The Europe Soda Ash Market is expected to reach a CAGR of 2.3% and is expected to witness steady growth to arrive at 16 billion USD by 2028 for the forecast period 2023-2028.
Rising demands from the soap and detergents industry are one of the major driving factors for the soda-ash industry in the European region. Sodium carbonate has an innate ability to control the pH of the water and thus it is implied in various industries where pH regulation of water takes place, which is a mandatory requirement for industries operating in the EEA.
The soda-ash market in Europe is primarily driven by the increase in construction activities and the rising demand for glass. The growth is also complemented by the rising automobile industry in the region which bolsters the market and maintains a healthy relationship between supply and demand.
Baking soda or Sodium bicarbonate is made from light soda ash, which is used in poultry for animal feed, fire extinguishers, and vegetable cleaning processes, blasting of metals, production of chemicals, oral care products, deodorizers, and personal care products to name a few. Recently, the soda ash market’s growth is driven by its various applications. Sodium carbonate heptahydrate is extensively used by the brick industry as a moistening agent to decrease the amount of water needed to extrude the clay. Due to its properties such as high melting point, and stable but hygroscopic solid, soda ash is highly utilized in industrial manufacturing.
Factors holding back the market are:
The soda-ash market has witnessed increased competition from caustic soda, sodium silicate, etc. in the past few years. These competitors are proving to be a very feasible substitute for the soda ash and thus hinder the growth of the former. Along with this, the maturity of the market provides very few segments to make investments and come up with breakthrough innovations, thus adding to the slowing down of the market.
The soap and detergent industry is one of the most mature businesses in the European region. The European governments have made huge investments toward promoting health and hygiene among the residents and this has a positive impact on the soda ash market.
Water treatment is one of the serious processes considered in Europe. The de-acidification of wastewater is taken very seriously, and, in this process, Baking soda is heavily used as it helps in regulating the pH level of water. This wastewater upon meeting the accepted levels of pH is then disposed of. The stringent government norms of the EU have made this process mandatory for all industries operating in Europe thus increasing the demand for soda ash.
The coronavirus has exposed severe challenges for the soda ash market by impacting the application sectors. Major economies of Europe are affected due to the pandemic as nations like Italy, the UK, etc., were the early hotspots during the pandemic. However, the Soda Ash market saw substantial growth in this period owing to the increased sanitation activities that became mandatory in almost all workplaces. This subdued growth is partially accredited to the maturity of the industry. In addition to this, increased awareness of personal hygiene and self-care products boosted the demands during this timeframe. More investments are being made toward organic compounds but Soda Ash acts as a very good substance in many industries. Post the pandemic, the market is expected to grow at a similar rate if not more at a CAGR of 2-3%.
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