Technological advancements in production processes, boom in the food & beverage and chemical industries, and increased capacities of manufacturing plants are among the primary Soda Ash market growth drivers.
New York, Jan. 21, 2021 (GLOBE NEWSWIRE) — The global soda ash market is projected to attain a significant market value of USD 37.51 Billion by 2027, with a CAGR of 5.9%. Soda ash is a flammable, non-toxic inorganic compound, usually available in the form of an odorless white powder. Also known as sodium carbonate, the compound is traditionally derived from the ashes of plants growing in soils that are rich in sodium. Based on its density, it is available in two main types – dense soda ash and light soda ash.
One of the most fundamental applications of soda ash is glass manufacturing. The compound is extensively used to manufacture fiberglass containers or flat glass, which is mostly used in the residential and commercial construction sectors. Besides aiding in purifying air and softening water, soda ash is utilized as an intermediate in the manufacturing processes sweetened soft drinks, food products, and toiletries. Hence, it is used in household detergents and various paper-based products.
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The global soda ash market has gained significant momentum over the last few years, owing to various market growth-inducing factors. Escalating demand across the glass manufacturing industry for making flat glass and glass containers, increasing use in soaps and detergents, rising adoption across the water and wastewater treatment industry, and growing demand in the buildings & construction sector are the pivotal factors boosting the global market growth. However, the surging availability of alternatives, such as sodium silicate and caustic soda, and their gradually rising adoption among manufacturers are some factors that might impede the market growth in the near future.
Key findings of the report:
- Based on density, the light soda ash segment is projected to record the highest revenue growth rate of 7.0% over the forecast period to gain around 32.0% of the global market share. Increasing usage of light soda ash in soaps and detergents, and its growing demand across other end-use industries due to viable properties, such as enhanced cleansing and pH balance regulation, have majorly propelled the growth of this segment.
- The glass & ceramics end-use segment, which accounted for the largest 46.0% market share in 2018, is projected to emerge as the leading segment over the forecast period at a CAGR of 6.0%. The extensive usage of soda ash in glass manufacturing is a vital factor contributing to the growth of this segment.
- Among the key market regions, North America is the leading regional market for soda ash in terms of revenue share. Exponentially rising demand across the chemical, glass & ceramics, food & beverage, and soaps & detergents industries is the key propeller for market growth in this region. Furthermore, Europe is poised to emerge as the second-largest soda ash market over the foreseeable era, displaying a significant 6.2% revenue growth rate. The crucial factors spurring the growth of the market in this region include the booming automotive industry, burgeoning demand for home care and personal care products, and rising disposable incomes of the population.
- The key industry participants include Tata Chemicals Limited, Solvay SA, GHCL Limited, Nirma Limited, Ciech SA, FMC Corporation, OCI Chemical Corporation, Oriental Chemical Industries, Soda Sanayii, and DCW Limited.
- Tata Chemicals Limited, the globally recognized chemicals company headquartered in India, saw a massive impact of the COVID-19-induced nationwide lockdown. However, in July 2020, the company announced that it was finally on a ‘recovery’ track, and it also resumed its production of soda ash and sodium bicarbonate after a temporary closure due to the pandemic.
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For the purpose of this report, the global soda ash market has been segmented on the basis of density, production process, end-use, and region:
By Density (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
By Production Process (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Solvay process
- Hou’s process
- Barilla and kelp
By End-Use (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Glass & Ceramics
- Soaps & Detergents
- Paper & pulp
- Water treatment
- Food additives and cooking
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By Region (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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