Chlor-alkali Market Will Earn 57.63 Billion USD by 2028

Fortune Business Insights

Fortune Business Insights

The companies included in the chlor-alkali market are Olin Corporation (Clayton, US), Tata Chemicals Limited (Mumbai, India), Tosoh Corporation (Tokyo, Japan), Occidental Petroleum Corporation (OXY) (Houston, US), Xinjiang Zhongtai Chemical Co. . Ltd. (China) and AGC Inc. (Tokyo, Japan), Inovyn (Runcorn, UK) and more players out there.

Pune, India, August 31, 2022 (GLOBE NEWSWIRE) – According to Fortune Business Insights™, chlor-alkali market It is expected to reach $57.63 billion by 2028 and show a compound annual growth rate of 1.94% during the forecast period. Chlorine is used in huge quantities of vinyl production. Chlorine and several other final chemicals are used to produce polyvinyl chloride (PVC), the world’s third largest used polymer. The increasing demand for vinyl polymers is likely to boost the market growth. Fortune Business Insights™ She presented this information in her report entitled, “Chlor-alkali Market, 2021-2028”. The market size was 46.26 billion US dollars in 2020.

Many manufacturers still use the mercury cell process to produce chlor-alkali. Mercury is a highly toxic element, and as a result, producers are adopting more environmentally friendly production techniques such as membrane cell technology. The increasing reliance on these green production technologies is expected to amplify market growth in the coming years.

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The list of major players in the global Chlor-alkali market are:

  • Olin Corporation (Clayton, USA)

  • Tata Chemicals Limited (Mumbai, India)

  • Tosuh Corporation (Tokyo, Japan)

  • Occidental Petroleum Corporation (OXY) (Houston, USA)

  • Xinjiang Zhongtai Chemical Co., Ltd. Ltd. (China)

  • AGC Inc. (Tokyo, Japan)

  • Inovine (Runcorn location, UK)

  • Formosa Plastic Company (Taiwan)

  • Hanwha Chemical Corporation (Seoul, South Korea)

  • Akzonobel NV (Amsterdam, The Netherlands)

Report scope and segmentation:

Report coverage

details

prediction period

2021-2028

CAGR FOR prediction

1.94%

2028 Value Drop

57.63 billion US dollars

base year

2020

Chlor-alkali Market Size in 2020

US$46.26 billion

Historical data

2017-2019

number of pages

150

covered slices

By application and regional

Chlor-alkali Market Growth Drivers

Expanding demand from end-use segments to support market growth

Expanding end-use segments to drive growth in the Asia Pacific region

Impact of COVID-19-

The sudden onset of the humanitarian crisis had a negative impact on market growth. Decreasing available manpower and closing production facilities during the early days of the pandemic affected market growth. Disruptions in supply chain networks have exacerbated the impact. In addition, declining demand for chlorine by end-use industries has exacerbated the situation. However, vaccines are now available globally, and many economies have stepped up vaccination campaigns. The market is recovering slowly and is likely to gain sharp growth in the coming years.

fragmentation-

On the basis of the application

geography

  • Europe

  • Asia Pacific

  • North Amarica

  • Latin america

  • Middle East and Africa

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Drivers and restrictions-

Expanding demand from end-use segments to support market growth

Chlorine is used in large quantities in the production of vinyl. Chlorine and various chemicals are used to produce polyvinyl chloride (PVC), which is the third largest polymer in the world. PVC is used by the construction industry to produce window frames, pipes and other products. Due to the rise in urbanization and industrialization, the increased construction activities are expected to increase the demand for the product and increase the growth of the market. Furthermore, PVC cases and tapes are widely used in the electrical and electronics industry due to their unique properties. The increasing demand for electric vehicles is likely to stimulate PVC consumption and thus boost market growth. In essence, the increasing demand for the product from the end-use industries is expected to amplify the growth of the global chlor-alkali market.

There are still many manufacturers that use the mercury cell process to produce chlor-alkali. Mercury is a highly toxic element, and strict regulations have been applied to these types of production processes in the wake of its adverse effects. Therefore, producers are adopting more environmentally friendly production techniques such as membrane cell technology. The increasing reliance on these green production technologies is expected to amplify market growth in the coming years.
However, strict government regulations are likely to hamper market growth.

Report coverage-

  • The report highlights a detailed analysis of the major players operating across different geographies.

  • The report provides insights into the regulatory scenarios of the market.

  • The report is based on historical data and highlights future growth tactics and opportunities.

  • The report also highlights the impact of the COVID-19 pandemic.

Competitive scene-

Major players devise ingenious strategies to increase growth

The market is to some extent standardized and includes many major players operating at the international and local levels. The major players operating in the market mainly emphasize organic growth strategies such as launching new products. It also focuses on inorganic strategies such as partnerships, mergers and acquisitions, collaboration, and accretive growth. Most recently, Formosa Plastics removed force majeure on PVC from its suspension category in June 2021.

regional insights-

Expanding end-use segments to drive growth in the Asia Pacific region

The Asia Pacific region is expected to become dominant in the global chlor-alkali market share. China accounts for the highest consumption in the region with a market share of over 70%. Increased construction activities, expansion in the industrial and automotive sectors, and a burgeoning paper packaging industry are expected to lead to significant growth drivers in the market. Strong developments are likely to help India emerge as the fastest growing country in the Asia Pacific region. North America is expected to have the second largest market share due to the high exports of chlor-alkali products globally.

Europe is likely to see steady growth due to slow developments in the end use sectors. Italy, Germany, UK, France and Spain are expected to dominate the regional market.
Latin America, the Middle East and Africa are expected to witness significant growth due to improved economic conditions.

Industry Developments:

Browse the detailed summary of the research report using the table of contents:

https://www.fortunebusinessinsights.com/industry-reports/chlor-alkali-market-101720

Detailed table of content:

  • an introduction

  • Executive Summary

  • market dynamics

    • Market Drivers

    • market restrictions

    • Market Opportunities

    • Emerging trends

  • the main ideas

    • Key emerging trends – for major countries

    • Industry SWOT Analysis

    • organizational analysis

    • Recent Industry Developments – Policies, Partnerships, New Launches, M&A

  • Qualitative Insights – Impact of COVID-19 on the Global Chlor-alkali Market

  • Global Chlor-alkali Market Analysis, Insights And Forecast, 2017-2028

Watch the table of contents…!

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