The market for soda ash is predicted to be worth US$ 19.9 billion in 2023 and US$ 29.6 billion by 2033. Over the course of the projected period, the market is anticipated to grow at a CAGR of 4%.
The use of soda ash is expanding due to rising demand for both natural and manufactured products, population growth, and paper use. Additionally, the market expansion is fueled by soda ash’s growing use in the soap and detergent sector. The size of the soda ash market is being driven by the rising demand for glass from numerous end-use industries, including commercial, home, and construction.
Around 50% of soda ash is used for manufacturing glass around the globe, expanding market share. In addition, the rising adoption of soda ash to develop rechargeable batteries in the electric industry emerges as a market opportunity. Moreover, the growing awareness, investment, and government initiatives support uplifting market opportunities.
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Other end-use industries, including food, pharmaceuticals and cosmetic industries, are prominently growing their market share during the forecast period. Increasing consumer demand for dyes and reducing pollution to improve the environment boosts market share. In addition, the adoption of soda ash to extract and smelting metals, aluminum products, and mobile devices are advancing market size.
On the flip side, the demand for soda ash in water treatment, eliminating corrosion and use for making baking powder in the food sector propels market size. In addition, the rising demand for soda ash for cleaning the floor, making dish soaps and other cleaning agents are a few more factors driving the market growth.
Increase in the Production of Natural Soda Drives the United States Market
The United States is a leading global market that is securing a CAGR of 2.3% with a valuation of US$ 2.6 billion during the foreseen period. In addition, the rising adoption of glass containers in the food industry is surging the United States market. As a result, the manufacturers are growing natural soda ash production with low operating costs in the United States.
The present market players and increasing demand for soda ash in the automation sector further bolstered market growth. As a result, the United States market secured a CAGR of 1.8% between 2017 and 2022.
Key Takeaways:
- The soda ashmarket is expected to have a valuation of US$ 2.6 billion by 2033.
- With a CAGR of 4.0%, the global market increasing from 2022 to 2033.
- The United States soda ash marketis anticipated to record a CAGR of 2.3% throughout 2033.
- With a CAGR of 2.5%, the United Kingdom market significantly uplifts during the forecast period.
- China market is expected to witness a CAGR of 5.6% over the forecast period.
- India market is likely to capture a CAGR of 4.5% from 2023 to 2033.
Who is winning?
Several players are involved in the adoption of soda ash to produce innovative products with their skills. These players further focus on end-user requirements and invest huge amounts in research and development activities to expand market size.
Other Prominent Players:
- Solvay SA
- Ciner Group
- Tata Chemicals Limited
- CIECH SA
- Genesis Energy LP
- Nirma Limited
- GHCL Limited
- DCW Ltd.
- ICI Pakistan Ltd.
- Sahand Industrial Ltd.
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Soda Ash Market by Category
By Density:
- Light
- Dense
By End-use Industry:
- Glass & Ceramics
- Soaps & Detergents
- Paper & Pulp
- Metallurgy
- Chemicals
- Water Treatment
- Others
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