The global sodium hydroxide market has garnered USD 51.8 billion in revenue in 2023, and it is projected to rise at the rate of 4.9% from 2024 to 2030, to capture USD 71.8 billion by 2030. This development of the market can be credited to the thriving housing and non-residential building activities worldwide. Here, the chemical is utilized to make concrete with a high compressive strength.
The need for aluminum oxide is increasing in several industries, like construction and automobiles, for the making of electrical wiring, body frames, lamps, wheels, transmissions, paints, anti-corrosion materials, condensers, and wear- and abrasion-resistant parts. This is mainly because it is a lucrative product and provides high toughness, less heat radiation, and high constancy at high temperatures.
Chemicals are very important in everyday human life, being utilized for the making of detergents, paints, textiles, and fragrance products, among a whole lot of other things. Furthermore, the increasing need for ecological items worldwide could be helpful for the chemical sector.
In 2023, on the basis of grade, the 50% aqueous category generated the largest revenue share, of 45%, and the category is also projected to hold its dominance during the projection period. This is mainly because this grade is more hygroscopic and can simply adsorb moisture from the atmosphere.
Thus, the 50% aqueous solution is favored for industries that require to use of corrosive soda across an extensive variety of applications. On a production scale, the majority of sodium hydroxide is treated with 50 % aqueous solution and sold in drums. Furthermore, the creation of in situ sodium methylate at bioethanol production and biodiesel processing is aided by a percentage of 50 % hydroxide to pH adjustment.
The APAC region is dominating with the largest income share of the sodium hydroxide market, at around 40%. This can be credited to the fast industrial growth in the region and improvements in the field of healthcare. Furthermore, the rising demand for the base chemical for numerous applications, like soap manufacturing and pH adjustment, and increasing government expenditure on the infrastructure, pharmaceutical, paper many other sectors that utilize NaOH in some capacity, boost the industry.
