SAN FRANCISCO, August 4, 2016 /PRNewswire/ --
The global caustic soda market is expected to reach USD 46.31 billion by 2024, according to a new report by Grand View Research, Inc. Escalating demand across various industries such as textile, pulp & paper, organic chemicals, etc. is expected to strengthen the market growth. Rising demand for alumina in automobile industry especially in Asia Pacific is considered to stimulate the market growth.
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Fluctuating prices due to high energy consumption and uneven production rates is likely to limit the market growth. Chlorine production is also expected to influence the caustic soda market as it is co-produced with chlorine.
Organic chemicals emerged as the leading application segment and accounted for 16.3% of total market volume in 2015. Owing to incessant demand for manmade fibers, the textile industry is expected to emerge as the fastest growing application segment at an estimated CAGR of 4.4% from 2016 to 2024. Textiles are expected to emerge as the leading application surpassing organic chemicals over the forecast period.
Browse full research report with TOC on "Caustic Soda Market Analysis By Application (Alumina, Inorganic Chemicals, Organic Chemicals, Food, Pulp & Paper, Soaps & Detergents, Textiles, Water Treatment, Steel/Metallurgy - Sintering) And Segment Forecast To 2024" at: http://www.grandviewresearch.com/industry-analysis/caustic-soda-market
Further key findings from the report suggest:
Grand View Research has segmented the global caustic soda market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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