Caustic Based Compound Formulation Market - Forecast(2024 - 2030)
Caustic Based Compound Formulations Market Overview:
Caustic Based Compound
Formulations Market Bolster with Rise in Lightweight Vehicles Manufacturing in
the Automobile Industry
Approximately 2.1
billion population across the globe had a scarcity of safely managed drinking
water services in 2017. Caustic based compound formulations such as sodium
hydroxide are widely used to remove heavy metals from drinking water. Contaminated
water consumption is the primary reason for these many fatal deaths every year.
Increasing need to supply safe drinking water is the key factor fueling the
growth of the caustic based compound formulations market. The global caustic
based compound formulation market size was valued at $148 million as of 2018
and is expected to grow with a CAGR of 4.5% throughout the forecast period
2019-2025.
Caustic Based Compound
Formulation Market Outlook - Geographical Analysis:
Asia-Pacific generated 46.4%
of the global caustic based compound formulation market revenue in 2018.
Increasing demand from paper and pulp industry is impelling the growth of the
caustic based compound formulations in developing economies such as China and
India. These caustic based compounds are used in almost all pulp bleaching
processes. The Indian paper industry was valued at approximately $8.5 billion
as of 2018. Thus, the increasing pulp and paper production, which in turn, spur
the growth of the caustic based compound formulation market.
Caustic Based Compound
Formulation Market Application Analysis:
Solid form segment that
will be creating the most lucrative opportunities for the caustic based
compound formulation market. This application segment is projected to grow at a
CAGR of 4.87% through to 2025. In food products, a caustic based compound such
as potassium hydroxide is used as a food stabilizer and thickener, and pH
control agent. Besides, calcium oxide is widely used as a food additive in the
food industry. Thus, increasing the use of solid form caustic based compound
formulations in several food applications such as curing, canning, and also as
an ingredient in food preservatives, which in turn, incite the growth of this
market.
Caustic Based Compound
Formulation Market Growth Drivers:
Proliferated Demand in
the Automobile Sector
Caustic based compound
formulations are used in the extraction of alumina, as it finds a vast range of
applications in the production of lightweight vehicles. The number of
lightweight vehicles produced worldwide was around 19.5 million in 2017 and it
reached around 20.6 million in 2018. As a result, the growing demand for this
metal in the automobile industry is spurring the growth of the global caustic
based compound formulations market.
Rapid
Spurge in the Textile Industry
Increased usage in the textile industry
in laundering and bleaching and to process cotton fabric, which in turn, incite
the growth of the caustic based compound formulations market. These caustic
formulations are extensively used to remove oils and waxes from fiber and also
lends greater tensile strength to the fabric. Consequently, the significant properties of these compounds are
favoring the growth of the caustic based compound formulations market.
Caustic Based Compound Formulation Market- Competitive Landscape:
Prominent players in
the caustic based compound formulation market include Dow Chemical Company,
Formosa Plastics Corporation, FMC Corporation, Hanwha Chemical Corporation,
INEOS Group Limited, Occidental Petroleum Corporation, PPG Industries, Solvay
SA, and Tosoh Corporation.
Caustic Based
Compound Formulation Market Research Scope:
The base year of the study is 2018, with forecast done up to
2025. The study presents a thorough analysis of the competitive landscape,
taking into account the market shares of the leading companies. It also
provides information on unit shipments. These provide the key market
participants with the necessary business intelligence and help them understand
the future of the caustic based compound formulation market. The assessment includes the forecast, an overview
of the competitive structure, the market shares of the competitors, as well as
the market trends, market demands, market drivers, market challenges, and
product analysis. The market drivers and restraints have been assessed to
fathom their impact over the forecast period. This report further identifies
the key opportunities for growth while also detailing the key challenges and
possible threats. The caustic based compound formulation market research report also analyses the applications of caustic
based compound formulation market such as bottle cleaning, plant/equipment cleaning,
alkalinity/pH control, and chemical production.
Caustic Based Compound Formulation Market Report: Industry Coverage:
This report also documents the caustic
based compound formulation market based on compound type that includes caustic soda (NaOH), caustic
potash (KOH), and caustic lime (CaO).
The caustic based compound formulation market report also analyzes the major geographic regions
as well as the major countries in these regions. The regions and countries
covered in the study include:
- Americas: North America, Brazil, Argentina
- Europe: The U.K., Germany, France
- APAC: China, Japan, India