Synopsis
• The global soda ash market is valued at around USD 21.5 billion in CY2023 and is expected to grow at a compounded annual growth rate (CAGR) of 6.6% between 2024 and 2032.
• Global soda ash market is estimated to be 63.2 million metric tonnes (MMT) in 2022, with a projected CAGR of around 3.0-3.3 percent between 2022 and 2030.The current global soda ash capacity, which stands at 71 million metric tonne (MMT) in CY2023, is expected to grow at a CAGR of 3% by 2030.
• The Indian soda ash market is expected to grow at a CAGR of 2-3% from India’s current annual consumption of 3.5-3.6 MMT in FY23, expected to reach 3.7-3.8 MMT over the period FY24 and FY25, with the current production capacity of 4.2 MMT (FY23).
