Global Pharma Grade Sodium Hydroxide Market Set to Reach USD 4.79 Billion by 2031, With a Sustainable CAGR Of 6.20% | Growth Market Reports
PUNE, India, Feb. 7, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Pharma Grade Sodium Hydroxide Market by Type (Liquid Sodium Hydroxide and Solid Sodium Hydroxide), Application (Pharmaceutical, Biotechnology, and Scientific Research), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 2.79 billion in 2022 and is expected to reach USD 4.79 billion expanding at a CAGR of 6.20% by the end of 2031. The market growth is attributed to the increasing use of sodium hydroxide in the pharmaceutical industry and rising awareness regarding the benefits of sodium hydroxide in cosmetics.
Key Market Players Profiled in the Report
Hunan Erkang Pharmaceutical Co., Ltd.
Occidental Petroleum Corporation
PCC Rokita SA
TGV SRAAC LIMITED
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments, including type, application, and competitor analysis.
This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.
Highlights on the segments of the Pharma Grade Sodium Hydroxide Market
Based on types, the pharma grade sodium hydroxide market is segmented into liquid sodium hydroxide and solid sodium hydroxide. The liquid sodium hydroxide segment is expected to register a considerable CAGR during the forecast period as it is widely used in a wide range of applications including food additives, chemical fibers, water and sewerage, paper and pulp, and as a chemical agent.
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On the basis of application, the market is fragmented into pharmaceuticals, biotechnology, and scientific research. The pharmaceuticals sector is anticipated to hold a major share of the global market in the coming years due to the extensive use of sodium hydroxide to manufacture medicines that are commonly used and pharmaceutical products.
On the basis of region, the global market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is expected to register a considerable CAGR during the forecast period owing to the significant demand for sodium hydroxide among research institutes in the region.
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Key Takeaways from the Study:
Increasing research in pharma-grade sodium hydroxide to increase the application of it across various sectors can open up new pathways for the global market.
The rapid growth in healthcare sector across the globe can be one of the major factors to increase the use of sodium hydroxide for different purposes.
The increasing awareness among manufacturers regarding the benefits of using sodium hydroxide for common medicine manufacturing can boost the global market.
It is widely used for common pain relievers like aspirin, anticoagulants that can help to prevent blood clots, to cholesterol-reducing medicines.
The market in the Asia Pacific is expected to register a considerable CAGR during the forecast period as the demand for pharma grade sodium hydroxide is rapidly increasing with the booming pharmaceutical industry in the region.
Read 157 Pages Research Report with Detailed TOC on "Pharma Grade Sodium Hydroxide Market by Type (Liquid Sodium Hydroxide and Solid Sodium Hydroxide), Application (Pharmaceutical, Biotechnology, and Scientific Research), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"
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Key Segments Covered
Liquid Sodium Hydroxide
Solid Sodium Hydroxide
Middle East & Africa
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