC Corporation among many others are some of the key players operating in the caustic soda market.

Browse key industry insights spread across 250 pages with 172 market data tables & 22 figures & charts from the report, “Caustic Soda market by production technology (diaphragm cell, membrane cell, mercury cell) and application (pulp & paper, alumina, organic chemicals, inorganic chemicals, textile, water treatment, food processing, soaps & detergents), industry analysis report, regional outlook, application growth potential, price trends, competitive market share & forecast, 2020 – 2026” in detail along with the table of contents: https://www.gminsights.com/request-sample/detail/2238  

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Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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