Market Overview:
The global chlor-alkali market size is expected to reach USD 55.39 billion by 2027, exhibiting a CAGR of 2.9% during the forecast period. The growing shift from conventional production technologies to greener production technologies will have an outstanding effect on the global market, states Fortune Business Insights, in a report, titled “
Chlor-Alkali Market Size, Share & Industry Analysis, By Application (Chlorine {Water Treatment, Paper & Pulp, Inorganics, Intermediates, Organics, Vinyl, and Others} and Caustic Soda {Textile, Alumina, Soap & Detergents, Organics, Inorganics, Pulp & Paper, Water Treatment, and others}), and Regional Forecast, 2020-2027.” The market size stood at USD 49.87 billion in 2019.
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Market Trend:
The Chlor Alkali trend continues to evolve, driven by the persistent demand for chlor alkali chemicals like chlorine, caustic soda, and hydrogen across various sectors such as water treatment, chemical manufacturing, and pulp and paper.
One notable aspect of this trend is the industry’s transition towards more sustainable production methods, with a preference for electrolysis utilizing membrane cell technology over mercury cell technology. This shift reflects the industry’s commitment to sustainability and adherence to regulatory standards.
Moreover, the Chlor Alkali trend involves efforts to explore alternative feedstocks and develop chlorine derivatives with enhanced performance and environmental benefits. These initiatives signify the industry’s ongoing commitment to innovation and environmental stewardship, aiming to meet demand while minimizing environmental impact.
Overall, the Chlor Alkali trend signifies the dynamic changes occurring within the chlor alkali industry, encompassing shifts in production methods, application practices, and sustainability initiatives to meet evolving market demands and environmental considerations.
The report on the chlor-alkali market describes:
- Prominent understandings of the market
- Swot Analysis of the regions
- Latest market trends and developments
- Stellar insights into the competitive landscape
- COVID-19 impact
Market Driver:
Significant Demand for Vinyl Polymers to Boost Market Growth
The growing production of vinyl and polyvinyl chloride (PVC) through chlorine will bolster the healthy growth of the market. PVC is the world’s third-largest used polymer owing to its importance in the construction industry such as pipes, window frames, and other products. The booming construction industry in developing countries can spur opportunities for the market. Similarly, the increasing application of PVC in various end-use industries will further augment the growth of the market in the forthcoming years. For instance, in electrical applications, PVC tapes and cases are extensively used due to its unique set of properties. Moreover, the growing popularity of electric vehicles can consequently accelerate the consumption of PVC and chlorine, which, in turn, will aid the expansion of the market. Besides, the exceeding demand for chlor alkali products from end-use industries will promote market growth.
Regional Analysis:
Flourishing Construction Industry to Advance Market in Asia Pacific
The market in Asia Pacific is expected to hold the largest share in the global market owing to the heavy consumption rate in the region. China dominates the Asia-Pacific region with over 70% share in the regional consumption. The growth is attributed to the booming construction industry. The increasing demand for PVC pipes in the agricultural sector will bolster the healthy growth of the market in the region. Moreover, the thriving automotive and industrial sectors will simultaneously increase the demand for caustic soda, which, in turn, will aid the growth of the market. The paper & pulp industry is expected to contribute impetus to the market in Asia Pacific. India is poised to be the fastest-growing country in the region owing to robust developments in the construction industry and thriving end-use industries. As per Oxford Economies Global Construction 2030 outlook, India’s construction industry is expected to grow twice as fast as China in the forthcoming years.
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Key Development:
January 2019: Ercros, a Spain based manufacturer of chemicals, announced that it has started the production of chlorine and caustic soda at its plant in Vila-seca I (Tarragona), Spain.
The Report Lists the Key Companies in the Chlor-Alkali Market:
- Olin Corporation (Clayton, United States)
- Tata Chemicals Limited (Mumbai India)
- Tosoh Corporation (Tokyo, Japan)
- Occidental Petroleum Corporation (OXY) (Houston, United States)
- Xinjiang Zhongtai Chemical Co. Ltd. (China)
- AGC In (Tokyo, Japan)
- Inovyn (Runcorn Site, UNITED KINGDOM)
- Formosa Plastics Corporation (Taiwan)
- Hanwha Chemical Corporation (Seoul, South Korea)
- Akzonobel N.V. (Amsterdam, Netherlands)
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