Overview Soda Ash Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022
This can be attributed to the diverse applications of soda ash in industries such as construction, automotive, glass, and soaps and detergents.
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The latest report by IMARC Group titled, “Soda Ash Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global soda ash consumption reached a volume of 54 Million Tons in 2016, exhibiting a CAGR of 4% during 2009-2016. Soda ash, an alkali chemical with the formula Na2CO3, is a white powdered or granular substance. It is refined from the mineral trona or naturally occurring sodium carbonate bearing brines, and is available in different grades such as light, medium and dense. Synthetically, soda ash is produced from salt and limestone or from the ashes of a certain plants grown in sodium rich soils. It has diversified uses in everyday life and serves as an essential raw material in the manufacturing of glass, detergent chemicals and other industrial products.
Highlights of the global soda ash market:
Rapid growth of the construction industry is driving the demand for soda ash globally.
Glass industry represents the largest application segment.
China is the largest market for soda ash, accounting for a majority of the market share.
The thriving construction and automotive industry remain a major driver for the global soda ash market. Soda ash is employed in the manufacturing of glass, especially flat glass, which is extensively used in modern construction activities and automobiles. Apart from this, it also acts as an organic builder during the formation of soaps, detergents and other cleaning compounds, and controls the pH level of water, thus softening it. The rising awareness about health and hygiene across the developing regions is leading to an upsurge in the demand for soaps and detergents, thereby, stimulating the soda ash market growth. Additionally, the growing number of water treatment projects due to stringent regulations by the governments is further boosting the demand for soda ash. Owing to these factors, the market is projected to reach a volume of 64 Million Tons by 2022.
The market has been segmented on the basis of applications, such as glass, chemicals, soaps and detergents, pulp and paper, metallurgy, etc. Among these, the glass industry holds the majority of the market share. Region-wise, China represents the largest market, accounting for nearly a half of the total share. Asia-Pacific (excluding China), Europe, North America, Latin America, and Middle East and Africa are the other major regions. On evaluating the competitive analysis, it is found that Solvay, Tata Chemicals, Shandong Haihua Co. Ltd., Tronox and Nirma are the key players operative in the market.
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The report by IMARC Group has examined the global soda ash market magnet market on the basis of:
Asia Pacific (Excluding China)
Tata Chemicals Limited
Shandong Haihua Co. Ltd.
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