The global caustic soda market is expected to have moderate growth over the forecast period. The significant factor responsible for the growth of the global caustic soda market is the increasing demand from pulp & paper, among other applications. However, environmental concerns related to chlorine and related products and energy-intensive production process are expected to hinder the growth of the market.
Pulp & paper is the most extensive application of Caustic Soda globally. Caustic Soda is also used in the de-inking process for recycled paper. More than one-third of the municipal waste which contains solid caustic soda is made of paper, and this paper's recycling reduces greenhouse emissions and landfills compared to virgin paper manufacturing.
The global usage of recycled paper has doubled over the past 20 years and is expected to grow further in the foreseeable future. Due to the economic advantage over its substitutes/alternatives, pulp & paper manufacturers prefer Caustic Soda over other chemicals.
In the North American region, the Southern part of the United States is the largest pulping region followed by Western United States, Northern United States, Western Canada, and Eastern Canada. Amid the COVID-19 pandemic, the demand for writing and printing paper has declined, however, this is offset by the growing demand for packaging paper and tissue products. In 2019, the global market for tissue & hygiene paper was valued at USD 1.28 billion. The market is expected to grow at a significant rate owing to the increasing demand from the emerging economies, particularly in the Asia-Pacific region. Asia is the top paper & pulp producing region in the world. China is the largest paper-producing country globally, with an annual production of around 130 million tons in 2019. China's pulp & paper industry is flourishing at a rapid pace due to continuous investments by domestic as well as international players in the region. The ongoing research and innovations in the manufacturing process of Caustic Soda are expected to provide opportunities for further growth of the market in the forecast period.
There is a considerable interest in novel technologies to produce Caustic Soda without the co-production of chlorine in which cells will use modern membranes and electrode materials and will be designed to convert non-halogen sodium salts into aqueous Caustic Soda. Such processes are expected to be economically viable and energy-efficient. Introduction of novel Caustic Soda production process from seawater desalination brine. The integrated system includes concentration via evaporation or mechanical vapor compression, nanofiltration, chemical softening, further ion-exchange softening, dechlorination, and membrane electrolysis.
With the ongoing Covid-19 pandemic in the United States, the GDP growth rate for the first quarter of 2020 was -4.8% compared to the growth rate of 2.1% in the fourth quarter of 2019. Amid the Covid-19 pandemic, there is an impact on both the production and consumption of paper in the country, resulting in the low demand for paper and its products.
The US pulp and paper industry is on the cutting edge of science and technology. It is the second-largest producer of pulp & paper in the world. It uses renewable and recyclable resources to meet the needs of paper, paperboard, and various by-products from pulp and paper-making processes. The pulp & paper industry is growing at a fast pace in the country, and Caustic Soda is an essential chemical compound for paper manufacturing and recycling. The industry is developing due to the increasing adoption of new manufacturing technologies and the high consumption of paper and paper products. About 28% of the trees harvested in the US are used to produce wood pulp for making paper and paperboard. In the US, paper consumption has increased from 92 million tons in 2000 to 208 million tons in 2019, showing strong growth of 126%. Growth in e-commerce is one of the primary reasons for the high consumption of paper products in the country. An increase in the usage of paper and cardboard for packaging is responsible for boosting the country's paper and pulp industry. The consumption of hygiene-related products such as disinfectants, hand sanitizers, liquid hand soap, etc. is also anticipated to grow significantly owing to the ongoing changes in the lifestyle due to the Covid-19 pandemic outbreak.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. Regional Market Analysis
7. Key Company Profiles
Al Ghaith Industries LLC
Formosa Plastics Corporation
Grasim Industries Limited
Hanwha Solutions/Chemical Corporation
Shin-Etsu Chemical Co. Ltd.
The Dow Chemical Company
Occidental Petroleum Corporation
For more information about this report visit https://www.researchandmarkets.com/r/rpnek5
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005622/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900