According to a recent market study published by Growth Market Reports, titled, “Global Pharma Grade Sodium Hydroxide Market by Types, by Application and by Region: Size, Share, Trends and Opportunity Analysis, 2019-2028”, the market was valued at US$ 2,487.1 Million in 2020 and is expected to grow at a growth rate of 5.8% by the year 2028.

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Sodium hydroxide, often known as caustic soda or lye, is a highly versatile chemical that is used in a range of manufacturing processes to create a variety of different goods. Sodium hydroxide is a white crystalline odorless substance that absorbs moisture from the air at ambient temperature. It is a material that has been synthesized. It releases significant amounts of heat when dissolved in water or neutralized with acid, which could be enough to ignite combustible objects. Sodium hydroxide is a corrosive substance. Sodium hydroxide is usually applied as a solid or as a 50 percent solution. NaOH (sodium hydroxide) has no odor. It is composed of solid white crystals that absorb water from the environment. Sodium hydroxide has a feature called causticity.

The Pharma Grade Sodium Hydroxide Market has been fragmented based on by Type, by Application. By Type, the Global Pharma Grade Sodium Hydroxide Market is categorized as Liquid Sodium Hydroxide, Solid Sodium Hydroxide. In terms of application, the market is categorized as Pharmaceutical, Biotechnology, Scientific Research. Considering regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. COVID-19 has a moderate impact on the industry due to the simultaneous reduction of supply and demand. The COVID-19 pandemic caused a slight slowdown in market expansion. Once these sectors having recovered from the pandemic's effects, the market for other end-user industries is likely to restore its growth rate.

As per growth market reports industry analyst Divyanka Sankhe, “The expanding chemical and healthcare industry is expected to contribute to the growth of the Global Pharma Grade Sodium Hydroxide Market. Pharma grade sodium hydroxide is used in scientific research. In laboratories and educational institutions, the use of sodium hydroxide is expected to boost the market. Sodium and potassium hydroxide are used to adjust the pH of various goods in research and industry.

A supply chain is a network between a manufacturer and suppliers to produce and distribute a specific product to the final buyers. This network includes different people, regulatory bodies, entities, information, and resources. Raw materials used for manufacturing pharma grade sodium hydroxide are shipped to the manufacturers to be processed into final products. These products are stored at raw material warehouses or directly at manufacturing sites. Raw materials are inspected to ensure their quality.

Key Takeaways from the Study:

  • The players in the Pharma Grade Sodium Hydroxide market include BioSpectra, Inc, Columbus Chemicals, DCW Ltd, Hunan Erkang Pharmaceutical Co., Ltd., ICL, NAMA Chemicals, Occidental Petroleum Corporation, PCC Rokita SA, TGV SRAAC LIMITED, Westlake Corporation. Westlake Corporation Ltd held a major market share of the Pharma Grade Sodium Hydroxide market in the year 2020.
  • Increasing awareness regarding benefits of sodium hydroxide in cosmetics, Penetration of the product on online distribution channel, Growing investments in pharmaceutical industry, Rising R&D for drug development is expected to drive the global Pharma Grade Sodium Hydroxide market.
  • In terms of type, the market is segmented into, the Global Pharma Grade Sodium Hydroxide Market is categorized as Liquid Sodium Hydroxide, Solid Sodium Hydroxide. The preservation regulations for liquid sodium hydroxide are high as compared to solid sodium hydroxide, and the cost of preservation of solid is low as compared to liquid. Hence, consumer demand for solid sodium hydroxide is expected to rise in the forecast period.
  • Based on Applications, the Global Pharma Grade Sodium Hydroxide Market is categorized as Pharmaceutical, Biotechnology, Scientific Research. The pharmaceutical industry is expected to register substantial growth in the forecast period. Sodium hydroxide is used in the pharmaceutical industry to make a range of medicines, ranging from basic pain relievers like aspirin to cholesterol-lowering and anticoagulant drugs that help prevent blood clots. Following the emergence of COVID-19, demand for these treatments skyrocketed, as a large number of people died from blood clots long after they had recovered from the disease.
  • In terms of regions, the Global Pharma Grade Sodium Hydroxide markets are divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America holds a dominant share of the pharma grade sodium hydroxide market, due to the adoption of advanced technologies and the availability of improved healthcare infrastructure, as well as increased R&D in laboratories. The value of the pharma grade sodium hydroxide market increased, due to growing investments in pharmaceutical industry in Europe and increasing demand for pharma grade sodium hydroxide.

Report Scope:

Report Metric

Details

Market Value in 2020

US$ 2,487.1 Million

Market Growth Rate (from 2020 to 2028)

5.8 %

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Type, By Application and By Region

Key Companies Profiled

BioSpectra, Inc, Columbus Chemicals, DCW Ltd, Hunan Erkang Pharmaceutical Co., Ltd., ICL, NAMA Chemicals, Occidental Petroleum Corporation, PCC Rokita SA, TGV SRAAC LIMITED, Westlake Corporation.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturer and distributors.
  • Demand Side: Chemical Industry, Pharmaceutical industry.
  • Regulatory Side: Concerned government authorities, and other approval regulatory bodies.
  • Associations and Industry Bodies: US Food and Drug Administration (USFDA), CISA, US EPA