Furthermore, the rising utilization of this compound in the production of lightweight vehicles is anticipated to propel the caustic soda market over the forecasted period. Apart from this, the increasing product need in the extraction of alumina, which is the most common oxides of aluminum from natural minerals, is acting as another significant growth-inducing factor. Moreover, the growing popularity of caustic soda in the production of paper, wherein it assists in dissolving unwanted mixtures in the wood pulp and aids in separating the ink from paper fibers during the process of paper recycling, is also catalyzing the global market. Besides this, the elevating requirement for this chemical compound to control acidity and remove heavy metals from water, owing to its easy availability and affordability over its substitutes, is further augmenting the market growth. The escalating product demand as a raw material in several industries, such as chemical, automotive, water treatment, and food and beverage (F&B), is among the primary factors driving the caustic soda market. As a result, caustic soda finds extensive utilization in organic and inorganic chemicals, soap and detergents, food, pulp, paper, textiles, etc. It can generate substantial heat and ignite flammable materials when dissolved in water, owing to its highly corrosive nature. Caustic soda is an odorless and non-flammable white solid which is commercially available in the form of pellets, granules, flakes, and aqueous solutions of various concentrations. It is industrially prepared via the electrolytic Chlor-alkali method, in which the electrolysis of sodium chloride solution produces sodium hydroxide and chlorine gas. Caustic soda, also represented as sodium hydroxide (NaOH), refers to an inorganic compound that consists of sodium cations Na+ and hydroxide anions OH−. Looking forward, IMARC Group expects the market to reach 88.46 Million Tons by 2027, exhibiting at a CAGR of 1.9% during 2022-2027. The global caustic soda market reached a volume of 78.54 Million Tons in 2021. The report also includes competitor and regional analysis, and contemporary advancements in the global market. IMARC Group's latest research report, titled“Caustic Soda Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global. SHERIDAN, WYOMING, UNITED STATES, Octo/ / - Caustic Soda Market Price Report 2022: The global caustic soda market reached a volume of 78.54 Million Tons in 2021 & expects to reach 88.46 Million Tons by 2027, at a CAGR of 1.9% during 2022-2027.
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