The global sodium hydroxide market is projected to grow from USD 49.3 Billion in 2022 to USD 61.1 Billion by 2027, at a CAGR of 4.4% during the forecast period. Increase in the demand from the alumina application industry increased the demand for sodium hydroxide in 2021, which was driven by the surge in construction activity in emerging markets
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Sodium hydroxide, also known as caustic soda, is a white inorganic substance with a crystalline structure. It exhibits strongly hygroscopic properties, and in combination with carbon dioxide in the air, it easily forms sodium carbonate. To avoid moisture from the surroundings, caustic soda must be stored in tightly sealed vessels or special bags. Sodium hydroxide is characterized by extremely high solubility in water, with which it reacts by producing large amounts of heat, thus forming highly caustic soda lye. Sodium hydroxide is highly corrosive. It is generally used as a solid or diluted in a 50% solution.
The major industry players are adopted expansions, joint venture and new product development as growth strategies in the last four years. The leading players in the market are Tata Chemicals Limited (India), Olin Corporation (US), Westlake Corporation (US), Occidental Petroleum Corporation (US), Dow (US), Solvay S.A (Belgium), BASF SE (Germany), Xinjiang Zhongtai Chemical Co. Ltd (China), Akzo Nobel N.V (Netherlands), Brenntag North America, Inc (US), and others.
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Tata Chemicals Limited is a sustainable chemistry solutions company. It operates through two verticals – Basic Chemistry (Alkali chemicals-soda ash, sodium bicarb, salt, silica & other halogen chemicals – caustic soda) and Specialty Products (specialty silica, prebiotics & formulations, agrochemicals, and seeds). The company’s product portfolio provides key ingredients to many of the world’s leading brands for glass, detergents, pharma, food, animal feed, and other industries. It is a global producer of soda ash and sodium bicarbonate (3rd and 6th market positions, respectively). Tata Chemicals has 13 manufacturing facilities across four countries (India, US, UK and Kenya) and marketing presence in 30 countries
Olin Corporation (Olin) is a Virginia corporation incorporated in 1892, having its executive offices in Clayton, Missouri. It operates under four business segments: caustic soda, chlorine and other products, epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine, caustic soda, ethylene dichloride, vinylchloride monomer, methylchloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide. This business represented 46% of the company’s sales in 2021. For more than 100 years, it has been a global leader in producing both membrane-grade and commercial-grade caustic soda. More than 70% of the company’s output is high-purity caustic soda.
Westlake Corporation is a manufacturer and supplier of petrochemicals, polymers, and building products. The company’s major products include ethylene, polyethylene, styrene, caustic soda, and chlorine. Westlake also provides a wide portfolio of low-density polyethylene and linear low-density polyethylene for use in high-clarity packaging, shrink films, cartons, lids, closures, and general-purpose molding. Its products are widely used in construction materials, automotive sealants, cable sheathing, pulp & paper, organic & inorganic chemicals, coatings, flavorants, films, refrigerants, water treatment applications, chemicals and pharmaceutical production, and medical applications. It has business presence in the Americas, Europe, and Asia. The company is headquartered in Houston, Texas, US.
