THE IMPACT OF COVID-19 ON SODA ASH MARKET


WHAT IS SODA ASH MARKET??

Soda ash is also called the alkali ash. It is a kind of sodium bicarbonate which is mainly used for washing clothes. Sodium bicarbonate is a sodium salt crystal, which is in the powdered form and white in color. It tastes like alkali and it is odorless in nature. However, when it gets mixed up with water, it will no longer be odorless and it is also used as a solution for softening hard water. The soda ash is a widely demanded product and used in several industries all across the world. The growing industrialization and the rising demand of soda ash have resulted in the rapid growth of the soda ash market globally. If we talk about the year 2018, then the value of the growth rate of the soda ash market globally was in million dollars.

And according to a study, the value of the global soda ash market is expected to reach very high by the end of year 2025 with an unbelievable growth rate of CAGR. The year 2018 was considered as a base year for the growth of the global soda ash market and 2019 to 2025 is considered to be the future estimated year for reaching the global soda ash market to a new high. One of the leading sources of getting soda ash is trona. Trona is a mixture of sodium bicarbonate, water and sodium carbonate. If we talk about the synthetic soda ash, then it is manufactured with the help of the process Solvay or Hou with the addition of various chemicals. The soda ash is mostly used in the manufacturing of fiberglass, container glass, flat glass and other types of glasses.

IMPACT OF COVID-19 ON THE MARKET OF SODA ASH

When it comes to India, then according to the latest update, Tata Chemicals Ltd has shut down its branches in Andhra Pradesh and Tamil Nadu and has announced the shutting down of the manufacturing operations of soda ash in those states. This step was taken by one of the leading manufacturing soda ash companies of India due to the outbreak of the pandemic COVID-19. The company has also minimized the operation of the production of soda ash in Gujarat, at the Mithapur branch. Not only is the recession in the market one of the biggest reasons for scaling down the manufacturing of soda ash but also the safety and health of the employees and the stakeholders of the company.

The companies that have closed down the manufacturing of soda ash in Andhra Pradesh are located at Mambattu and Nellore and the companies in Tamil Nadu are located at Sriperumbudur and Cuddalore. The decision of shutting down the company came into effect after the announcement of the nationwide lockdown on March 24th, 2020.

Due to the outbreak of COVID-19 in the USA, the economy of the country is at an uncertain position and the market of soda ash is falling down like anything. However, the USA government is constantly monitoring the global soda ash market and working on the latest developments for improving the situation of the market of soda ash. The current scenario of the global market of soda ash is both optimistic and pessimistic.

We all know how difficult it is to maintain and do investment in your import-export business during the outbreak of the pandemic COVID-19. But Eximine is here to help you out. We help you in getting the latest updates on the global market of import-export so that you can easily make the correct decision about your business.

Location: United States

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