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Caustic Soda Equipment Market to Exhibit 5.50% CAGR and Reach USD 55.8 Billion by 2026; Rising Prevalence of COVID19 Pandemic to Promote Growth, says Allied Market Research

September 16, 2020 GMT

Pune, Maharashtra, India, September 16 2020 (Wiredrelease) Allied Analytics :Rise in demand for caustic soda from application and surge in RD activities for development of new products production processes are the major factors driving the growth of the global caustic soda market. However, hazards associated with caustic soda impedes the growth to certain extent. On the contrary, emerging chemical sector is expected to create lucrative opportunities in the near future.

According to the report, the global caustic soda industry was pegged at $36 billion in 2018 and is projected to reach $55.8 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.

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The membrane cell segment to rule the roost through 2026:
Based on production process, the membrane cell segment held the largest share in 2018, accounting for more than two-fifths of the global caustic soda market. This is due to its increase in use for organic chemicals applications. On the other hand, the diaphragm cell segment is expected to portray the fastest CAGR of 6.2% during the forecast period. This is due to the rise in use of diaphragm cell in pulp paper, and water treatment process.

The organic segment dominated the market:
Based on application, the organic chemicals segment held the lions share in 2018, contributing to nearly one-fifth of the global caustic soda market. This is due to increase in demand for caustic soda in U.S andCanada. However, the pulp and paper segment is expected to manifest the fastest CAGR of 6.9% during the forecast period. Increasing use of Caustic soda in chemical pulping processes such as in sulfate and sulfite is driving the growth of this segment.

Asia-Pacificheld the largest share in 2018, followed byNorth America:
The global Caustic soda market acrossAsia-Pacificdominated in 2018, contributing to more than half of the market. Moreover, the region is expected to register the fastest CAGR of 6.0% during the study period. This is due to rise in number of health-conscious consumers in this region. The strong base of caustic soda production and increasing consumption is expected to offer growth to the market. On the other hand,North Americaheld the second largest market share in terms of revenue in 2018.

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Major Market Players

AkzoNobel
Occidental Petroleum Corporation
BASF
FMC Corporation
Arkema Group
Dow Chemical Company
Solvay SA
BAYER AG
Tata Chemicals Limited
Eastman Chemical Company

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials Chemicals, Construction Manufacturing, Food Beverages, Energy Power, Semiconductor Electronics, Automotive Transportation, ICT Media, Aerospace Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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