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| Soda Ash Market Size |
The global Soda Ash Market is estimated to be valued at US$ 11000.00 million in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023
to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Soda ash, also known as sodium carbonate, is an inorganic compound used in
various industrial processes. It is an essential raw material for the
production of flat glass, container glass, and many other types of glass. Soda
ash provides strength and durability to glass products. It plays an important
role in lowering the melting point of silica used in glass manufacturing. Soda
ash also finds applications in soaps & detergents, paper, chemical and
metallurgical industries owing to its strong alkaline properties. The easy
availability, cost-effectiveness and versatility have augmented the adoption of
soda ash across various end-use industries over the years.
Market key trends:
One of the key trends observed in the global soda ash market is rising demand
from the expanding glass industry. Glass is extensively used in automotive,
construction and packaging sectors. Emergence of energy-efficient and
lightweight flat glass solutions is propelling the automotive glass market.
Growing construction activities along with rising consumer preference for glass
furniture is boosting the container glass demand. Expanding e-commerce sector
is augmenting the packaging glass consumption. Rapid glass production to cater
to proliferating end-use industries is anticipated to drive the soda ash
consumption over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirements and established suppliers in
the soda ash industry have lowered the threat of new entrants. However, major
players have economies of scale and hold large market shares.
Bargaining power of buyers: Buyers have moderate to high bargaining power due
to the availability of substitutes. However, long standing relationships
between buyers and suppliers mitigate this power to some extent.
Bargaining power of suppliers: Few suppliers control a major share of the
market which gives them higher bargaining power over buyers. This power is also
bolstered due to long term supply contracts.
Threat of new substitutes: Threat of substitutes is moderate as soda ash has
few direct substitutes for its commercial uses. However, substitutes exist for
few niche applications of soda ash.
Competitive rivalry: The soda ash industry experiences intense competitive
rivalry among major manufacturers. Competition is based on pricing, product
differentiation, supply management and regional expansion.
Key Takeaways
The global Soda
Ash Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period,
due to increasing demand from glass, chemicals and detergents industries. The
market was valued at USD 11000 million in 2021.
Regional analysis indicates that Asia Pacific dominates the global soda ash
market and is expected to continue its dominance, growing at over 7% CAGR till
2030. This can be attributed to large production capacities and demand centers
located in China and India. North America and Europe are other major markets
for soda ash.
Key players operating in the soda ash market are CIECH SA, Ciner Resources
Corporation, Genesis Energy LP, GHCL Limited, Lianyungang Soda Ash Co. Ltd,
NIRMA LIMITED, Şişecam Group, Solvay, Shandong Haihua, Group Co. Ltd, and Tata
Chemicals Ltd. These players have established global production facilities and
supply networks to cater to increasing demand. Players are investing in
expansions as well as engaging in mergers and acquisitions for long term growth
and market consolidation.
Read More: https://www.trendingwebwire.com/soda-ash-market-analysis-and-scope/