Will global demand for baking soda increase by 34% in the next decade?
According to PetroChina[- 0.51% Capital Research Report] and information from the Chemical Industry Federation, IHS chemical company released the 2014 global soda market analysis report, saying that thanks to the recovery of the construction and automobile industry, global soda demand will increase by nearly 34% in the next decade. According to the report, at present, the global soda consumption has exceeded 55 million tons / year, and will increase to nearly 73 million tons / year by 2023.
The report points out that in the next ten years, the demand of global soda ash market will take an average of 2.9% But there are great regional differences. China will still increase the global demand for baking soda, with an average annual growth rate of 5% before 2023, followed by India.
