Soda Ash Market Size to Hit USD 24.01 billion, Globally, by 2030 Recording at 4% CAGR
Research Reports
Aug 17, 2023
Soda Ash Market Overview
Soda Ash Market Size was valued at USD 17.55 billion in 2021. The Soda Ash industry is projected to grow from USD 18.25 Billion in 2022 to USD 24.01 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.00%. The increasing demand for manufacturing of glasses is likely a key factor that is driving the growth of the global soda ash market.
Soda ash is also called as sodium bicarbonate that is a white, anhydrous, powdered or granular material that is hygroscopic and forms an odorless alkali chemical solution mixed in water. It occurs in various kinds of mineral waters and are also present in the mineral deposits made of certain springs and lake brines. The basic source of soda ash is trona that is a mixture of sodium carbonate, sodium bicarbonate and water. Synthetic soda ash is produced using different processes and it contains numerous chemical additions.
Soda ash on the is used for manufacturing flat glass, container glass, fiberglass, and other types of glasses. It finds applications in detergent manufacture for the manufacturing of dyes and colouring agents, synthetic detergents, water treatment, desulphurization of flue gas and for other industrial and household applications. It is used in a variety of laundry and cleaning compound formulations for enhancing the cleaning properties.
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Market segmentation
The global soda ash market report presents the global segmentation on the basis of type and applications. The significant growth of the personal care and consumer goods industries all over the growth on account of the increasing disposable income of the various customers that will favour the growth of the global soda ash market growth at the assessment period as mentioned.
On the basis of the type, the global soda ash market can be split into:
- Synthetic
- Natural
And on the basis of the applications, the global soda ash market can be divided into:
- Soap and detergents
- Glass
- Pulp and paper
- Chemicals
- Metal processing
- Pharmaceuticals
- Water treatment
- Others
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Regional analysis
The global soda ash market report shows significant growth in the increasing disposable income of the customers that will favour the growth of the global market. Moreover, the increasing use of soda ash as an active pharmaceutical ingredient and in other formulations in the pharmaceutical industry will be providing lucrative opportunities for the global market players in the coming years. The global soda ash market can also be segmented in various major regions such as Europe, Latin America, Asia-Pacific, North America, Middle East and Africa. The report presents for the overall scenario of the market with an in-depth analysis and expansive study of the global soda ash market.
Key Players
Tata Chemicals Ltd (India), Shandong Haihua Bunch (China), GHCL Constrained (India), Sisecam Bunch (Turkey), Searles Valley Minerals (US), Ciner Assets Organization (US), Beginning Vitality LP (US), Ciech SA (Poland), Nirma Constrained (India), and OCI COMPANY Ltd (South Korea)
Industry news
China’s soda ash production fell in May 2023. According to the China National Chemical Information Center, soda ash production in China fell by 1.7% in May 2023 compared to the same month in 2022. This was due to a number of factors, including power shortages and rising costs of raw materials.
Soda ash prices in Europe rose in June 2023. The price of soda ash in Europe rose by 10% in June 2023 compared to the same month in 2022. This was due to strong demand from the glass and detergent industries.
The United States imposed tariffs on Russian soda ash in July 2023. The United States imposed tariffs of 35% on Russian soda ash in July 2023 in response to Russia’s invasion of Ukraine. This is expected to boost demand for soda ash from other producers, such as China and the Middle East.
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