Soda Ash Market

Soda Ash Market Size (2023-2028)

The size and share of the Soda Ash Market were valued at 18.3 billion USD and have been witnessing negative growth rates in the past few years. However, the market is recovering and much of it can be attributed to the growing demand from the glass manufacturing industry.

Drivers and Restraints of the Global Soda Ash Market

The soda ash market is expected to go through transformations during the forecast period of 2022 to 2027 as the demand for natural and synthetic products is increasing, as there is a shift of trend in production economics. Rising demands from the soap and detergents industry are one of the major driving factors for the soda-ash industry in the North American region. Sodium carbonate can control the pH of the water and finds application in various industries where pH regulation is essential. Recently, the soda ash market is promoted by its applications in end-user sectors. They are extensively employed in the brick industry as a moistening agent to control the usage of water for extruding clay. Due to its features like high melting point and stability, soda ash is highly used for manufacturing in various industries. 

The low cost of natural soda ash is benefitting producers around the world. Many businesses in the US and Turkey are looking to expand their regional presence. Many key players in Europe are investing in the Research and Development of synthetic soda ash to make it more cohesive with the current market demands.

Factors holding back the Soda Ash Market are

The soda-ash market has had intense competition from products like 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. Rising energy prices is another barrier thwarting growth. Key manufacturers have to track energy costs to keep up with the economics of production. Further, the cheap availability of natural soda ash has eclipsed the demand for synthetic ones, which are costlier. In Europe, the synthetic soda ash market faced negative growth rates. This is another factor that is holding the market back.

SODA ASH MARKET REPORT COVERAGE:

Soda Ash Market Segmentation

Soda Ash Market - By Application:

• Glass

• Soaps & Detergents

• Water Treatment

• Chemicals

• Pulp & Paper

• Metallurgy

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, productions 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, stable but hygroscopic solid, soda ash is highly utilized in industrial manufacturing. 

The soap and detergent industry is one of the fastest-growing industries in the North American region. The health and hygiene sector is growing rapidly and the growth has been given impetus by awareness campaigns of health and hygiene. The local governments have made huge investments towards the growth of the health and hygiene sector.

Soda Ash Market Regional Analysis:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

North America is the largest producer of natural soda ash, thanks to its large deposits of Trona. The market in this region is expected to grow at a CAGR of 3% during the forecasted period. Since there is an abundance of natural soda ash in this region, the low cost drives the growth of the market in North America. The low cost of Soda ash is benefitting the producers in The United States and some gulf nations. The soda ash market has still not achieved maturity in the North American region and thus there is a lot of growth opportunity still to explore. The glass industry is one of the biggest application segments of soda ash. Soda ash’s ability to control the furnace temperature is utilized heavily in the glass manufacturing process.

Asia-Pacific (APAC) market is the fastest-growing market for soda ash. This market is driven by the ever-increasing production capacities of countries like China and India. By 2027, the Asia Pacific region will account for nearly 50% of the total share. The global soda ash market in China is expected to give stiff competition to the US when it comes to production. The emergence of new production plants in the region has increased the capacities and thus ignited growth.

Soda Ash Market Key players:

1. Solvay AS

2. Tronox Ltd.

3. Solvents

4. Zagros Petrochemical Company

5. Croda International

6. BASF SE

Impact of COVID-19 on the Global Soda Ash Market:

Coronavirus has caused severe problems in the soda ash market by the closure of end-user sectors. Production activities all around the world have been seriously dampened by the pandemic. The Soda-Ash market saw subdued growth in this period. Much of this aberration is owing to the increased sanitation activities which became mandatory in almost all working places. In addition, augmented consumer awareness related to personal hygiene and self-care products is supporting business demand in this period. Incessant investments are being made towards 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 3-4%.