The global soda ash market will reach a valuation of US$ 17.5 Bn in 2029, witnessing a steady growth outlook during the forecast period (2019 – 2029). According to a new study by Future Market Insights (FMI), the market for soda ash is largely influenced by upsurge in demand from detergents and soaps, chemicals, metallurgy, and construction industries.
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“Leading players in soda ash market must maintain focus on expansion through strategic collaborations in order to remain prominent at a global level,” reveals the FMI report.
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Key Research Findings of FMI’s Soda Ash Market Study
- Glass and ceramics will account for a major market share owing to high demand for glass and flat glass products.
- The soda ash market is gaining substantial tailwinds from the building & construction materials segment.
- Growth opportunities in soda ash market are primarily concentrated in Asia Pacific owing to strong expansion prospects of end-use industries in the region.
- Sustainability trend will remain instrumental to the build-up of soda ash market, influencing its pricing and application.
Key Growth Drivers – Soda Ash Market
- Energy conservation policies by governments is a key growth driver for soda ash adoption.
- The rise in high individual net worth in developing countries is projected to increase consumption of soda ash.
- Leading manufacturers continue to adopt innovative extraction processes to boost production capacity.
Key Impediments – Soda Ash Market
- Low cost of soda ash production has resulted in oversupply, potentially hindering profitability.
- Environmental regulations associated with concentration of chlorides remains a longstanding concern for producers.
Soda Ash Market Analysis 2019 – 2029
A recent market study published by Future Market Insights on the soda ash market includes global industry analysis for 2014 – 2018 and opportunity assessment for 2019 – 2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on historic as well as current growth parameters, growth prospects of the soda ash market are obtained with maximum precision.
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Competition Analysis
In this chapter, readers can find detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in this report are Solway S.A., Tata Chemicals Limited, Nirma Limited, Genesis Energy, LP, Ciner Group, DCW Ltd., CIECH S.A., and Novacap Group.