July 15, 2024
Soda Ash Market

Soda Ash Market is Expected to be Flourished by Increasing Application in Glass Industry

Soda ash, also known as sodium carbonate, is an inorganic compound used as an important feedstock in the manufacturing of glass, chemicals, soaps and detergents. It acts as a cleaning agent and water softener. Major applications of soda ash include manufacturing of glass, wherein it serves as a fluxing agent and helps in lowering the melting point of silica used for producing glass. Growing construction activities coupled with rising demand for automotive glass from burgeoning automotive industry have been driving the consumption of soda ash in glass industry.

The global soda ash market is estimated to be valued at US$ 12406.28 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing application of soda ash in glass industry has been a major growth driver for the soda ash market. As per estimates, over 70% of the total soda ash production is utilized by glass industry for manufacturing purposes. Growing construction activities especially in developing regions of Asia and Middle East & Africa have accelerated the demand for glass, thereby positively impacting the soda ash market. Expanding automotive industry has further boosted the consumption of soda ash, with automotive glass witnessing a rising application in vehicles for purposes such as windshields, rear windows and side windows.

Another driver for the soda ash market has been increasing usage of detergents and soaps. Soda ash acts as a key raw material in production of detergents and soaps, where it helps to remove stains by breaking up grease and oil. Rising population coupled with growing consumption of personal care products have stimulated the demand for household cleaners like detergents and soaps, thereby augmenting the consumption of soda ash.

Segment Analysis
The soda ash market is dominated by the glass segment which holds around 70% of the total market share. Glass is the largest application of soda ash as it is used as a raw material in the manufacturing of glass for various end-use industries like packaging, construction etc. Within the glass segment, container glass is the dominating sub-segment. This is due to high demand for soda-lime glass for manufacturing glass containers used for packaging beverages and other consumer goods.

PEST Analysis
Political: The soda ash market is highly regulated in terms of production and supply. Many governments support domestic producers through subsidies and tariffs on import which impacts the trade dynamics.
Economic: The market is dependent on growth in end-use industries like glass, chemicals, soaps and detergents etc. Performance of economies worldwide along with per capita consumption influences demand.
Social: Factors such as growing urbanization, rising disposable income, changing lifestyle and consumption patterns favour market growth through increased demand for end products.
Technological: Technologies improving efficiency of lime soda process and use of membrane cell and other renewable methods of production helps companies reduce production costs.

Key Takeaways
The Global Soda Ash Market Demand  is expected to witness high growth over the forecast period supported by growing applications in end-use industries. Regionally, Asia Pacific dominates the global market and is expected to maintain its lead position during the forecast period. China holds the largest share in the region attributable to presence of domestic manufacturers and largest consumer base.

Regional analysis
Within Asia Pacific, China is expected to remain the largest as well as the fastest growing market. This is attributed to presence of domestic soda ash production facilities catering to huge demand from glass, chemicals and detergent industries in the country. High economic growth rate and increasing manufacturing activities in China will further support the soda ash demand.

Key players
Key players operating in the soda ash market are CIECH SA, Ciner Resources Corporation, Genesis Energy LP, GHCL Limited, Lianyungang Soda Ash Co. Ltd, NIRMA LIMITED, ÅžiÅŸecam Group, Solvay, Shandong Haihua, Group Co. Ltd, and Tata Chemicals Ltd. Ciner Resources Corporation and Solvay hold significant market share in the global market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it