The global chlor-alkali market was documented US$ 93.33 Bn. 2019 and is expected to reach US$ 142.24 Bn. by 2027, at a CAGR of 6.2% during a forecast period.
Global Chlor-Alkali Market
Definition:
The term Chlor-alkali denotes two chemicals entities chlorine and alkali used instantaneously to produce caustic soda, chlorine, potassium hydroxide and muriatic acid by the electrolytic decomposition of saltwater for industrial process.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Growth Elements:
Rapid urbanization, growing population and disposable income in developed and developing economies are considered as the key factors to generate numerous opportunity for the global chlor-alkali market. Numerous application and demand from the major end-user industry expected to drive the global chlor-alkali market. Chlorine derivative is playing an enormous role to drive the global Chlor-alkali market specifically from the petrochemical industry for the production of products such as PVC, propylene oxide, propylene glycol, chloro-methane, PTFE, HCFC, Epichlorohydrin, toluene diisocyanate, Polycarbonates, and methylene diphenyl diisocyanate. Consumption of caustic soda for individual packaging solution is expected to boost the global Chlor-alkali market in the upcoming forecast. For instance, Nouryon— a speciality chemicals supplier, manufactures caustic soda at its membrane electrolysis plant in Frankfurt to meet high-quality standards of end-users in Western Europe. The subsequent innovations are contributing to the exponential growth in revenue of caustic soda in the chlor-alkali market. Furthermore, significant growth is observed from the textile and glass industry is promoting the targeted market.
The major factors that drive the Chlor-alkali market hasten the growth of the chemical industry in the developing countries and supplement demand of the Chlor-alkali products by the end-user industries such as glass, construction, food, paper and pulp, metallurgy, and others.
However, influences such as energy-intensive operations and environmental subjects due to mercury and carbon emissions are anticipated to obstruct the market growth during the forecast period.
Chlor-Alkali Market Segment analysis:
By product, the caustic soda segment is expected to dominate the Chlor-alkali market growth in the next seven years. The major factor to experience high demand from numerous end-users owing to its widespread application across various industries, including soap and detergent, paper and pulp, aluminium, water treatment, textiles, and others. For instance, global paper and pulp industry market was valued US$ 64.45 Bn in 2019 and estimated to reach 80.1 Bn during the forecasted period since this sector is observing a significant growth owing to numerous application which will boost the caustic soda market demand concurrently.
Chlor-Alkali Market Regional Analysis:
Globally, owing to the developing chemical, metal industry, water treatment, textile industry, paper and pulp industry and others in developed and developing regions is the key factor to dominate the Chlor-alkali market. China from the APAC region is the leading producer and manufacturer of Chlor-Alkali. The Asia Pacific market will account for over 50% of the market share of which China accounts for over 60% of the total demand. The Asia Pacific Chlor-alkali market is flourishing due to increased production of detergents as well in emerging economies such as China, India, Thailand, Malaysia, Vietnam, and others is generating numerous opportunities for the vendors present in the market.
North America is expected to dominate the Chlor-alkali market after APAC thus expected to grow at a CAGR of 3.2 % during the forecast period. Developed regions like the U.S and Canada are considered as the major contributors to the Chlor-alkali market growth in the North America region. In 2019, market size was valued US$ 93.33 Bn while in the U.S, the market size was valued 41.2 Bn and expected to increase by US$ 5.9 Bn in the coming years.
Major Development and Key Steps by The Investors for Market Progress:
• In Oct 2019, Borregaard invested 207 Mn Norwegian krone in a chlor-alkali plant at Sarpsborg site in Norway. The venture aims at renovating existing equipment and is expected to complete this project by the end of 2021.
• In July 2019, Global EPC and turnkey management company Nuberg EPC has been selected by SCE Chemicals, Morocco as the EPC lump sum contractor to establish a new Chlor-Alkali plant. The plant aimed to produce caustic soda, hydrochloric acid and sodium hypochlorite chlorine, hence this step and plant will contribute in terms of profit to the targeted market.
• In Feb 2019, Aditya Birla Group firm and Grasim Industries, has teamed up to acquire the chlor-alkali business of KPR Industries.
The objective of the report is to present a comprehensive analysis of the Global Chlor-Alkali Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Chlor-Alkali Market dynamics, structure by analysing the market segments and project the Global Chlor-Alkali Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Chlor-Alkali Market make the report investor’s guide.
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Scope of Chlor-Alkali Market
Global Chlor-Alkali market, By Product
• Caustic Soda
• Soda Ash
• Chlorine
Global Chlor-Alkali market, By Application
• Organic Chemicals
• Paper & Pulp
• Metallurgy
• Isocyanates & Oxygenates
• EDC/PVC
• Water Treatment
• Textiles
• Soaps and Detergents
• Others
Global Chlor-Alkali Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Chlor-Alkali Market,
• Xinjiang Zhongtai Chemical Company Limited
• Olin Corporation
• Solvay S.A
• Tata Chemicals Limited
• Occidental Petroleum Corporation
• Axiall Corporation
• AkzoNobel N.V
• Formosa Plastic Corporation
• Hanwha Chemical Corporation
• Tosoh Corporation
• Ineos Group Limited
• Nirma Limited
• FMC Corporation
• Dow Chemical Company
• Tosoh Corporation
• Tronox
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