Coherent Market Insights

Soda Ash Market To Be Valued at US$ 18806.03 Mn By 2030

Soda Ash Market To Be Valued at US$ 18806.03 Mn By 2030 - Coherent Market Insights

Publish On: Oct 31, 2022

Soda ash is a white solid that has no characteristic smell. It has a density of 2.54 grams per cubic centimetre at 25 degrees Celsius, making it a suitable chemical compound for making glass. Soda ash is non-toxic, though it can cause minor skin irritation and even burns. Repeated exposure can also cause cracking and swelling of the eye tissues, and lachrymation. Some forms of soda ash are more water-rich than others, and therefore heavier and larger. These require larger quantities of the product. Without the added water molecules, sodium carbonate would easily absorb water in humid conditions, reducing its strength.

Market Statistics:

The Global Soda Ash Market is estimated to account for US$ 11000.00 Mn in terms of value by the end of 2021.

Global Soda Ash Market: Drivers

The increasing demand for soda ash in glass and ceramics is driving the global market growth. Rising construction activities and automobile sales are also driving demand. Furthermore, the market is expected to grow at a steady rate in environmentally-influenced sectors, such as the pharmaceutical industry and food and beverage industries. Growing adoption of advanced technologies is also expected to spur growth of the market over the forecast period.

Global Soda Ash Market: Opportunities

In the global soda ash market, several players are seeking to develop their production capacities to meet growing demand in a variety of applications. For instance, in June 2022, Solvay, a global chemicals company, announced plans to expand its soda ash capacity by 200 kilotons at its plant in Bulgaria. This move will address the growing demand in several applications, including the manufacture of sodium bicarbonate and shaft gas treatments.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/soda-ash-market-5301

Global Soda Ash Market: Restraints

It is an energy-intensive operation which is expected to hamper the market over the forecast period.

Global Soda Ash Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic panicked traders amid the loss of all industrial activity between 2020 and 2022, thus restricting demand for soda ash worldwide. However, growth projections have resumed since mid-2021, after a temporary halt in industrial production.

Key Takeaways:

The global Soda Ash market was valued at US$ 11000.0 Mn in 2021 and is forecast to reach a value of US$ 18806.03 Mn by 2030 at a CAGR of 6.2% between 2022 and 2030.

Dense Grade segment held dominant position in the global Soda Ash market in 2021, accounting for 58.76% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Soda Ash Market Trends:

Increasing consumer awareness about personal hygiene is a key trend in the market. Moreover, rising urbanization and the growth of the chemical industry in several emerging economies are other factors contributing to the expansion of the market.

The light soda ash product is gaining traction in the market. The major drivers in this segment are increasing consumption of soaps and detergents, as well as increasing interest among soda ash manufacturers in China.

Global Soda Ash Market: Competitive Landscape   

CIECH SA, Ciner Resources Corporation, Genesis Energy LP, GHCL Limited, Lianyungang Soda Ash Co. Ltd, NIRMA LIMITED, Şişecam Group, Solvay, Shandong Haihua, Group Co. Ltd, and Tata Chemicals Ltd

Global Soda Ash Market: Recent Developments

In September 2019, Genesis Energy LP announced the investment of USD 300 million, financed by Kirkland-led GSO Capital Partners (GSO), to expand its existing Granger production facility, in order to increase the production of soda ash by approximately 750,000 metric ton per year, at its Wyoming facility.

In June 2018, GHCL announced the expansion of its soda ash production capacity by 2.3 metric ton per annum, to 12.25 MTPA, by 2020. For this, the company planned to invest INR 600 crore in a phased manner.

In June 2019, Şişecam Group with Ciner Group announced  for  an  equal  production partnership contract for natural soda production in the United States.

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