Soda Ash Market Scope
Market Research Future (MRFR) assessed the global soda ash market 2021 for the review period till 2025. As per MRFR study, the global soda ash market is expected to register 4% CAGR in the forecast tenure (from 2019 and 2025). By 2025, the soda ash market is expected to value at USD 24 Bn.
Soda Ash Market Key Players
GHCL Limited (India), Sisecam Group (Turkey), Nirma Limited, (India), OCI COMPANY Ltd (South Korea), Searles Valley Minerals (US), Ciner Resources Corporation (US), Solvay (Belgium), Tata Chemicals Ltd (India), Shandong Haihua Group (China), Genesis Energy LP (US), and Ciech SA (Poland) are some reputed companies in the global soda ash market that are listed by MRFR in the report.
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Soda Ash Market Drivers and Restrains
The rise in demand for glass products is creating the need for soda ash for the manufacturing of such products can benefit the market. The widespread utility of glass in automotive, food and beverage, and building & construction industries, along with the surge in demand soda ash can drive the global market in the years to come. The increase in the utility of soda ash for laundry and cleaning application and the increase in demand for formulations that have enhanced cleaning properties to curb the deposit of dirt during rinsing and washing, can promote the market in the near future. The need to soften laundry water and providing alkalinity for cleaning can promote the soda ash market in the near tenure.
Other soda ash applications, such as; household applications of soda ash that include a pH modifier in shampoos and soft abrasive in toothpaste can favor the market upsurge in the analysis tenure. In addition, the growing demand for soda ash as the key raw material in the manufacturing of phosphates, percarbonates, and silicates that are primarily used for cleansing household products can benefit the market upsurge. The significant rise in demand for soda ash in personal care and consumer goods industries, along with rise in disposable income of individual can favor the growth of soda ash market during the analysis period. Furthermore, the surge in demand for soda ash as a desiccant in effervescent formulations and other active pharmaceutical ingredient (API) in the expanding pharmaceutical industry can provide lucrative opportunities to new marketers to benefit the market expansion. On the contrary, price fluctuation of raw material and problem with environmental regulations pertaining to the use of chemicals in the production of synthetic soda ash are causes that can restrain the market upsurge in review period.
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Soda Ash Market Segmentation
The segment study of the global soda ash market is based on type and application.
The type-based segments of the global soda ash market are synthetic and natural.
The application-based segments of the global soda ash market are based on glass, soap and detergents, pulp and paper, chemicals, pharmaceuticals, metal processing, and water treatment among others.
Soda Ash Market Regional Analysis
The regional study of the global soda ash market is done for five key regions; Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. In the Asia Pacific region, the soda ash market is expected to acquire the largest share of the worldwide market and account of the significant rise over the review tenure. The growing utility of soda ash in major end-use industries, such as; glass, personal care and cosmetics, and detergent can favor the regional market. The increase in need for glass for the production of flat glass and mirrors, bottles for medicines and beverages, automotive glass (headlights, windshield, and fiberglass), insulation materials, tableware, glassware, bulbs and other lighting, solar panels, TV screens, laboratory ware, and tubes for televisions and computers can prompt the market rise in the years to come. Industries, such as; food and beverage, and automotive can contribute to the upsurge of the market in the near future. China is observed as one of the largest consumers of soda ash APAC, thus increase in demand of soda ash to benefit the regional market.
In North America, the market of soda ash is expected to garner decent revenue by 2025. The regional market is expected to hold the second-largest share of the worldwide market owing to increase in demand for soaps and detergents. The progressive building construction industry can in the US can drive North America market. The upsurge in the need for soda ash in the expanding pharmaceutical sector can fuel regional market rise.
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