New York, April 04, 2023 (GLOBE NEWSWIRE) -- The global soda ash market accounted for US$ 21.3 billion in 2022. It is estimated to exceed US$ 43.1 billion by 2032 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2032. Soda ash, also known as sodium carbonate or washing soda, is an alkali refined from the trona mineral. Natural soda ash with brine and the mineral natrolite is called natural soda ash. It is also produced through some chemical process called synthetic soda ash.
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Key Takeaway:
Soda ash is an essential ingredient in manufacturing washing powders and soaps owing to its high alkalinity and surfactant qualities. This can improve detergent solubility and effectively remove stains with less water consumption.
Factors affecting the growth of the soda ash market
Several factors can affect the growth of the soda ash market. Some of these factors include:
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Top Trends in Global Soda Ash Market
Individuals worldwide are shifting towards health and wellness, and due to this, consumers are using soda ash in home cleaning due to its cost-effectiveness. Soda ash is used in batteries for cars and bikes, adoption of electric vehicles is increasing due to environmental issues and high disposable income. Due to this, soda ash has a high demand for batteries.
Demand for container glasses is increasing in the food and beverages industry. Increasing awareness regarding health, soda ash demand for wastewater treatment is increasing, and such current trends are observed in the global soda ash market.
Market Growth
The soda ash market growth is contributed by the increasing use of soda ash in the glass industry. Soda ash reduces the melting temperature of the sand, which is the primary material in glass manufacturing. Due to this, soda ash has high demand in the glass industry.
Increasing car sales and growing construction activities worldwide drive the demand for soda ash in the glass industry. Also, soda ash has significant applications in soap and detergent industries, such as removing stains and improving solvency using less water. This is the main growth factor of the soda ash market.
Regional Analysis
This market was dominated by North America, which acquired the most important revenue share of 40% in 2022. The United States is the world's largest producer of natural soda ash due to its large trona reserves. Also, the increasing production of synthetic soda ash and increasing automotive industries are driving the growth of the market in the North American region.
Asia Pacific is expected to show significant growth in the soda ash market during the forecast period. China and India are the largest consumers of soda ash due to the high demand in the glass and soaps & detergents industries. Also, increasing numbers of car manufacturing industries in China and India are anticipated to drive demand for glass in such industries.
Construction activities in emerging economies such as China, Japan, and India are driving the need for glass resulting in high demand for soda ash in glass manufacturing industries. Changing lifestyles, higher demand, and rapid industrialization is expected to drive growth in the soda ash market in Europe, the Middle East, and Africa region.
Competitive Landscape
Several soda ash market companies are concentrating on improving their product quality to stay competitive in the global market. Companies also focus on various factors such as product range, quality, price, functionality, size, packaging, and marketing effort to gain a competitive advantage in the market.
Some of the major players in the soda ash market include CIECH SA, Ciner Group Resources Corporation, Genesis Energy L.P., GHCL Limited, Lianyungang Soda Ash Co. Ltd, NIRMA LIMITED, Sisecam Group, Solvay S.A, Shandong Haihua Group Co. Ltd, Tata Chemicals Limited, FMC Corporation, Novacap Group, DCW Limited, OCI COMPANY Ltd., Tronox limited, SEQENS Group, IMARC Group, Other Key Players.
Recent Development of the Soda Ash Market
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Scope of the Report
Report AttributeDetailsMarket Value (2022)USD 21.3 BillionMarket Size (2032)USD 43.1 BillionCAGR (from 2023 to 2032)7.5% from 2023 to 2032North America Revenue Share40%Historic Period2016 to 2022Base Year2022Forecast Year2023 to 2032Market Drivers
Rapid growth is experienced by the use of soda ash in the production of chemicals such as sodium bicarbonate, sodium chromate, silicate, bicarbonate, and percarbonate. Applications of soda ash in rechargeable batteries and metallurgical processes are driving the growth of the soda ash market. Also, due to the increasing population, laundry services are also increasing, and this soda ash has great demand in laundry services.
Soda ash is mainly used in water treatments as it softens the water. Soda ash makes water less acidic and allows more effective washing with soaps. Soda ash is used in metal industries to de-clarify phosphate and Sulphur from ferrous and non-ferrous ores. Building and construction activities in the world are increasing, and due to this, there is high demand for quality metals which has surged demand for soda ash in metal industries.
Market Restraints
The availability of alternatives for soda ash, such as sodium lauryl sulfate or ethylated propylene glycol, is the main restraining factor for market growth. Also, several side effects of soda ash on the environment are expected to have a negative impact on the soda ash market growth.
Market Opportunities
The glass industry is the largest and most significant consumer of soda ash and is expected to propel global demand for soda ash in the forecast period. Glass manufacturers prefer soda ash due to its less environmental effects, high quality, and cost-effectiveness. Soda ash is used in the manufacturing of mirrors, optical glass, and solar panels. It has large applications in the manufacturing of laminated and tempered glass in the automotive industry. Due to these reasons, there is expected to be a high demand for soda ash in the glass industry. It is anticipated to create lucrative growth opportunities in the market.
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Report Segmentation of the Soda Ash Market
Type Insight
Based on type, the light soda ash segment is dominant in the market with the largest market share of 58% and is expected to continue its dominance during the forecast period owing to high demand for light soda ash in the production of soaps, detergents, paper & pulps, cleaning compounds, and production of chemicals.
End-Use Industry Insight
Based on the end-use industry, the glass industry segment is dominant in the market with a market share of 43%, and will remain dominant during the forecast period. China is the largest producer and exporting country in the world. Large applications of glass in construction industries are the primary factor for the growth of the soda ash market.
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Market Segmentation
By Type
By End-Use Industry
By Geography
Key Market Players
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