Chlor Alkali Market
Growth Factors of Chlor Alkali Market
The chlor alkali market size was valued at USD 52.23 billion in 2023, and the market is now projected to grow from USD 53.22 billion in 2024 to USD 62.24 billion by 2032, exhibiting a CAGR of 1.94% during the forecast period of 2023-2030.
The supply chain disruption and the transportation limitation caused interruption in the fulfilling demand for the materials. There were lockdown measures and travel bans affected the demand for the chemical. The manual labor scarcity and lack of raw material availability slowed down the manufacturing process in some areas. Therefore, the COVID-19 pandemic has created hindrance to chlor alkali market growth.
There are a range of chemicals produced by chlorine that are propelling the market presence. It is the important component used in the making of polyvinyl chloride (PVC). In the manufacturing of window frames, pipes, and other products are using this chemical extensively. Hence, the escalating demand for vinyl polymers is contributing to the chlor alkali market share globally. The flourishing construction sector in developing nations has augmented the requirement for chlorine in vinyl production.
The trend of rising implementation of greener production technologies by many manufacturers is bolstering market growth. Chlor alkali production technology is enslaved by using membrane cell technology. However, many production facilities still work using the mercury cell process. Mercury is a highly toxic element, and environmental concerns have compelled lawmakers to employ stringent environmental regulations on such processes. As a result, manufacturers are switching their mercury cell technologies to greener technologies such as membrane cells.
Comprehensive Analysis of Chlor Alkali Market
The chlor alkali market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the bulk chemicals industry. These segmentations are methodically segregated by type of application. The application includes chlorine (water treatment, paper & pulp, inorganics, intermediates, organics, vinyl, and others) and caustic soda (textile, alumina, soap & detergents, organics, inorganics, pulp & paper, water treatment, and others)
The Asia Pacific region is conducive to the global chlor alkali market; leading to a recall of USD 31.09 billion because strong growth in the construction industry has boosted the demand for chlorine used in vinyl production. In addition, substantial growth in demand for PVC pipes in the agricultural sector has impelled the market growth.
The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include Olin Corporation (U.S.), Tata Chemicals Limited (India), Tosoh Corporation (Japan), Occidental Petroleum Corporation (U.S.), Xinjiang Zhongtai Chemical Co. Ltd. (China), AGC Inc. (Japan), Inovyn (U.K.), Formosa Plastics Corporation (Taiwan), Hanwha Chemical Corporation (South Korea), Akzonobel N.V. (Netherlands), these market players provide a fair and tough competitive landscape.
In May 2023, AGC Inc. announced the investment over USD 767 million to make its chlor-alkali production capacity in Thailand by the first quarter of 2025. The venture is aimed to boost the company's production capacity significantly and augment its ambitiousness.
Segmentation Table
Global Chlor Alkali Market Scope
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 1.94% from 2024 to 2032
Unit Value (USD Billion); Volume (Million Tons)
Segmentation By Application
- Chlorine
- Vinyl
- Organics
- Intermediates
- Inorganics
- Paper & pulp
- Water treatment
- Others
Caustic Soda
- Pulp & paper
- Alumina
- Organics
- Soap & detergents
- Textile
- Inorganics
- Water treatment
- Others
By Region
- North America (By Application)
- U.S. (By Application)
- Canada (By Application)
Europe (By Application)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Russia (By Application)
- Spain (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Application)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Application)
- GCC (By Application)
- South Africa (By Application)
- Rest of MEA (By Application)
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