Caustic Soda Market, Forecast 2024-2032
The global caustic soda market size was valued at USD 65.3 Billion in 2021 and is projected to reach USD 91.5 Billion by 2027, exhibiting a CAGR of 5.1% during the forecast period.Caustic soda, or sodium hydroxide in chemical terms (NaOH), possesses corrosion properties and is also a very reactive compound. The highlight of its performance is that it has a high capacity to dissolve various substances, such as grease, oil, fats, proteins, and organic matter. This property is very important for the adoption of renewable energy across different industries, such as manufacturing, cleaning, and water treatment, among others. Its principal benefit lies in the fact that it can eliminate acids, and this is invaluable in the processes of pH correction and wastewater treatment. Moreover, caustic soda takes centre stage in manifold areas of our commonplace lives by being used for the manufacture of soaps, detergents, paper, fabrics, and even food processing. Regardless of its high capacity, the hazardous feature of caustic soda demands cautious treatment because of its distinctive corrosion property. Proper safety precautions should be applied smoothly, not only during storage but also during transportation and usage, to restrict the occurrence of hazards.
The rising demand for caustic soda in the production of paper and pulp, textiles, and soaps and detergents is driving the market growth.
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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