The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
The global sales of soda ash reached ~55,000 (‘000 Tons) in 2018, reveals the latest report on the soda ash market by PMR. According to the analysis, the soda ash market is projected to grow by ~4% CAGR during the forecast period. Rising demand for soda ash in glass production majorly from buildings & construction, and from automotive industry is likely to lift the soda ash market during the forecast period.
According to the study, noteworthy production of glass and ceramics in construction, renovation and automation industry has in turn led to the growth of the soda ash market. Moreover, the heavy demand for glass in food packaging, pharmaceutical packaging, and personal care is set to directly contribute to the growth of soda ash market during the forecast period.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/4526
Furthermore, significant demand for soda ash in detergents, paper & pulp, chemical, and other similar industries are contributing to the growth of the soda ash market throughout the forecast period. The global soda ash market has projected a value of ~US$ 17 Bn in 2018, and is likely to reach a market valuation of ~US$ 25 Bn by the end of the 2029.
Key Market Players Eying Opportunities in Strategic M&A
Soda ash market is a highly fragmented market owing to the presence of number of small scale and international market players. Industry players have emphasis on the key developments, such as expansion, merger, and acquisition, to fulfill the increased demand of soda ash generated from end-users across various regions such as Europe, South Asia, and East Asia.
For instance, in 2017, Ciech SA acquired JANIKOSODA S.A., manufacturer of soda and salts in Poland to expand the business overseas and enhance presence in domestic market. Furthermore, the soda ash market being highly consolidated and major market players account for more than ~70-80% in the overall markets. So, in order to sustain in the intense market competition, mergers & acquisitions are a key trend. Moreover, many manufacturers are focusing on expansion of production capabilities for soda ash owing to changing governmental regulations and policies on soda ash, which in turn, propels the growth of the soda ash market in the forecast period.
As per PMR’s deep dive analysis, key players in the soda ash market are offering soda ash with characteristic properties, based on density such as light and dense. Moreover, maximum demand for soda ash in from the glass and ceramics end use industry followed by soaps & detergents industry, which will result in heavy upsurge in the soda ash market growth during the forecast period.
Request Report Methodology@ https://www.persistencemarketresearch.com/methodology/4526
China’s Prominence in Global Market Remains Intact
Owing to factors such as stable political backdrop, and governmental regulations on soda ash in the country, China is likely to capture prominent market shares in soda ash market during the forecast period. Strong presence of major market players in the country and entrance in mergers & acquisition activities is key a factor pushing the soda ash market growth in China.
Soda Ash Market: Vendor Insights
Persistence Market Research’s business analysis also highlights inventive perceptions about the competitive set-up of the soda ash market and distinctive approaches of prominent market players. Some key players in the market are Solvay SA, Ciner Group, Tata Chemicals Limited, CIECH S.A, Genesis Energy, LP, NIRMA LIMITED, GHCL Limited, DCW Ltd., ICI Pakistan Limited, Sahand Industrial Group, Novacap Group, Soda Sanayii A.S., and among others.
Several major players of the soda ash market are adopting various strategies related to the demand point of view, from manufacturers and buyers. Significant developments & latest innovations, investments in the R&D to enrich product portfolio, and among others. Recently, Ciner group bought 75% share of the OCI Resources LP, which holds 1% share in the OCI Wyoming, world’s largest producer of soda ash. This made the Ciner group one of the prominent players in the production of soda ash.
For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/4526