Soda Ash Market to Witness Huge Growth during 2019-2024

WILLIAMSVILLE, N.Y. - June 11, 2019 - PRLog -- According to IMARC Group's recently published study, titled "Soda Ash Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", finds that the global soda ash market (https://www.imarcgroup.com/soda-ash-technical-material-market-report) reached a value of nearly US$ 12 Billion in 2017. Soda ash, also known as sodium carbonate (Na2CO3), is an odorless, white crystalline solid that belongs to the chlor-alkali family. It is found in large natural deposits and can also be extracted from the ashes of plants growing in sodium-rich soils. Commercial soda ash is highly puri?ed and is sold in various grades that differ primarily in bulk density, and particle shape and size. In recent years, growing awareness among the consumers about health and hygiene has resulted in an increased demand for soaps and detergents, particularly in the developing regions. Apart from this, soda ash is also used in the manufacturing of paper, glass, ceramics, sodium salts, petroleum products, etc.

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Global Soda Ash Market Trends:

Soda ash is used as an additive in numerous home detergents and cleaning products since it is very effective in removing alcohol and grease stains from clothing. In addition, it is used as a substitute for sodium hydroxide in cooking for lyeing, especially with lye rolls and German pretzels. Further, the escalating demand for soda ash in water treatment and environmental applications for improving the alkalinity of lakes and controlling the pH of water has spurred the overall growth of the market. Another growth-inducing factor is a considerable increase in the production of glass due to rising demand from the construction and renovation, and automotive industries. However, the availability of soda ash substitutes, namely sodium silicate, caustic soda, etc. are limiting the overall growth of global soda ash market. Moreover, the stringent environmental regulations regarding the production of soda ash is also adversely affecting the market growth. Looking forward, the market value is projected to exceed US$ 15 Billion, expanding at a CAGR of more than 6% during 2018-2023.

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Global Soda Ash Market Summary:

• On the basis of application, the market has been segmented into glass, chemicals, soaps and detergents, metallurgy, and pulp and paper. Currently, the glass industry represents largest consumer of soda ash, accounting for majority of the market share.
• Region-wise, China dominates the global soda ash market, holding nearly a half of the total global share. Other major regions include Asia-Pacific (excluding China), Europe, North America, Latin America, and Middle East and Africa.
• The competitive landscape of the market has also been examined with some of the key players being Solvay, Tata Chemicals Limited, Shandong Haihua Co. Ltd., Tronox Ltd. and Nirma.

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