Soda Ash Market to Accelerate Growth with Rising Use in Glass Manufacturing, Construction & Automotive Industries - Future Market Insights

The dense segment of soda ash is projected to grow with the value CAGR of 4.2% through the forecast period 2022-2029. Solvay SA, Ciner Group, Genesis Energy LP, CIECH SA, Tata Chemicals Ltd and others are the key market players in the global soda ash market. They collectively accounts for 45% to 50% of the global market share

NEWARK, Del., July 20, 2022 /PRNewswire/ -- The consumption of soda ash globally reached a valuation of US$ 19,190.0 Mn in 2022 and is estimated to increase at a CAGR of 4.0% to surpass a valuation of US$ 25,285.6 Mn by the end of the forecast period. From 2014 to 2021 the demand for soda ash has been valued at a steady CAGR of 3.1%. Key factors responsible for the accelerating growth of the soda ash market are increased demand for soaps & detergents manufacturing all over the world. 

According to the FMI analysis, China is identified to remain a dominant country for soda ash due to rising growth in end-use industries such as metallurgy and chemicals. China is estimated to witness a value of a CAGR of 5.1% in the soda ash market.

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The global demand for soda ash witnessed a growth rate of 3.3% during the first half of 2021, whereas the demand is estimated to increase by 3.8% during the first half of 2022.

Key Takeaways

• Due to a wide range of applications across multiple industries and being one of the most abundant natural resources, there is a major acceleration witnessed in the sales of soda ash over the forecast period.

• The increased use of soda ash in glass manufacturing, construction, and automotive industries has had a significant impact on the uptick in the use of soda ash in the market.

• A variety of chemicals are produced by soda ash such as sodium silicate, sodium percarbonate, and sodium bicarbonate. In addition to that, it is also used in the manufacturing of dyes, adhesives, and sealants along with the production of pulp in the paper and pulp industry. Backed by the diverse usage, soda ash market is likely to propel in the future.

• Significant growth in the chemical industry, increase in cash flow for setting up of manufacturing units in the untapped market, urbanization along with certain demographic factors is influencing the growth outlook of market.

• Soda ash is one of the world's most abundant natural resources. Soda ash has a wide range of applications across several industries which is a major factor accelerating the sales of soda ash in the forecast period.

• The increase in the use of soda ash for glass manufacturing, building & construction, automotive industries and many more have had a substantial effect on the increasing use of soda ash in market.

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Asia Pacific to Remain at Forefront of Soda Ash Market Growth Through 2029

Consumers in Asia Pacific have contributed substantially to the growth of soda ash market. Owing to greater net worth incomes of consumers and prodigious demand generated by construction, chemicals, soaps & detergents industry, Asia Pacific will be the epicentre of growth through 2029. The region accounts for a whopping 57.6% share in soda ash market. In addition, India and China will be the domestic growth capitals in Asia Pacific region. On the other hand Europe will account for significant revenue share during the forecast period.

Competitive Landscape

• Solvay SA

• Ciner Group

• Tata Chemicals Limited

• CIECH SA

• Genesis Energy LP

• Nirma Limited

• GHCL Limited

• DCW Ltd.

• ICI Pakistan Ltd.

• Sahand Industrial Ltd.

• Novacap Group

• Soda Sanayii AS

• Bashkir Soda Company

• Huanghua Tianxia Chemical Industry Co. Ltd

are some of the key companies profiled in the full version of the report.

Key players manufacturing soda ash are focusing on increasing their production capacities in growing regions like the Asia Pacific and Middle East & Africa. They are also focusing on augmenting their business with strategic expansions in developed regions like North America and Europe to meet the growing demand for specialty chemicals and other high-end applications. Many companies are also investing in the research & development of new products for various applications.

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Global Soda Ash Market by Category

By Density, the Global Soda Ash Market is segmented as:

• Light

• Dense

By End Use, the Global Soda Ash Market is segmented as:

• Glass & Ceramics

• Soaps & Detergents

• Paper & Pulp

• Metallurgy

• Chemicals

• Water Treatment

• Others

By Region, the Global Soda Ash Market is segmented as:

• North America

• Latin America

• Europe

• SEA & Pacific

• China

• Japan

• India

• MEA