Scienza e Tecnologia
Sodium Hydroxide Sales to Increase through 2031, over 23% Demand to Originate in Textile Industry: Future Market Insights
The sodium hydroxide market is anticipated to grow at a steady rate owing to the rising demand from pulp and paper industries. Also, growing demand for alumina in the transport sector will present a positive demand outlook.
Among various applications, the textile sector will dominate the market, accounting for 23% of the global market share in 2021. Future Market Insights (FMI) also has predicted that textile segment, alumina, and inorganic segments will cumulatively total US$ in 2021.
In the coming years, the market will witness increasing investments in research and development activities and expansion of production capacities. Besides this, favorable policies implemented by governments will bode well for the growth of the sodium hydroxide market.
Demand will continue increasing in Asia Pacific . This can be attributed to the growing application in water treatment facilities and automotive sector. On the other hand, rising scope for organic applications in chemical formulations will further bolster growth prospects.
FMI has predicted that among various product types, caustic lye will remain a top priority among end users over the forecast period due to ease of accessibility and affordable price. Consequently, it is expected to account for over 68% of the global market share in 2021.
As per the study, India will emerge as a highly attractive market, accounting for over 37% of sales in South Asia by the end of 2031. Meanwhile, factors such as rising investments in research and development activities and labor and material cost benefits will create lucrative opportunities of growth for the expansion of chemical industries in the India market. This is turn will enhance sales prospects for sodium hydroxide.
" said a Future Market Analyst.
Sodium hydroxide manufacturers are adopting strategies such as new product launches to strengthen their product portfolio. Also, they are entering into strategic acquisitions and collaborations to solidify their footprint in the market.
For instance, in 2021, Olin Corporation announced its new agreement with ASHTA Chemicals, Inc to purchase and sell the chlorine manufactured at ASHTA's Ashtabula, OH facility. This association provides an opportunity to enhance administration across the portfolio of ASHTA and Olin Corporation, thereby catering to the combined needs of consumers of both the organizations.
In 2021, Vynova Group announced its new ISCC PLUS-approved renewable caustic soda, which is produced using renewable energy sources. Vynova's newly manufactured renewable caustic soda registers reduced carbon footprint further helping consumers across a vast range of industries to accomplish their sustainability goals.
Some of the leading players operating in the sodium hydroxide market profiled by Future Market Insights are:
FMI, in its new report, offers an unbiased analysis of the global sodium hydroxide market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in sodium hydroxide market with detailed segmentation:
https://www.futuremarketinsights.com/customization-available/rep-gb-13328
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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