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Soda Ash Market is Estimated to Account for US$ 17.5 Bn by 2029 | FMI Reports

Mar 13th 2020 at 3:43 AM

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.

"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.

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.

Competition Structure Analysis - Soda Ash Market

The competition landscape of soda ash market remains largely consolidated, as major players continue to capture around 70% of market share. Key producers are leveraging advanced extraction processes such as pillar and room mining to boost production capacities. Manufacturers are also entering strategic collaborations to consolidate their market position.

Some of the key players in the soda ash market include, but are not limited to CIECH SA, Tata Chemicals Ltd., Novacap Group, DCW Ltd., Ciner Group, Genesis Energy, and Nirma Ltd.

Source Linkhttps://www.accesswire.com/579712/Soda-Ash-Market-Revenues-to-Reach-US-175-Bn-Through-2029-Sustainability-Trend-to-Remain-the-Silent-Shaper-Future-Market-Insights

About the Report

This report offers global, regional, and national level analysis on the latest trends in the industry influencing the soda ash market. The study provides actionable insights on the soda ash market on the basis of density (dense and light), end use industry (glass & ceramics, soaps & detergents, metallurgy, paper & pulp, chemicals, and water treatment) across 30 countries spanning five key regions (North America, Latin America, Europe, Asia Pacific, and MEA).

Explore Extensive Coverage of FMI's Chemicals & Materials Landscape

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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