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.
- Tata Chemicals
- Occidental Petroleum (OXY)
- Formosa Plastics
- Hanwha Chemical
- Xinjiang Zhongtai Chemical.
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- 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.
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