Soda Ash Market Size to Grow by 5.86 Million Tons through 2021-2025
The soda ash market is expected to grow by 5.86 million tond, accelerating at a CAGR of almost 2% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Soda Ash Market: Increasing demand for soda ash in pharmaceutical industry to drive growth
Soda ash is widely used as an active pharmaceutical ingredient in the industry. Soda ash is used as an excipient in medicinal products such as effervescent tablets, which are used in treating cold and flu. Soda ash is also used in making baking soda, which has significant health benefits as it is an effective antacid, has antibacterial properties, helps in raising the pH level of the tumors, and helps the body fight cancer. Owing to its several benefits, the demand for baking soda will grow significantly, which in turn will propel the growth of the soda ash market during the forecast period.
Soda Ash Market: Segmentation by Application
This report provides a detailed analysis of the market by Application (Glass, Soaps and detergents, Chemicals, and Others) and Geography (APAC, Europe, North America, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Soda Ash Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BASF SE, Ciech SA, Ciner Resources Corp., Genesis Energy LP, GHCL Ltd., Haviland Enterprises Inc., Hydrite Chemical Co., OCI Company Ltd., Solvay SA, and Tata Chemicals Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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