Global Sodium carbonate Market size worth USD 13.5 billion by 2027
Published Date: June 15, 2021 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights Inc., the Sodium Carbonate Market size is set to surpass USD 13.5 billion by 2027.
Sodium carbonate, also called soda ash and washing soda is among the most widely used inorganic compounds across the globe. Significant recovery of the construction sector after the lifting of the stringent lockdowns in the aftermath of the coronavirus outbreak in 2020 should drive the demand for flat glass and stimulate product requirements.
Substantial population growth, industrialization and rising disposable incomes have resulted in surging demand for consumer products, automobiles and infrastructure which should drive the mining industry. Sodium carbonate finds widespread adoption in the mining & smelting of metals, particularly that of alumina products.
The cost-effective and environment-friendly production process of natural sodium carbonate should stimulate product demand
Natural sodium carbonate market witnessed a consumption of over 13.35 million tons in 2020 and register over 3% gains by 2027 pertaining to the products high sustainability. The product offers various benefits over synthetic types, such as the absence of chemical residues such as calcium chloride, limestone components and calcium carbonate which would otherwise cause water pollution & ecological damage. Natural soda ash production is sustainable, cost-effective and imparts competitive advantage to manufacturers.
. In recent years, manufacturers have been able to enlarge their market share owing to rising demand, while several companies offering synthetic product witnessed idling or closure globally.
Browse key industry insights spread across 200 pages with 169 market data tables and 45 figures & charts from the report, “Sodium Carbonate Market By Type (Natural, Synthetic), By End-Use (Flat Glass, Container Glass, Other Glass, Soaps & Detergent, Chemicals, Mining), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing penetration of washing machines in emerging economies to stimulate sodium carbonate market growth from soap & detergent end-use
Sodium carbonate market with respect to soaps & detergent end-use is projected to exceed USD 2.5 billion by the end of 2027 on account of increasing hygiene awareness, growing disposable income and penetration of washing machines in emerging economies such as China, India and Brazil. Soda ash offers various benefits for detergents such as pH adjustment, effective removal of grease and alcohol stains.
Increasing efforts by soap & detergent companies to boost innovation and establish manufacturing plants in emerging countries should drive the sodium carbonate market growth. Efforts by manufacturers to reorganize their business models to recover from stringent containment measures resulting from the COVID-19 pandemic as well as growing consumer awareness regarding the importance of hygiene to prevent infection.
“As per market forecasts, soaps & detergent end-use industry is likely to register a CAGR of 4.5% by 2027 owing to growing awareness regarding hygiene”
Substantial expansion of electric vehicles sector in Europe should drive regional market growth
Europe is projected to surpass USD 2 billion by the end of the forecast timeframe. Favorable regulatory environment in the region has resulted in the expansion of the electric vehicle (EV) industry thereby driving the requirement for flat glass. Soda ash enhances the shaping of glass and reduces melting temperatures which makes it ideal for glassmaking. European consumers are witnessing increasing access to electric vehicles of their favorite brands and government subsidies to boost EV adoption should accelerate the sodium carbonate market value.
Increasing implementation of CO2 standards to reduce greenhouse emissions from the transport sector, which have increased in recent years should accelerate the growth of sodium carbonate market. Automakers are introducing a range of new, compliant models of electric vehicles to comply with regulations and prevent fines. Emission regulations are likely to get more stringent in the upcoming years which requires automakers to electrify their fleet at a faster rate and engage in innovations.
Leading sodium carbonate industry manufacturers are majorly focusing on strategic agreements such as acquisitions, mergers and partnerships to increase their market share and distribution network. Companies are also engaged in capacity expansion to satisfy rising demand for soda ash and attain competitive advantage. The major producers of sodium carbonate include Tata Chemicals, Solvay SA, Nirma, Genesis Alkali, Hubei Yuhua, Sanyou Chemicals, CIECH, Shandong Haihua Group and Sisecam.