BANGALORE, India, Jan. 24, 2022 /PRNewswire/ -- The Global Chlor
Alkali Market is Segmented by Type (Caustic soda, Chlorine, Soda
Ash), by Application (Soaps & Detergents, Textiles, Glass,
Water Treatment, Metallurgy, Pulp & Paper) and Geography –
Global Forecast up to 2027. It is published in Valuates
Reports under the Chemicals Industry Category.
The global Chlor-Alkali market size is projected to reach
USD 94200 Million by 2027, from
USD 76090 Million in 2020, at a CAGR
of 3.1% during 2021-2027.
Major Factors driving the growth of the Chlor alkali market
are:
Increasing demand for Chlorine, Caustic soda, and Soda ash is
expected to drive the growth of the Chlor alkali market growth. The
chlor alkali process involves the electrolytic breakdown of salt
(sodium chloride) produces chlorine and caustic soda (sodium
hydroxide) at the same time.
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TRENDS INFLUENCING THE GROWTH OF CHLOR ALKALI MARKET:
In the chemical industry, Chlor-alkali products such as
chlorine, caustic soda, and soda ash are essential. These items are
essential raw materials for many chemical industries, as well as
being used in a variety of industrial and manufacturing value
chains. Some of the applications where chlorine, caustic soda, and
soda ash are used include glass, alumina, paper & pulp, and
end-user industries such as construction, automotive, and others.
Thus the steady increase in demand across various end-user
industries is expected to drive the growth of the chlor alkali
market.
The Chlor-alkali market is predicted to be driven by rising
industrialization in emerging economies such as China, India,
South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina over the next five years.
The United States, China, India,
and Germany, among others, lead
the plastics market. The Chlor-alkali market in Brazil, China, South
Africa, and Argentina,
among other rising countries, has tremendous growth potential.
Growing glass demand from construction, automotive, packaging and
other industrial applications is also expected to boost the market
growth as soda ash forms an essential component of glass
products.
Membrane cell technology is used to subdue the Chlor alkali
production technique. However, the mercury cell technique is still
used in many manufacturing facilities. Mercury is a highly
dangerous element, and lawmakers have been forced to impose strict
environmental laws on such procedures due to environmental
concerns. As a result, manufacturers are switching from mercury
cells to more environmentally friendly membrane cells. On the back
of increased environmental concerns, many plants in Europe converted their technologies, and the
same is likely to happen in other areas of the world in the future
years. This in turn is expected to create lucrative growth
opportunities for the chlor alkali market players.
Rising Demand for Vinyl Polymers to Augment Chlor Alkali Market
Growth. Vinyl manufacturing necessitates the use of a lot of
chlorine. Chlorine is used to manufacture a variety of downstream
chemicals, including polyvinyl chloride (PVC). PVC usage in
numerous end-use sectors is rapidly rising, presenting profitable
growth prospects for Chlor alkali market participants.
For example, PVC tapes and cases are healthily used in
electrical applications due to their unique properties. The
emergence of electric vehicles in the developing world is likely to
boost the consumption of PVC and chlorine used in vinyl. Thus,
healthy demand from end-use industries is expected to drive the
market.
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CHLOR ALKALI MARKET SHARE ANALYSIS:
Glass is expected to be the most lucrative segment in the chlor
alkali market. Soda Ash accounts for the largest share: Soda ash is
a necessary ingredient in the production of glass. Glass is made by
melting silica soda ash and calcium compounds, as well as coloring
additives and metallic oxides (about 15% of the total weight of the
glass).
Based on region, Asia-Pacific
is expected to be the most lucrative region. The largest
Chlor-alkali market in the world, with the highest demand, is
China due to the presence of
emerging markets, the availability of raw materials, and reduced
labor costs.
Key Companies:
- Olin
- Solvay
- Tata Chemicals
- Occidental Petroleum (OXY)
- Axiall
- AkzoNobel
- Formosa Plastics
- Hanwha Chemical
- Tosoh
- Nirma
- Tronox
- Xinjiang Zhongtai Chemical.
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SIMILAR REPORTS:
- The global Hydrogen Chloride market was valued at USD 846 Million in 2020 and it is expected to
reach USD 1584.3 Million by the end
of 2027, growing at a CAGR of 8.8% during 2021-2027.
- The global Sodium Chlorite market was valued at USD 229.7 Million in 2020 and it is expected to
reach USD 368.9 Million by the end of
2027, growing at a CAGR of 7.0% during 2021-2027.
- The global Calcium Chloride market size is expected to grow
from USD 1081.3 Million in 2020 to
USD 1416.5 Million by 2027; it is
expected to grow at a CAGR of 3.9% during 2021-2027.
- The global Caustic Soda market size is estimated to be worth
USD 24850 Million in 2022 and is
forecast to a readjusted size of USD 30190
million by 2028 with a CAGR of 3.3% during the review
period.
- The global Potassium Chloride market size is projected to reach
USD 13390 Million by 2027, from
USD 12840 Million in 2020, at a CAGR
of 0.6% during 2021-2027.
- Global Chlor-alkali Ion Exchange Membrane Market Size,
Manufacturers, Supply Chain, Sales Channel and Clients,
2021-2027
- Global Special Equipment for Chlor-Alkali Market Outlook
2022
- Global Soda Ash Market Outlook 2022
Click here to see related reports on Chlor Alkali Market
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