Soda Ash Market Upheld by Glass & Ceramic Production; Soaps & Detergents Industry to Generate Prolific Demand, Opines FMI
Pegged at a steady CAGR, global revenue of soda ash market is set to exceed US$ 17.5 Bn in 2029. The upsurge in revenue is accredited to greater uptake of soda ash in glass & ceramic industry, particularly container glass and flat glass. Moreover, variegated end-use segments such as chemicals, construction, metallurgy, soaps & detergents are generating soaring demand for soda ash, concludes the FMI report.
Soda Ash Market
A recent market study published by Future Market Insights on the soda ash market includes ...
Manufacturers in soaps & detergents industry increasingly favour soda ash as a substitute for traditionally-used phosphates. Soda ash has become a crucial ingredient for numerous cleaning products. It is transforming the energy sector owing to its recyclability and reusability. Moreover, soda ash market is gathering strong impetus in developing countries with proliferation of high net worth income individuals.
Key Takeaways of Soda Ash Market Study
- Glass & ceramics hold a majority share in the global soda ash market.
- Leading manufacturers continue to adopt innovative extraction processes thereby boosting production capacity.
- Sustainability would remain key strategic focus of market leaders through 2029.
- Gains in soda ash market are primarily concentrated in Asia Pacific owing to thriving construction, chemicals, soaps & detergents industries.
- Continued usage of cost-effective alternatives such as aluminum and plastics are set to restrict widespread adoption of glass in packaging industry.
Leading players in soda ash market must adopt and implement expansionary, sustainable activities along with strategic collaborations in order to remain prominent.
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 epicenter 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.
Strategic Collaboration and Sustainability Remain Key Factors for Sustained Market Leadership
The competitive landscape of global soda ash market is highly consolidated in nature. Major players featured in this study include, but are not limited to, Tata Chemicals Ltd., DCW Ltd., Genesis Energy, LP, Nirma Ltd., Ciner Group, Novacap Group, and CIECH SA. Sustainable practices are increasingly being adopted by industry leaders worldwide. For instance, energy-efficient turbines have been installed by Tata Chemicals Ltd. as a part of their sustainability pledge. Moreover, key players continue to acquire regional companies for enhanced global presence.
Know More About the Report
FMI’s study offers an in-depth market forecast and analysis on the soda ash market. The major categories encompassed by the report include density (light and dense), end-use (water treatment, chemicals, metallurgy, paper & pulp, soaps & detergents, glass & ceramics) across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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