Global Soda Ash Market Size to Hit $26 Billion by 2025- Astute Analytica
Soda ash also referred to as sodium carbonate or washing soda, is an inorganic compound having the chemical formula Na₂CO₃. Plants grown in sodium-rich soil are used to develop soda ash through their ashes. Soda ash fits best for a vast variety of applications, including glass manufacturing, cooking, food additives, water softening, detergent manufacturing, pulp and paper, agriculture, etc.
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Soda ash is a key ingredient in glass manufacturing and accounts for around ~50% of the share because of the growing consumption and steadily growing demand for hollow glass, tableware, flat glass, solar glass, technical glass, smart glass, etc. Apart from that, the liquid soap segment is also holding a potential share due to the amplifying awareness about personal hygiene among the general public. Soda ash is also widely used in the agricultural sector in the development of a large number of fertilizers to add significant nutrients to the soil and improve its quality of the soil.
Factors Influencing the Market
The high use of soda ash in the automotive sector is primarily driving the scope of the soda ash market. The soda ash market is the key component in the manufacturing of glass for vehicles. Glass manufacturing accounts for around 50% of the total usage of soda ash, which is sparking unprecedented growth in the market.
Dense soda is gaining significant popularity as compared to light soda due to its premium quality, low impurity level, and high sodium carbonate content. Dense soda ash is claimed to be 99.2% pure, resulting in more benefits for the end-users.
The pricing curve of soda ash has witnessed abrupt fluctuations in the past few years, thereby driving the high need for potential steps. Realizing the situation, Turkey established a Trona-based soda ash plant in Kazan, which is having a tremendous annual production capacity of 2.5 million tons. Apart from that, authorities also expanded the production capacity of the existing soda ash plant in Beypazari by 0.5 million tons. Combining the new and existing plants' production capacity, the annual production of soda ash in Turkey stood at 5 million tons in 2019.
On the contrary, the fact that soda ash manufacturing results in a high amount of CO2 emission will limit industry growth.
Regional Analysis
The global soda ash market is witnessing scattered demand and supply distribution across the globe, majorly because of the rising availability of natural limestone reserves. The current utilization of soda ash on a global basis stood at 71%. Based on region, North America emerged as the largest producer of natural soda ash and is expected to exhibit a significant growth rate because of the low cost of natural products. The Asia-Pacific market for soda ash will exhibit the highest growth rate because of the constantly growing efforts of industry players on increasing the production capacity in China, India, Japan, Taiwan, etc. Additionally, Asia-Pacific, mainly China is home to one of the largest automotive industries, which will significantly contribute to the growth of the soda ash market. Since soda ash is widely used in the industrial, electronics, and other industries, the market is expected myriad growth opportunities in the region as the governments of China and India are highly focused on increasing industrialization.
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Recent Developments
Some of the key players analyzed in the soda ash market include CIECH SA (Poland), DCW Limited (India), Ciner Resources Corporation (US), Genesis Energy (Auckland), Hubei Yuhua (China), Sanyo Chemical Industries, Ltd. (Japan), Solvay SA (Belgium), Nirma Ltd. (India), Sisecam (Turkey), OCI Company Ltd. (South Korea), Shandong haihua (China), Tata Chemicals Limited (India), GHCL Limited (India), and others.
In April 2020, Tata Chemicals South Africa announced force majeure, majorly aimed at bulk shipments to South Africa.
In November 2022, WE Soda announced its plan to pour an investment of around $4 billion in soda ash capacity. The project is announced in combination with the company’s participation in the Pacific Soda project with Şişecam. This funding is expected to add nearly 6 million mtpa capacity by 2030.
In November 2022, Solvay pulled the veil off its plan to invest in the Sustainable Soda Ash Process. The pilot project of the company has been launched keeping in focus its Dombasle, France, site. This initiative has been made public after the researchers of the company unveiled the “breakthrough” method to achieve three “revolutionary” improvements, such as emitting 50% less CO2, decreasing water, brine, and limestone consumption, and removing limestone residues.
In August 2022, Solway and Union Pacific (UP) inked a pact with the aim to reduce the carbon footprint of soda ash. In November 2021, Turkey’s Şişecam signed a US$450 million deal to acquire 60% stakes in the US soda ash facility of the Ciner Group.
Market Segmentation
The market is segmented based on type, grade, end-use, and geography.
By Type
Synthetic
Natural
By Grade
Light
Dense
Washing Soda
By End-use
Industrial
o Dyes and Coloring Agents
o Water & Wastewater
o Glass
Flat
Container
Other
o Fertilizers
o Enameling
o Energy & Mining
o Glue
o Paper & Pulp
o Soaps & Detergents
o Food & Beverages
o Others
Automotive
Electronics
Power Generation
Distributors
Environmental
By Region
North America
The US
Canada
Mexico
Europe
Western Europe
Turkey
Bulgaria
The U.K.
Germany
France
Spain
Italy
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
South America
Argentina
Brazil
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of the Middle East & Africa
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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