- Half of World's Total Chlor-alkali has been reported in Asian Countries
- Fact.MR's latest report uncovers prevailing trends and opportunities in the chlor-alkali market. The comprehensive study is interspersed with the most recent research data to offer refined demand outlook from 2021 to 2031. It analyzes change in consumer behavior and the consequent impact on the market. Special attention has been given while highlighting the growth opportunities prevailing in key segments including product and application.
NEW YORK, Oct. 6, 2021 /PRNewswire/ -- As per latest Fact.MR analysis, the global chlor-alkali market is estimated to value US$ 84 Bn in 2021. With growing demand for chlor-alkali products in chemical industry, the market is set to register a CAGR of 5.4% between 2021 and 2031, surpassing a valuation of US$ 143 Bn by 2031.
The swift expansion of chlor-alkali market can be attributed to the rising demand for chlorine and sodium hydroxide (Caustic soda) across for application across diverse industries. These chemicals are extensively used in a wide range of applications, ranging from production of plastics to paper and pulp manufacturing.
Chlorine, one of the primary products of chlor-alkali process, has a multitude of uses. It is increasingly utilized in the product of vinyl, antiseptics, and insecticides. Besides this, the study forecast chlorine application to soar in wastewater treatment and manufacturing of medicines in the coming years.
Similarly, application of caustic soda across in metallurgy, alumina production, various household products and food processing is driving the market globally.
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According to the Eurochlor, European chlorine production reached 850,820 tons in July 2021 while caustic soda production was estimated to be around 207,739 tons in December 2020. This is indicative of a conducive environment for growth of the market in Europe.
As per the report, the chlor-alkali for vinyl production segment is likely to exhibit maximum growth during the forecast period. This can be attributed to the rising demand for polyvinyl chloride (PVC) across the construction industry. As per Fact.MR, trade value of vinyl chloride polymers and other olefins is expected to be worth US$ 20.48 Bn in 2021.
Owing to the large-scale production and consumption of chlor-alkali products, Asia will lead the chlor-alkali market during the forecast period.
"As application of chlor-alkali rises steadily across various sectors, manufacturers are expected to focus on capacity expansion. Besides setting up new facilities, they are likely to explore opportunities for growth in untapped market. This also will help them gain competitive edge," says a Fact.MR analyst.
Key Takeaways from Chlor-alkali Market Survey
- With expanding wastewater treatment facilities and increasing production of aluminum & paper, Asia is expected to lead the chlor-alkali market, accounting around 40% of the revenue.
- Within Asia, China will emerge as the most lucrative market for chlor-alkali.
- North America is anticipated to account for around 35% of the global market share through 2031.
- Owing to strong presence of the chemical industry, the U.S. will continue to dominate the North America market during the forecast period.
- Based on product type, chlorine-based chlor-alkali will account for more than 50% market share by the end of 2031.
- By application, chlor-alkali for vinyl production segment is slated to surge at 4% CAGR between 2021 and 2031.
Key Drivers
- Rising demand for chlorine and caustic soda in various industries such as automotive, pharmaceuticals, paper, and chemicals is driving the chlor-alkali market
- Rapid shift from diaphragm and mercury cell systems to membrane cell process in order to tackle the mercury pollution levels is expected to bode well for the market.
To gain in-depth insights on Chlor-alkali Market, request methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=4672
Competitive Landscape
Companies operating in the chlor-alkali market are focusing on increasing their production capacity by establishing new facilities. They have adopted various organic and inorganic growth strategies such as mergers, acquisitions, partnerships, new product launches, collaborations to gain a competitive advantage in the market.
- In June 2021, Abu Dhabi National Oil Company (ADNOC) and Reliance Industries Ltd. Signed an agreement to join a new world-scale Chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TAZIZ in Ruwais, Abu Dhabi. Under the agreement, TAZIZ and Reliance will construct an integrated plant with a capacity to produce 940000 metric tons per year (m.t./yr) of chlor-alkali, 1.1 million m.t/yr of ethylene dichloride and 360,00 m.t./yr of PVC annually.
- In January 2021, INOVYN, one of the world's leading chlor-alakali technology solution providers was selected by Koyuncu Group to supply chlor-alkali technology as part of a €16 million investment at a new production facility in Konya province, Turkey. INOVYN will provide state of the art BICHLOR bipolar electrolysers for a new 33,000 square meter facility that will produce chlorine, caustic, sodium hypochlorite and hydrochloric acid
Some of the prominent players operating in the chlor-alkali market profiled by Fact.MR are:
- Formosa Plastics Corporation
- Solvay SA
- AGC Inc.
- Dow Inc.
- Tronox Limited
- Tata Chemicals Limited
- Xinjiang Zhongtai Chemical Co. Ltd.
- Axiall Chemicals
- BorsodChem
- Olin Corporation
- Westlake Chemical Corporation
- Tosoh Corporation
- Hanwha Solutions Corporation
- INOVYN
- Nirma Limited
- Ciner
- Occidental Petroleum Corporation
- Solvay SA
- Akzo Nobel SA
More Insights on the Global Chlor-Alkali Sales Outlook
Fact MR provides an unbiased analysis of chlor-alkali market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for chlor-alkali with a detailed segmentation on the basis of:
Product
- Chlorine-based Chlor-Alkali
- Caustic Soda-based Chlor-Alkali
- Soda Ash-based Chlor-Alkali
Application
- Chlor-Alkali for Glass Manufacturing
- Chlor-Alkali for Vinyl Production
- Chlor-Alkali for Organic Chemical Production
- Chlor-Alkali for Inorganic Chemicals Production
- Chlor-Alkali for Pulp & Paper Production
- Chlor-Alkali for Chlorinated Intermediates
- Chlor-Alkali for Water Treatment
- Chlor-Alkali for Other Applications
Key Questions Covered in the Chlor-Alkali Sales Outlook Report
- The report offers insight into chlor-alkali demand outlook for 2021-2031
- The market study also highlights projected sales growth for chlor-alkali market between 2021 and 2031
- Chlor-alkali market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Chlor-alkali market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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