Soda Ash And Derivatives Market - Global Outlook & Forecast 2023-2028

The global soda ash and derivatives market is expected to grow at a CAGR of 3.06% from 2022 to 2028.

MARKET TRENDS & OPPORTUNITIES

Essential Role of Soda Ash in Glass Manufacturing

The growing investments in solar energy have fronted to a surge in demand for processed glass used in solar panels, consequently driving the expansion of its manufacturing sector. A notable example of this trend occurred in July 2022, when Hanwha Group, a South Korean company, agreed to acquire solar glass from Canadian Premium Sand. This procurement was intended to support Hanwha's new manufacturing facility in the United States, which is expected to have a solar energy production capacity of 3GW. As a result, there has been a substantial increase in the demand for soda ash in the soda ash and derivatives market.

Emerging Demand for Natural Soda Ash

Concerns about using chemical compounds that cause skin problems and water pollution drive the demand for biodegradable alternatives. This is expected to encourage manufacturers to invest in R&D initiatives and launch innovative products. Moreover, concerns of governments in several economies regarding the disposal of wastewater and plastic packaging force vendors to manufacture sustainable products, which is significantly raising the demand for natural soda ash in the soda ash and derivatives market. Using natural ingredients makes them safe for the environment and human health. Several vendors actively incorporate natural elements in response to rising concerns about sustainability.

Increasing Textile Industry

The textile industry has roots dating back several centuries and holds a significant economic position. It encompasses various sectors, ranging from hand-spun and hand-woven textiles to technologically advanced mills. Light soda ash plays a crucial role in the dyeing process of textiles. It is used to adjust the pH level, particularly in the dyeing of cotton and other cellulose fibers like linen, rayon, Tencel, or hemp. By altering the pH, soda ash facilitates the reaction between the fiber-reactive dye and the cellulose fiber, resulting in a permanent bond that securely holds the dye to the fiber. The specific pH requirement varies depending on the type of fiber and the desired dye color. Furthermore, the demand for organic dyes for sustainable textiles and clothing drives the textile dyes market. The major factors driving the textile dyes market are increased R&D investment in non-toxic and natural dyes, constant innovation in textile chemistry, and the development of dye systems that consume less water to prevent pollution.

SEGMENTATION INSIGHTS

INSIGHTS BY DENSITY

The light density segment held the largest global soda ash and derivatives market share in 2022 since light soda ash is used in dyeing cotton and other cellulose fibers, such as linen, rayon, Tencel, or hemp, to increase the pH (alkalinity) of the reaction. The ideal pH depends on the fiber and the unique dye color. Further, light soda ash is a pH regulator in various industrial processes. Washing soda, an anhydrous form of soda ash, combines light soda ash with additional water molecules. It is commonly used in soaps and washing detergents to enhance their cleaning properties.

Segmentation by Density

• Light
• Dense

INSIGHTS BY PROCESS

The synthetic process segment is dominating the global soda ash and derivatives market owing to the increasing production of synthetic soda ash and increasing usage in automotive industries, which are lashing the market's growth in regions such as Europe and Asia. China is one of the major producers of synthetic soda ash. However, the North American region is one of the larger producers of natural soda ash owing to the presence of trona mines.

Segmentation by Process

• Synthetic
• Natural

INSIGHTS BY APPLICATION

The global soda ash and derivatives market by application is segmented as flat glass, container glass, chemicals, soap detergents, PV panels, and other applications. The flat glass segment dominated the market in 2022, owing to the brisk growth in usage to manufacture soda-lime-silica glass, flat glass for (automotive and construction) and glass containers (food and drink), among other glass industries. Furthermore, the market is expected to experience growth due to the expanding installations of solar energy systems worldwide and the growing adoption of glass architecture in residential and non-residential construction projects. Factors such as the diminution of renewable resources, government regulations promoting sustainable energy sources, increasing environmental concerns, cost reductions in solar installations, technological advancements, and rising demand for electricity are driving the expansion of solar capacities. Such factors, in turn, are benefiting the growth of the market. Therefore, demand for flat glass for the housing, automotive, and commercial building industries and container glass for consumer products has driven demand for the soda ash and derivatives market.

Segmentation by Application

• Flat Glass
• Container Glass
• Chemicals
• Soap & Detergents
• PV Panels
• Other Application

GEOGRAPHICAL ANALYSIS

APAC dominated the global soda ash and derivatives market and acquired the most important revenue share of more than 54% in 2022 and is expected to show significant growth during the forecast period. China and India are the largest consumers of soda ash due to the high demand in the glass and soap detergent industries. Also, increasing numbers of car manufacturing industries in China and India are anticipated to drive demand for glass in such industries.

Segmentation by Geography

• APAC
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
• North America
  • US
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE

VENDOR LANDSCAPE

Several soda ash and derivatives market companies are improving their product quality to stay competitive globally. Companies also focus on various factors such as product range, quality, price, functionality, size, packaging, and marketing efforts to gain a competitive advantage in the industry. Some of the major players in the global soda ash and derivatives market include CIECH SA, Ciner Group Resources Corporation, Genesis Energy L.P., GHCL Limited, Lianyungang Soda Ash Co. Ltd, Sisecam Group, Solvay S.A, Ltd, Tata Chemicals Limited, FMC Corporation, and other. Vendors seek to expand their product portfolios using the latest technologies to reach a growing customer base. Vendors must devote significant efforts and resources to launch innovative, upgraded soda ash and derivatives products that meet consumer demands.

Key Company Profile

• Solvay
• Tata Chemicals Limited
• Shandong Jingling Chemical Co. Ltd.

Other Prominent Vendors

• Nirma Limited
• Tokuyama Group
• Tangshan Sanyou Group Co. Ltd
• Shandong Haihua Group
• HUBEI YIHUA CHEMICAL INDUSTRY CO., LTD
• GHCL Limited
• Genesis Energy LP
• Ciner Group
• CIECH Chemical
• Semnan Soda Ash Co.
• Weifang Haizhiyuan Chemistry and Industry Co., Ltd.
• Kakadiya Chemicals
• Sun Chemicals
• Adana Chem San A.S
• Olimpex Chemicals B.V.
• Su Jia Trading Co., Ltd.
• Greenline Chemicals
• Shanxi Yishunda Chemicals Co., Ltd.
• CJ Chemicals
• E&C Chemicals Inc.

KEY QUESTIONS ANSWERED:

1. How big is the soda ash and derivatives market?

2. What is the growth rate of the global soda ash and derivatives market?

3. What are the growing soda ash and derivatives industry trends?

4. Which region holds the most significant global soda ash and derivatives market share?

5. Who are the key players in the global soda ash and derivatives market?