Westford, USA, Jan. 16, 2023 (GLOBE NEWSWIRE) — SkyQuest’s analysis of the Caustic Soda market provides valuable insights. Caustic soda accounts for more than 40% of total inorganic chemicals and is used in a variety of applications including pulp and paper, chemicals, alumina, soaps and detergents, and textiles. The increase of end-use industries is closely related to the growth of the caustic soda market. Increased demand from the pulp and paper sectors, as well as the textile industry, is likely to drive market expansion throughout the forecast period.
Some key players dominating the global caustic soda market are Dow Chemical Company, Formosa Plastics Corporation, PPG Industries, INEOS Group Limited, Tosoh Corporation, Hanwha Chemical Corporation, Solvay SA, FMC Corporation, and Occidental Petroleum Corporation.
The manufacturing of caustic soda is an energy-intensive process. This results in high manufacturing costs, which hampers market expansion. Price volatility is another problem that market participants will experience over the projection period. Caustic soda is anticipated to be the sole commodity chemical with a price volatility of 5 to 15% in the spot market. Increased R&D initiatives for the development of new goods and manufacturing methods are projected to provide market participants with new opportunities. To meet the increased demand, major market players will concentrate on capacity development and collaborative ventures in growing countries such as India and China.
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Asia Pacific is the largest consumer of caustic soda, driven by the large population
Asia Pacific dominates the worldwide caustic soda market, accounting for more than half of the global caustic soda market in 2021. China is a major player in the Asia Pacific caustic soda market. Due to its huge forest reserves (22.5% of its land area), China is the world’s largest pulp and paper manufacturing country. The country is also a chemical processing centre, accounting for a significant portion of all chemicals produced globally.
Furthermore, caustic soda installed capacity in India was around 3.9 million metric tons in fiscal year 2021. The Indian chemical industry is extremely diverse. The south Asian country is one of the world’s top chemical producers, producing approximately 80,000 products.
Top Trends in Global Caustic Soda Market
- Growing adoption of the membrane cell technology: The membrane cell technology is becoming increasingly popular in the production of caustic soda, as it is more energy-efficient and has lower operating costs compared to traditional methods. This technology also has a lower environmental impact, as it generates less waste and emissions.
- Increasing use of recycled caustic soda: With the growing focus on sustainability, there is an increasing trend towards the use of recycled caustic soda in various applications. This can help to reduce waste and conserve resources.
- Growing demand for bio-based caustic soda: As the demand for sustainable and environmentally friendly products increases, there is a growing trend towards the use of bio-based caustic soda. This is made from natural resources such as plant-based materials, and has a lower environmental impact compared to traditional caustic soda.
- Rising demand for high-purity caustic soda: With the growing use of caustic soda in various applications, there is a growing demand for high-purity caustic soda, which is used in applications that require high levels of purity such as semiconductor manufacturing, pharmaceuticals, and food.
- Increasing use of digital technologies: The use of digital technologies such as artificial intelligence, machine learning, and the internet of things (IoT) is becoming more widespread in the caustic soda industry. These technologies can be used to improve production processes, optimize supply chain management, and reduce costs.
- Growing focus on safety and environment: The industry is focusing more on safety and environment, this includes the use of personal protective equipment, waste management, and the reduction of emissions.
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SkyQuest Survey Reveals that China is the largest producer & top exporter of caustic soda
- Sodium hydroxide (caustic soda) solid is the world’s 2403rd most traded product.
- China produced over 38 million metric tons of sodium hydroxide in 2021 and was the top exporter of caustic soda globally.
- In 2021, the top exporters of Sodium hydroxide (caustic soda) solid were China ($207M), India ($66.8M), Poland ($36.1M), Russia ($35.1M), and Chinese Taipei ($32.2M).
- In 2020, the top importers of Sodium hydroxide (caustic soda) solid were Vietnam ($29.6M), Nigeria ($26M), Indonesia ($25.1M), Ghana ($19M), and Turkey ($16.2M).
The full import-export analysis of Caustic Soda is available in the trade analysis section of the report.
Increasing alumina demand in major end-use industries
Caustic soda is used to refine raw bauxite to produce white power alumina, which is then melted to produce aluminum. According to the International Aluminium Institute, global alumina production in March 2021 was 11.832 million tonnes, bringing total output in the first quarter of 2021 to 34.199 million tonnes. Production in March increased by 11.41% month on month from 10.620 million tonnes and by 7.50% year on year from 11.006 million tonnes. Aluminum is refined from raw bauxite ore in an energy-intensive process that relies heavily on caustic soda (NaOH) as a dissolving agent. Caustic soda is utilized because it is inexpensive and widely available. Aluminum’s primary end-use sectors are building and construction, transportation, and containers and packaging. Aluminum is used in the building and construction business to produce frames for doors and windows, staircases, heating systems, roofs, furniture, and other items. It is also utilized in the construction of structures such as buildings, bridges, and roadways.
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Major Players in Global Caustic Soda Market
- The Dow Chemical Company (Dow)
- Olin Corporation
- AkzoNobel N.V.
- Reliance Industries Limited (RIL)
- Occidental Petroleum Corporation (Oxy)
- Formosa Plastics Group (FPG)
- Shin-Etsu Chemicals Co., Ltd. (Shin-Etsu)
- Axiall Corporation
- INEOS ChlorVinyls
- Bayer MaterialScience AG
- Meghmani Finechem Limited
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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Savory & Partners: Digital Nomad Visas Sparking a Migration Boom
DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.
A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit www.savoryandpartners.com.
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research
The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Range, End User, Distribution Channel, and Region
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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