San Francisco,16
October 2018: The global soda
ash market is
expected to reach USD 25.37 billion by 2024, according to a new report by Grand
View Research, Inc. The global soda ash market is marked by the presence of a
few countries such as the U.S. and Turkey which mine soda using natural
resources, while a majority of other regions such as China; manufacture
synthetic soda ash using Solvay process.
The growth of glass industry, particularly
in Asia Pacific and the Middle East on account of increasing construction
spending, is also expected to play a crucial role in the developing the global
soda ash market, over the forecast period. Soda ash is an energy intensive
industry, and fluctuating energy prices are expected to affect the market
growth. Strict environmental regulations in the context of synthetic process
for manufacturing soda ash are expected to hamper the market growth.
Glass emerged as the leading application
segment and accounted for 48.2% of total market volume in 2015. It is also
expected to witness the highest growth of 3.2% over the forecast period. Soaps
& detergents are also expected to witness brisk growth in soda ash demand
over the forecast period. Increasing personal care industry in China, India,
and Indonesia on account of growing disposable income level is expected to
drive this segment.
Access
Research Report of Soda Ash Market@ www.grandviewresearch.com/industry-analysis/soda-ash-market
Further key findings from the report suggest:
· The global soda ash market demand was 55.45
million tons in 2015 and is expected to reach 71.93 million tons by 2024,
growing at a CAGR of 2.9% from 2016 to 2024
· Asia Pacific was the leading regional
market and accounted for 54.2% of global demand in 2015. Increasing
industrialization in emerging economies of China, India, Thailand, and
Indonesia is expected to drive the regional market.
· China, due to established as well as
upcoming manufacturing facilities is likely to head towards overproduction.
However, in terms of exports, Asia Pacific is anticipated to face tough
competition from North America due to cost advantage of the U.S natural soda
ash manufacturers. Europe is expected to witness sluggish growth rate and is
expected to reach over 5,500 kilo tons by 2024.
· The market is expected to witness rise in
new players coupled with increasing demand from Asia Pacific. The soda ash
market is likely to experience production as well as economic shifts,
especially in European countries due to closure of synthetic soda ash
manufacturing facilities in the recent past. Key market players include Tata
Chemicals Limited, DCW Limited, FMC Corporation, Oriental Chemical Industries,
Solvay SA, etc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the
global soda ash market on the basis of application and region:
Global Soda Ash Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014-2024)
·
Glass
·
Chemicals
·
Soaps & detergents
·
Metallurgy
·
Water treatment
·
Pulp & paper
·
Other
Global Soda Ash Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014-2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Middle East & Africa
·
Central & South America
Access Press Release of
Soda Ash Market@ www.grandviewresearch.com/press-release/global-soda-ash-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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