(MENAFNEditorial)
Global soda ash market growth is majorly driven by growing glass industry on account of increasing construction and packaging applications. China held over 30% of global glass production in 2013 and is anticipated to foresee a rise due to infrastructural improvement at domestic level. Growing glass production in China is expected to play an important role in fuelling soda ash market demand over the next seven years. Soda ash finds its application in the production of soaps detergents and numerous chemicals. Rising production output of these products in China and India on account of increasing raw material availability due to positive downstream oil & gas industry outlook is expected to augment soda ash market. Rising awareness towards softening of hard water for drinking applications is anticipated to fuel soda ash demand over the projected period.
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Asia Pacific is anticipated to be one of the promising markets for soda ash on account of application growth of construction packaging and detergents industries in China India Thailand Indonesia and Malaysia. Robust manufacturing base of flat glass in Germany is expected to have a positive impact on market in the near future. European Commission framed numerous regulations for reducing VOC emissions which is anticipated to restrict soda ash production and may challenge market growth. Middle Eastern governments are aiming to reduce reliance on domestic energy industry and framed various initiatives to promote investments in construction automotive and chemical industries at domestic level. As a result Middle East is anticipated to witness industrial growth in aforementioned sectors and likely to open new market avenues for soda ash over the forecast period.
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Key market players include MC Minerals TATA Chemicals TangShan Sanyou Chemical OCI Solvay and Penrice Soda Holdings Ltd. In July 2013 governments of Belarus and China signed a joint venture agreement and announced construction of a soda ash plant in the near future. Government of India framed Draft National Policy in 2014 aimed at increasing country’s share in global chemical industry from 3% in 2014 to 6% over the next decade. This regulatory move in India is anticipated to facilitate new investments in soda ash market over the forecast period.
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