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.Together, the demand for specialty chemicals is rising because of the rising usage of water treatment, construction, and electronics chemicals. Furthermore, the rising need for medicinal ingredients and food additives is having a positive effect on the chemical sector, by propelling the usage of caustic soda as a raw material.
In 2023, the diaphragm cell category generated a significant revenue share, of 30%. This is mainly because it generates 71% of the world’s NaOH. The diaphragm cell procedure uses asbestos or its substitutes to separate co-products sodium hydroxide and chlorine. The making of 50% NaOH happens mainly outside of the electrolytic cell.
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.