Sodium hydroxide (NaOH) is a white solid, highly caustic metallic alkali and base of sodium. It is an inorganic compound also known as caustic soda or lye. It is available in granules, solution, flakes, and pellets. The compound is majorly used in drain cleaner, detergents, soaps, drinking water, textiles, pulp and paper, etc. The global sodium hydroxide market is expected to grow at a significant growth rate, attributed to increasing application of the compound for industrial application. The market in Asia Pacific is expected to register a relatively high growth rate over the forecast period, owing to the high growth of paper as well as textile industry across the region.
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The major factors driving growth of the global sodium hydroxide market include growing industries such as food, pharmaceuticals, textiles, construction and paper and pulp across the globe. However, major substitute for sodium hydroxide is potassium hydroxide, which is expected to restrain the market over the forecast period. Additionally, high cost of production of sodium hydroxide is also expected to create negative impact on the market. Companies manufacturing sodium hydroxide products can leverage potential opportunities in regions such as North America, Europe and Asia Pacific, attributed to rapidly growing food and textiles industries, and the trend is expected to continue over the forecast period.
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The global sodium hydroxide market is segmented on the basis of end-use industry, application, and region. Among the end-use industry segments, pulp and paper industry segment contribute for significant value share over the forecast period in sodium chloride market. Based on product form, liquid is expected to count for relatively high revenue share with significant growth rate than solid form, attributed to comparatively easy to handle and store than solid form sodium hydroxide.
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