Alkali metal hydroxides are chemical compounds composed of a positively charged metal ion and negatively charged hydroxide anion (OH-). Lithium, sodium, potassium, rubidium, caesium, and francium are collectively known as the alkali metals. When these metals react with water, they form alkali metal hydroxides, which are highly alkaline. Alkali metal forms strongest bases which are known as alkali metal hydroxides. Sodium hydroxide is the most essential alkali metal hydroxides used owing to its wide array of industrial applications including pulp & paper, alumina, textiles, and soaps and detergents and others. Lithium is significantly used to manufacture lightweight batteries which serves a number of applications ranging from mobile phones to electric vehicles. Potassium hydroxide is predominantly used in agrochemicals, soaps & detergents. It is also used across the chemicals dyes, pharmaceuticals industry. Hydroxides of rubidium and caesium are rarely used in industrial applications due to their radioactivity.
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Sodium hydroxide holds a significant share of the global alkali metal hydroxides market attributed to its wide range of applications. The demand for sodium hydroxide is expected to witness growth driven by the growing industries in the Asia-Pacific. Potassium hydroxide serves almost similar applications as sodium hydroxide, but its manufacturing cost is comparatively higher than that of sodium hydroxide. Furthermore, lithium hydroxide is set to grow with the highest rate among other alkali metal hydroxides due to increasing demand for lithium-ion batteries followed by ceramic and glasses. Growing emergence of electric vehicles will spur the growth of lithium hydroxide owing to the subsidies provided by the government and strict regulations to reduce carbon emissions. Additionally, lithium hydroxide is expected to witness the highest growth among other alkali metal hydroxides during the forecast period. To summarize, the growing industries across all geographies coupled with rise in the electrical vehicle industry, infrastructural developments, and strict norms and regulations the market for alkali metal hydroxides will remain a lucrative industry over the forecast period.
The global Alkali metal hydroxides market is bifurcated into three major segments: Type, Application and region.
On the basis of type, the global alkali metal hydroxides market is divided into:
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The report on global alkali metal hydroxides market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Asia-Pacific dominates the alkali metal hydroxides market and is set to continue its dominance the market over the forecast period. The Asia Pacific accounts half for around half of the alkali metal hydroxides market. The region offers lucrative opportunities housing the largest soaps & detergents and pulp & paper industries. North America and Europe together account for a quarter of the global alkali metal hydroxides market are forecast to register growth rates in line with their respective GDPs. Latin America accounts for a mere single digit share in the alkali metal hydroxides market and will register a growth rate higher than the global average. Middle East & Africa will register high growth rate over the forecast period owing to its new infrastructural development projects.
Prominent players in the global alkali metal hydroxides market are Albemarle Corporation, International Lithium Corp., Orocobre Limited Pty Ltd, SQM S.A., Occidental Petroleum Corporation, Formosa Plastics Corporation, Ineos Group Limited, Olin Corporation, PPG Industries, Xinjiang Zhongtai Chemical Company limited and others. The alkali metal hydroxides market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the alkali metal hydroxides market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The alkali metal hydroxides market report provides analysis and information, according to market segments such as geographies, source, type, and application.
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