Sodium Carbonate Market demand to grow at a CAGR of 2.45% during the forecast period 2019 to 2025
According to the business intelligence report by IndustryARC, the global Sodium Carbonate Market generated $18.2 billion revenue in 2018. Sodium carbonate, also known as washing soda, soda ash, and soda crystals, is primarily used in the chemical industry for production of glass, soaps, detergents, carbonate chemicals, and sodium chemicals. The augmenting demand of sodium carbonate and its hydrates such as sodium carbonate decahydrate, sodium carbonate heptahydrate, and sodium carbonate monohydrate by the chemical industry is the major factor boosting the global sodium carbonate market size growth. Moreover, wide applications of sodium carbonate in wastewater treatment process, paper and pulp industry, desulphurization of flue gas, coal treatment, and brine treatment is also boosting the production and consumption of sodium carbonate globally. Hence, the global sodium carbonate market is anticipated to propel at a CAGR of 2.45%, during the forecast period 2019-2025.
The report is titled as “Sodium Carbonate Market: By End-Use Industry (Glass, Detergents, Sodium Chemicals, Pulp and Paper, and Carbonate Chemicals); and By Geography Forecast (2019 – 2025).” The report aids the reader to understand present status of the sodium carbonate market, by providing facts, figures and statistics pertaining to the market and commercial aspects such as end-user verticals, application insights, regional revenue pockets, imperative competitive landscape, drivers, trends, and future opportunities.The report covers sodium carbonate market size by End-Use Industry, sodium carbonate market share by top 5 companies and also the market share by start-ups during the forecast period.
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Sodium Carbonate Market: Leading Segments
Geographically, APAC held the dominant share in the global sodium carbonate market with 54% share in 2018. High demand of sodium carbonate from waste water treatment, paper and pulp, and chemical industries is the major factor that fueled the growth of the sodium carbonate market in this region. Additionally, increasing disposable income in major industrial economies including China and India is paving way for rise in demand for end-user products of sodium carbonate such as detergents, soaps, and glass. This increase in demand for end-use products rendered APAC with major market share.
On the basis of application, the sodium carbonate market is segmented into glass, detergents, sodium chemicals, pulp and paper, and carbonate chemicals. Sodium carbonate is majorly used in the manufacturing process of glass. The increasing applications of glass in various industries such as construction, packaging, and automobile is subsequently leading to unprecedented growth in demand for sodium carbonate. Thus, the key application segment is anticipated to grow at a CAGR of 2.8% through to 2025.
Sodium Carbonate Market Disruptive Trends
· Active Pharmaceutical Ingredient (API)
Sodium carbonate is used in pharmaceutical industries as an API to manufacture numerous drugs. Various pharmaceutical companies are increasingly adopting sodium carbonate as APIs to enhance their drug abilities. For instance, Boots Company uses sodium carbonate as an API in its effervescent powder that is applied to treat stomach issues and headaches. Thus, the utilization of sodium carbonate as an API is disrupting the sodium carbonate market growth.
Sodium Carbonate Market: Competitive Landscape
There are various companies that are expanding geographically to gain grounds over their competitors. Some of the companies that are holding majority shares and striving to lead the global sodium carbonate market are CIECH S.A., OCI Chemical Corporation, Solvay S.A., Tata Chemicals Ltd., NIRMA, GHCL Limited, Genesis Energy Ltd., Orison Chemicals Ltd., WE Soda Ltd., Haohua Honghe Chemical Co., Ltd., FMC Corporation, and Innova Corporate.
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