Chlor Alkali Market is Projected to Grow at a CAGR of 4.35% by 2030
According to ChemAnalyst report, “Global Chlor Alkali Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Chlor Alkali market has shown significant growth in historic period and is anticipated to achieve a healthy CAGR of 4.35% during the forecast period. Growing demand for emerging electrolysis technologies for the production of Chlorine, Caustic Soda, and other sodium and chlorine-based derivatives in order to increase the environment sustainability for various applications such as bleaching kraft pulps, manufacturing of Chlorofluorocarbons, disinfecting the drinking water, cleaning of surface using chlorinated solvents and others is likely to boost the Chlor Alkali market worldwide in the upcoming years.
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The Chlor Alkali is an industrial process that is used for the manufacturing of Chlorine, Hydrogen and Sodium Hydroxide i.e., Caustic soda, which are key chemicals for various end-user industries including paper and pulp, textiles, wastewater management, soaps and detergents, organic chemicals etc. These chemicals are produced by the electrolysis of Sodium Chloride solution (brine solution) in which the three main technologies include membrane cell, mercury cell and diaphragm cell. The process of membrane cell is superior and widely used method as it is energy efficient and lack harmful chemicals. The Chlor Alkali market is segmented on the basis of Caustic Soda and Soda ash products that are the primary products used in the process. The three key ingredients to make chlorine are salt, electricity and water which further produces elemental Caustic Soda (often sodium hydroxide or NaOH), chlorine (Cl2), and hydrogen (H2). Due to the highly reactive nature of these products, technologies have been developed to keep them apart and safe.
The products that are made from Chlor Alkali process including Chlorine, Hydrogen, and Caustic solutions are used in numerous industrial applications. The primary applications of Chlorine are used in PVC, organic chemicals for soda ash, inorganic chemicals, Chlorinated intermediates, soaps and detergents, pulp and paper industries and others. The growing demand of Chlorine in organic and inorganic chemical industry is expected to augment the Chlor Alkali market worldwide in the upcoming years. Chlorine ad Hydrogen being the key products of the process find its applications in the production of Hydrochloric acid which is extensively used for the manufacturing of Ammonium Chloride, Alumina, cosmetics and medicines. Bleaching powder as a by-product of Chlor Alkali process is widely used as a disinfectant also to make the water portable. In addition, the emerging technologies utilized in the procedure to make it environmentally practicable is anticipated to give the Chlor Alkali industry a big push during the forecast period. Another important by-product is Caustic soda which act as a versatile Alkali and a key commodity chemical for paper and pulp industry. The demand of Caustic soda due to the favourable growth in food processing industries and pulp industries as they are introducing Sulphur free processes, is likely to propel the global Chlor Alkali market. Increased urbanization has enhanced the demand of Alumina from the automotive industry is also expected to surge the Chlor Alkali market during the forecast period.
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In 2020, due to the spread of COVID-19, Automotive, Paper and pulp industries were among the most affected industries. During the global crises, due to nationwide lockdowns and government restrictions many companies halted their operations which caused the decrease in the production and global supply chain. Hindrance in sales and distribution impacted the demand of Chlor Alkali for the first half of 2020.
Region wise, APAC region holds the largest share of Chlor Alkali market worldwide due to an increase in the demand of Caustic soda and Chlorine production for various industries such as pulp and paper, detergents and automotive. However, increasing population and per capita income in countries like China and India are promoting the high production capacities for chlor-alkali derivatives and products will boost the Chlor Alkali market in upcoming years.
According to ChemAnalyst report, Global Chlor Alkali Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030.
Major Players:
some of the major players operating in global Chlor Alkali market include Formosa Plastics Corporation, Akzo Nobel NV, Occidental Petroleum Corporation, INEOS, Tata Chemicals Ltd, Tosoh Corporation, Hanwha Solutions/Chemical Corporation, Kemira, Olin Corporation and Others.
“Being linked to the downstream applications in soaps and detergents, paper and pulp textiles and other Industries etc, the global Chlor Alkali Industry has shown a significant growth along with the growing macro-economic factors and changing in the consumer preference. It is anticipated that India is going to become the world's fifth largest consumer market by 2025. In addition, growing per capita income worldwide poised a stronger outlook to the country’s Chlor Alkali demand. The governments restrictions and nationwide lockdowns due to the pandemic affected the global supply chain logistics and caused immediate shortage of key ingredients hence increased the prices of Chlor Alkali Meanwhile, China serves as the key growth region as well with sufficiently installed capacities and emerging technologies. With new competitors emerging across the Asian Chlor Alkali market, it is crucially important to keep an eye which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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