Sodium
hydroxide (NaOH) is a white solid, highly caustic metallic alkali and
base of sodium. It is an inorganic compound also known as caustic
soda or lye. It is available in granules, solution, flakes, and
pellets. The compound is majorly used in drain cleaner, detergents,
soaps, drinking water, textiles, pulp and paper, etc. The global
sodium hydroxide market is expected to grow at a significant growth
rate, attributed to increasing application of the compound for
industrial application. The market in Asia Pacific is expected to
register a relatively high growth rate over the forecast period,
owing to the high growth of paper as well as textile industry across
the region.
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The
major factors driving growth of the global sodium hydroxide market
include growing industries such as food, pharmaceuticals, textiles,
construction and paper and pulp across the globe. However, major
substitute for sodium hydroxide is potassium hydroxide, which is
expected to restrain the market over the forecast period.
Additionally, high cost of production of sodium hydroxide is also
expected to create negative impact on the market. Companies
manufacturing sodium hydroxide products can leverage potential
opportunities in regions such as North America, Europe and Asia
Pacific, attributed to rapidly growing food and textiles industries,
and the trend is expected to continue over the forecast period.
On
the basis of geography, the global sodium hydroxide market is
segmented into seven regions namely, North America, Western Europe,
Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the
Middle East & Africa and Japan. Among the regions, APEJ dominates
the global sodium hydroxide market in terms of revenue contribution
owing to significant high demand from the pulp and paper industry in
the region. APEJ is followed by North America, attributed to high
demand for sodium hydroxide for research institutes in the region.
Eastern Europe and Japan account for a relatively low value share in
the global sodium hydroxide market. Latin America and Middle East &
Africa are expected to represent moderate opportunity in the global
sodium hydroxide market, owing to the moderately growing economy and
industrial sector in the region. Overall, the outlook for the global
sodium hydroxide market is positive over the forecast period.
Some
of the players in the global
sodium hydroxide market include The DOW Chemical Company,
BASF SE, Ciech S.A., Gujarat Alkalies and Chemicals Limited, Kemira
Chemicals, Inc., Shandong Haihua Group Co., Ltd., INEOS Newton
Aycliffe Ltd., Solvay Chemicals, Tokuyama Corporation, Formosa
Plastics Corp., Aditya Birla Chemicals (India) Limited, Saudi Arabia
Basic Industries Corporation, Shin-Etsu Chemical Co. Ltd., Tata
Chemicals Ltd., LG CHEM, LTD., PPG Industries, Bayer AG, Axiall LLC,
Solvay SA, Hanwha Chemical Corporation, Shin-Etsu Chemical Co., and
Occidental Chemical Corporation.
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