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Sodium Carbonate Market projected to surpass $13.5 billion by 2027

Post Time:Jun 18,2021Classify:Industry NewsView:958

Based on Global Market Insights Inc., report, the global Sodium Carbonate Market was estimated at $11.45 billion in 2020 and is slated to exceed $13.5 billion by 2027, registering a CAGR of 3% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.

The global synthetic sodium carbonate market should witness over 2.5% gains by the end of the predicted timeframe. The product can be produced by a range of manufacturing methods such as Hou’s Process, Solvay Process, and Leblanc Process using easily available raw materials such as limestone, coke, and brine. On the other hand, natural soda ash should register over 4% gains in the forecast period owing to its cost-effectiveness and growing demand for natural, sustainable ingredients.

The chemical end-use industry should surpass USD 1.2 billion by 2027 owing to its vital role in the production of sodium-based reagents. On the other hand, Sodium carbonate demand with regards to mining end-use should grow at a CAGR of over 2.5% on account of the expansion of end-use sectors such as consumer products, automotive, and construction which require mined products.

The container glass end-use industry surpassed USD 2.15 billion in 2020. The growing consumption of alcoholic beverages has significantly increased the demand for glass bottles. Moreover, with growing environmental consciousness, consumers prefer glass containers over plastic alternatives owing to their sustainable nature and absence of environmental degradation. Significant expansion of the food & beverage sector owing to population growth, increasing disposable income, and preference for convenience food products should stimulate the sodium carbonate market growth.

North America should surpass USD 760 million by 2027 pertaining to construction sector growth on account of low-interest rates & easy access to credit. The substantial number of ongoing projects in the institutional, residential and infrastructural sectors should drive the sodium carbonate market share. Moreover, Latin America is likely to surpass USD 640 million by 2027 owing to the booming chemical and automotive sectors.

Some of the major manufacturers in the sodium carbonate industry are Solvay, Ciner, Tata Chemicals Ltd., Genesis Alkali, NIRMA, Shandong Haihua, CIECH S.A., Sanyou Chemical, Hubei Yuhua, and Sisecam. Manufacturers are primarily focusing on establishing production facilities in the vicinity of natural ore deposits to secure their supply of raw materials and achieve a competitive advantage.

Source: https://www.globenewswire.com/Author: shangyi

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