LONDON--(BUSINESS WIRE)--The soda ash market is expected to grow by 8.44 million ton during 2020-2024 according to the latest market research report by Technavio. Request a free sample report
The rising use of innovative and enhanced products in industries such as construction, automotive, and agriculture has increased the consumption of chemicals, which has significantly contributed to the growth of the global chemical industry. For instance, in 2019, the chemical industry in the US grew by 1%-3% and is expected to grow 2%-4% in 2020. This can be attributed to factors such as an increase in consumer spending, rising investment activities, and the stabilization of the automotive industry in the country. Soda ash is widely used in the chemical industry for the manufacture of a wide range of chemical products, including coloring agents, dyes, adhesives, sealants, fertilizers, and detergents. With the accelerating growth of the chemical industry, the demand for soda ash will increase during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40857
As per Technavio, the expansion in the capacities of soda ash manufacturing plants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Soda Ash Market: Expansion in the Capacities of Soda Ash Manufacturing Plants
The global demand for soda ash is increasing, especially from end-user applications such as glass and detergents. This is driving vendors to focus on the expansion of their manufacturing facilities to cater to the growing demand for soda ash. For instance, in September 2019, Genesis Energy announced its investment plans to expand its existing Granger production capacity to increase its soda ash production by nearly 750k tons per annum. Many such expansion plans by market vendors are expected to boost the growth of the global soda ash market during the forecast period.
“Advancements of production technologies and the rising number of merger and acquisition activities will further boost market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Technavio's SUBSCRIPTION platform
Global Soda Ash Market: Segmentation Analysis
This market research report segments the global soda ash market by application (Glass, Soaps and detergents, Chemicals and Others) and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the soda ash market in 2019, followed by Europe, North America, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to the rapid growth of residential and industrial construction activities in China.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Application
- Glass
- Soaps and detergents
- Chemicals
- Others
Geographic segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
