Global Soda Ash Market 2018-2022| Emerging Middle-class Population to Drive Growth| Technavio
LONDON--(BUSINESS WIRE)--Dec 27, 2018--The global soda ash market is expected to post a CAGR of over 2% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global soda ash market for the period 2018-2022 (Graphic: Business Wire)
A key factor driving the growth of the market is the growing applications of glass market. One of the major drivers for the growth of the soda ash market in the growing use of glass in various industries. Glass is extensively used in industries such as construction, automobile, and consumer product packaging. In 2017, the glass industry is the major end-user of the global soda ash market, which accounted for a share of 51.5%. The types of glass that use soda ash are flat glass container glass and others such as fiberglass, technical glass, and specialty glass.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the emerging middle-class population as one of the key emerging trends in the global soda ash market:
Global soda ash market: Emerging middle-class population
Strong economic growth and increased urbanization are expected to increase the middle-class population. In 2016, APAC accounted for the maximum share of the global middle-class population, with the highest contributions from countries such as India and China. By 2030, the region is expected to account for over 66% of the global middle-class population.
“By 2030, the total expenditure of the middle-class population is expected to double. The increase in the disposable income is expected to drive the consumption of detergents, paper, textiles, and cleaning chemicals. This is expected to drive the market for soda ash during the forecast period,” says a senior analyst at Technavio for research on specialty chemicals.
Global soda ash market: Segmentation analysis
This market research report segments the global soda ash market by end-user (glass, chemicals, and detergent) and geographical regions (APAC, EMEA, and the Americas).
The glass segment held the largest market share in 2017, accounting for 50% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of 59%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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