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| Global Soda Ash Market Demand |
Soda ash, also known as sodium carbonate, is a white crystalline solid used
extensively as an essential raw material in glass, chemicals, detergents and
other industries. It helps in neutralizing acids and has deodorizing
properties. Growing use of soda ash in glass, chemicals, detergents and other
applications has propelled the demand for soda ash over the years. Rising
construction activities along with growing population have boosted the
consumption of glass which in turn has provided impetus to soda ash adoption.
Moreover, rapid industrialization along with increasing manufacturing
activities across developing nations have further augmented the sales of soda
ash.
The global
Soda Ash Market is estimated to be valued at US$ 12406.28 Mn 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 key trends:
The growing industrialization in developing economies has remained a prominent
driving factor for soda ash market over the past few years. Rapid
industrialization has augmented the demand for soda ash from different
industries such as glass, detergents, chemical etc. For instance, according to
the World Bank, the annual GDP growth for emerging market and developing
economies has been over 5% during 2010-2019 time period. particularly countries
like India, China, Brazil, South Africa etc. have witnessed significant
industrial and economic growth over the past decade which has further propelled
the adoption of soda ash. Additionally, increasing focus towards sustainability
and reducing dependency on natural resources has prompted players towards
developing recyclable products and adopting recovery process is also expected
to boost the adoption of synthetic soda ash over naturally produced soda ash
during the forecast period.
Segment Analysis
The global soda ash market is dominated by the glass segment. Glass accounts
for over 70% of the total soda ash demand globally. Soda ash is one of the
primary components in the manufacturing of flat glass used in windows, vehicle
windscreens, and insulated glass units. It is also used in manufacturing
container glass used in bottles and jars. The rising construction activities
and growth in the automobile industry is driving the consumption of soda ash in
the glass segment.
Key Takeaways
The Global
Soda Ash Market Demand is
expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that Asia Pacific currently dominates the global soda
ash market with a share of over 50% of the total demand. China is the leading
producer and consumer of soda ash globally. Other major markets in Asia Pacific
include India, Japan, and Southeast Asian countries. The growth in the region
can be attributed to the rapid urbanization, rising infrastructure development
and growth in industrial activities.
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. CIECH SA is one of the largest producers of soda ash in Europe.
The company produces natural and synthetic soda ash at its production
facilities in Poland, Romania and Turkey. Ciner Resources Corporation is one of
the largest suppliers of soda ash in the US, producing synthetic soda ash at
its facility in Wyoming, US.
Regional analysis
North America is also a major market for soda ash accounting for over 20% of
the global demand. The US is the second largest producer as well as consumer of
soda ash globally. The market in the region is mature but is expected to
witness stable growth over the forecast period owing to the stable growth in
end-use industries such as glass, chemicals, soaps & detergents and water
treatment. Europe is another key regional market led by countries such as
Germany, France and UK. However, the growth in demand is expected to be slower
as compared to Asian and North American markets.
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