SAN FRANCISCO, August 17, 2016 /PRNewswire/ --
The global soda ash market is expected to reach
USD 25.37 billion by 2024, according
to a new report by Grand View Research, Inc. The global soda ash
market is marked by the presence of a few countries such as the
U.S. and Turkey which mine soda
using natural resources, while a majority of other regions such as
China; manufacture synthetic soda
ash using Solvay process.
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The growth of glass industry, particularly in Asia Pacific and the Middle East on account of increasing
construction spending, is also expected to play a crucial role in
the developing the global soda ash market, over the forecast
period. Soda ash is an energy intensive industry, and fluctuating
energy prices are expected to affect the market growth. Strict
environmental regulations in the context of synthetic process for
manufacturing soda ash are expected to hamper the market
growth.
Glass emerged as the leading application segment and accounted
for 48.2% of total market volume in 2015. It is also expected to
witness the highest growth of 3.2% over the forecast period. Soaps
& detergents are also expected to witness brisk growth in soda
ash demand over the forecast period. Increasing personal care
industry in China, India, and Indonesia on account of growing disposable
income level is expected to drive this segment.
Browse full research report with TOC on "Soda
Ash Market Analysis by Application (Glass, Chemicals, Soaps &
Detergents, Metallurgy, Water Treatment, Pulp & Paper) And
Segment Forecast To 2024" at:
http://www.grandviewresearch.com/industry-analysis/soda-ash-market
Further key findings from the report suggest:
- The global soda ash market demand was 55.45 million tons in
2015 and is expected to reach 71.93 million tons by 2024, growing
at a CAGR of 2.9% from 2016 to 2024
- Asia Pacific was the leading
regional market and accounted for 54.2% of global demand in 2015.
Increasing industrialization in emerging economies of China, India,
Thailand, and Indonesia is expected to drive the regional
market.
- China, due to established as
well as upcoming manufacturing facilities is likely to head towards
overproduction. However, in terms of exports, Asia Pacific is anticipated to face tough
competition from North America due
to cost advantage of the U.S natural soda ash manufacturers.
Europe is expected to witness
sluggish growth rate and is expected to reach over 5,500 kilo tons
by 2024.
- The market is expected to witness rise in new players coupled
with increasing demand from Asia
Pacific. The soda ash market is likely to experience
production as well as economic shifts, especially in European
countries due to closure of synthetic soda ash manufacturing
facilities in the recent past. Key market players include Tata
Chemicals Limited, DCW Limited, FMC Corporation, Oriental Chemical
Industries, Solvay SA, etc.
Grand View Research has segmented the global soda ash market
on the basis of application and region:
- Global Soda Ash Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014-2024)
- Glass
- Chemicals
- Soaps & detergents
- Metallurgy
- Water treatment
- Pulp & paper
- Other
- Global Soda Ash Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014-2024)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Middle East & Africa
- Central & South
America
Browse related reports by Grand View Research:
- Ammonium Nitrate Market -
http://www.grandviewresearch.com/industry-analysis/ammonium-nitrate-market
- Amaranth Seed Oil Market -
http://www.grandviewresearch.com/industry-analysis/amaranth-seed-oil-market
- Locust Bean Gum Market -
http://www.grandviewresearch.com/industry-analysis/locust-bean-gum-market
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http://www.grandviewresearch.com/industry-analysis/beeswax-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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Grand View Research, Inc
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