The chlor-alkali market will earn USD 57.63 billion by 2028

The chlor-alkali market will earn USD 57.63 billion by 2028

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Fortune Business Outlook

Fortune Business Outlook

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

Pune, India, August 31, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the chlor alkali market The size is projected to reach USD 57.63 billion by 2028 and show a CAGR of 1.94% over the forecast period. Chlorine is used in large volumes of vinyl production. Chlorine and various downstream chemicals are used to produce polyvinyl chloride (PVC), the third largest used polymer in the world. Increasing demand for vinyl polymers is likely to drive market growth. Fortune Business Insights™ has presented this information in its report entitled, “Chlor-Alkali Market, 2021-2028”. The market size stood at USD 46.26 billion in 2020.

Many manufacturers still use the mercury cell process for chlor-alkali production. Mercury is an extremely toxic element, and as a result, producers are adopting greener production technologies, such as membrane cell technology. The increasing adoption of such green production technologies is anticipated to amplify the growth of the market in the coming years.

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The list of key players in the global chlor-alkali market are:

  • Olin Corporation (Clayton, USA)

  • Tata Chemicals Limited (Mumbai India)

  • Tosoh Corporation (Tokyo, Japan)

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

  • Xinjiang Zhongtai Chemical Co. Ltd. (China)

  • AGC Inc. (Tokyo, Japan)

  • Inovyn (Runcorn site, UK)

  • Formosa Plastics Corporation (Taiwan)

  • Hanwha Chemical Corporation (Seoul, South Korea)

  • Akzonobel NV (Amsterdam, The Netherlands)

Scope and segmentation of the report:

Report Coverage

Details

forecast period

2021-2028

CAGR Forecast

1.94%

2028 value projection

$57.63 billion

base year

2020

Chlor Alkali Market Size in 2020

$46.26 billion

Historic information

2017-2019

Number of pages

150

Covered segments

By application and region

Chlor Alkali Market Growth Drivers

Expansion of demand from end-use sectors to drive market growth

Expansion of end-use sectors to scale growth in Asia Pacific

Impact of COVID-19-

The sudden emergence of the humanitarian crisis has inflicted a negative impact on the growth of the market. The low available workforce and the closure of production facilities during the first days of the pandemic have affected the growth of the market. Disruptions in supply chain networks have exacerbated the impact. Furthermore, reduced demand for chlorine by end-use industries further aggravated the situation. However, vaccines are now available throughout the world, and several economies have stepped up their vaccination campaigns. The market is slowly recovering and is likely to see strong growth in the coming years.

Segmentation-

Based on the application

geographically

  • Europe

  • Pacific Asia

  • North America

  • Latin America

  • Middle East and Africa

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Drivers and Restrictions-

Expansion of demand from end-use sectors to drive market growth

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

There are still many manufacturers using the mercury cell process for chlor alkali production. Mercury is an extremely toxic element and strict regulations have been implemented in this type of production process due to its harmful effects. Therefore, growers are adopting greener production technologies such as membrane cell technology. The increasing adoption of such green production technologies is anticipated to amplify the growth of the market in the coming years.
However, strict government regulations are likely to hamper the growth of the market.

Report Coverage-

  • The report highlights a detailed analysis of the key players operating in different geographies.

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

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

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

Competitive Landscape-

Key players devise clever strategies for growth

The market is fairly consolidated and comprises several key players operating internationally and domestically. The key players operating in the market mainly emphasize organic growth strategies such as new product launches. They also focus on inorganic strategies such as partnerships, mergers, acquisitions, collaborations, and cumulative growth. Formosa Plastics recently removed the force majeure on suspension PVC in June 2021.

Regional Perspectives-

Expansion of end-use sectors to intensify growth in Asia Pacific

Asia Pacific is anticipated to emerge dominant in the global chlor-alkali market share. China represents the largest consumer in the region with more than 70% market share. Increasing construction activities, expanding industrial and automotive sectors, and a burgeoning paper packaging industry are expected to be the significant growth drivers for the market. Strong developments are likely to help India emerge as the fastest growing country in Asia Pacific. North America is expected to gain the second largest market share due to high exports of chlor-alkali products globally.

Europe is likely to show steady growth due to the slow evolution of end-use sectors. Italy, Germany, UK, France and Spain are expected to dominate the regional market.
Latin America and the Middle East and Africa are expected to experience substantial growth due to improving economic conditions.

Industry developments:

Explore the detailed summary of the investigation report with TOC:

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

Detailed Table of Contents:

  • Introduction

  • Executive Summary

  • market dynamics

    • market indicators

    • market restrictions

    • market opportunities

    • emerging trends

  • Key ideas

    • Key Emerging Trends – For Major Countries

    • Industry SWOT Analysis

    • Regulatory analysis

    • Recent Industry Developments: Policies, Partnerships, New Type Launches, and Mergers & Acquisitions

  • Qualitative Insights: Impact of COVID-19 on the Global Chlor-Alkali Market

  • Global Chlor-Alkali Market Analysis, Outlook and Forecast, 2017-2028

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