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Report
South Korea Caustic Soda Market Report and Forecast 2023-2028
Market Report I 2023-10-13 I 168 Pages I EMR Inc.
South Korea Caustic Soda Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea caustic soda market is projected to grow at a CAGR of 3.30% between 2023 and 2028. Aided by the escalating demand in the industrial sector and the burgeoning growth of end-use applications, the market is expected to grow significantly by 2028.
Caustic soda, scientifically termed as sodium hydroxide (NaOH), is an alkaline substance predominantly used for its reactive properties. It stands as a pivotal compound in several industrial processes, from paper and pulp production, textile manufacturing, soap, and detergent formulation to the refining of petroleum products. Beyond its industrial significance, caustic soda serves as a potent pH regulator, making it an indispensable element in the water treatment industry, ensuring safe water for both consumption and industrial applications.
A noticeable surge in South Korea's industrial activities serves as the main catalyst driving the South Korea caustic soda market growth. The paper and pulp industry, where caustic soda is utilised to break down wood fibres, is witnessing an unprecedented boost with the rising demand for paper-based packaging, a sustainable alternative to plastic. Likewise, the soap and detergent sector, leveraging the grease-cutting and saponification capabilities of caustic soda, is experiencing an uptick parallel to the heightened hygiene awareness amongst the South Korean populace.
Further intensifying the South Korea caustic soda market demand is its essential role in the textile industry, a significant sector in South Korea's economy. As an effective agent for scouring, mercerising, and dyeing processes, caustic soda ensures that textiles attain their desired texture, finish, and colour vibrancy.
Additionally, South Korea's position as a major player in the global electronics market also comes into play. Caustic soda finds a vital role in the extraction and refining processes of certain metals, including those used in electronics, thus substantiating its demand in the sector, and further propelling the market growth.
Yet, the applications of caustic soda are not merely confined to the abovementioned sectors. The chemical industry of South Korea, known for its innovation and robust growth, leverages caustic soda in diverse ways. From its use in organic synthesis to its role in manufacturing various essential chemicals, the breadth of caustic soda's applications is truly vast. Moreover, the petroleum refining industry, critical to South Korea's energy needs, requires caustic soda in refining processes, ensuring optimal fuel quality and safety, positively influencing the South Korea caustic soda market demand.
Market Segmentation
The market can be divided based on production process and end use.
Market Breakup by Production Process
- Membrane Cell
- Diaphragm Cell
- Others
Market Breakup by End Use
- Battery (ESS)
- Pulp and Paper
- Organic Chemical
- Inorganic Chemical
- Soap and Detergent
- Alumina
- Water Treatment
- Textile
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea caustic soda market. Some of the major players explored in the report by Expert Market Research are as follows:
- Hanwha Solutions Co., Ltd.
- LG Chem, Ltd.
- Dow Chemical Korea Ltd
- LOTTE Fine Chemical
- Tokuyama Corporation
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Caustic Soda Market Overview
8.1 Key Industry Highlights
8.2 South Korea Caustic Soda Historical Supply Capacity (2018-2022)
8.3 South Korea Caustic Soda Supply Capacity Forecast (2023-2028)
8.4 South Korea Caustic Soda Historical Demand (2018-2022)
8.5 South Korea Caustic Soda Demand Forecast (2023-2028)
9 South Korea Caustic Soda Market by Production Process
9.1 Membrane Cell
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Diaphragm Cell
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Others
10 South Korea Caustic Soda Market by End Use
10.1 Battery (ESS)
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Pulp and Paper
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Organic Chemical
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Inorganic Chemical
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Soap and Detergent
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Alumina
10.6.1 Historical Trend (2018-2022)
10.6.2 Forecast Trend (2023-2028)
10.7 Water Treatment
10.7.1 Historical Trend (2018-2022)
10.7.2 Forecast Trend (2023-2028)
10.8 Textile
10.8.1 Historical Trend (2018-2022)
10.8.2 Forecast Trend (2023-2028)
10.9 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Data Analysis (HS Code: 281511, 281512)
13.1 Major Exporting Countries:
13.1.1 By Value
13.1.2 By Volume
13.2 Major Importing Countries
13.2.1 By Value
13.2.2 By Volume
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Hanwha Solutions Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 LG Chem, Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Dow Chemical Korea Ltd
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 LOTTE Fine Chemical
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Tokuyama Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Caustic Soda Market: Key Industry Highlights, 2018 and 2028
2. South Korea Caustic Soda Historical Market: Breakup by Production Process (USD Million), 2018-2022
3. South Korea Caustic Soda Market Forecast: Breakup by Production Process (USD Million), 2023-2028
4. South Korea Caustic Soda Historical Market: Breakup by End Use (USD Million), 2018-2022
5. South Korea Caustic Soda Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Major Exporting Countries by Value
7. Major Importing Countries by Value
8. Major Exporting Countries by Volume
9. Major Importing Countries by Volume
10. South Korea Caustic Soda Market Structure
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