Yahoo Finance Chlor-Alkali Market to Surpass a Value of USD 81.23 Billion by 2028, at a CAGR of 4.2% from 2022–2028 due to Huge Demand from Construction and Vehicle Industries
SkyQuest's research report on chlor-alkali market provides an all-inclusive industry analysis, including market trends and future projections. This report is an essential tool for industry players, stakeholders, and investors in the market, allowing them to make well-informed decisions and stay ahead of the competition. The report covers important data such as the size of the global market, the market share of key players, and the market segmentation into various regions. The report is designed to give its readers an edge in the highly competitive market.
Westford, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The chlor-alkali market in the Asia Pacific is anticipated to experience robust growth, driven by the increasing demand for products in the consumer packaged goods (CPG) industries. The CPG industries, including paper packaging, personal care, home care products, and food and beverage, are witnessing significant growth in the region. In addition, to address environmental concerns, many companies around the world are investing in developing eco-friendly production processes, such as using membrane cell technology to produce chlor-alkali compounds. These trends are expected to continue driving the market's growth in the coming years.
The demand for efficient wastewater treatment systems is on the rise as countries aim to ensure the safe treatment of household wastewater. In 2020, according to global research by SkyQuest, only 58% of household wastewater was treated safely. As a result, it has led to an increase in demand for chlor-alkali-based treatment systems, which are expected to see significant growth in the coming years as the world strives to reach the goal of 100% safe treatment of household wastewater.
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Browse in-depth TOC on "Chlor-Alkali Market"
Pages - 238
Tables - 63
Figures - 70
Chlor-alkali is the process of two essential chemicals, chlorine, and alkali, being produced simultaneously through saltwater electrolysis. These two chemicals play an important role in various industrial applications, such as water treatment, paper, textile bleaching, polymers such as PVC, and solvents like dichloromethane and chloroform. These chemicals have become increasingly widespread due to the need for high-quality water, hygiene, and sanitization in various industries.
Prominent Players in Chlor-Alkali Market
Olin Corporation (US)
Tata Chemicals Limited (India)
Westlake Chemical Corporation (US)
Formosa Plastics Corporation (Taiwan)
Occidental Petroleum Corporation (US)
Tooh Corporation (Japan)
Solvay SA (Belgium)
Nirma Limited (India)
Hanwha Solutions Corporation (South Korea)
Dow Inc. (US)
AGC, Inc. (Japan)
INOVYN (UK)
Xinjiang Zhongtai Chemical Co. Ltd. (China)
Wanhua-BorsodChem (Hungary)
Ciner Resources Corporation (US)
Chlorine Segment to Register the Fastest Growth Rate owing to Its Increasing Use in Industrial Applications
In 2021, the chlorine sector dominated the chlor-alkali market with the largest market share. The versatility of chlorine has led to many industrial applications, including the production of polymers like PVC, solvents like tetra chloromethane, chloroform, and dichloromethane, as being widely used for bleaching in the paper and textile industry. Additionally, chlorine is a crucial component in water treatment processes. As a result, China's chemical market has been growing faster than the regions, with an estimated annual growth of 4-5% compared to a global growth rate of around 3%.
The Asia Pacific region is projected to have the highest growth rate in the chlor-alkali market during the forecast period. Such growth is due to a rise in disposable income and urbanization in countries such as China and India. The rapid industrial development and urbanization in these countries have led to a surge in construction activities for domestic, industrial, and commercial purposes. It has increased demand for PVC and glass, which heavily utilize chlor-alkali. The region's growth potential, coupled with the increase in demand for products containing chlor-alkali, makes it a promising market for players in the industry.
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Membrane Cell Process Segment to Dominate the Global Market Thanks to Its Functionality to Work with Less Energy Requirement
In 2021, the membrane cell process segment was a significant portion of the global chlor-alkali market due to its eco-friendly properties. The membrane cell method is popular among producers because it requires less energy during production, making it more energy-efficient than other processes. This method also requires a lower initial investment to set up, making it more accessible for new entrants in the market. The membrane cell process uses approximately 2,250-2,500 kW per metric tonne of energy, less than the 2,400-2,700 kW per metric tonne required for chlorine synthesis using other methods. It makes the membrane cell process a widely adopted method for new plant construction.
The North American region held the second-largest market share in the chlor-alkali industry, following closely behind another key market, Europe. In addition, the region is home to some of the world's largest exporters of chlor-alkali products. In the coming years, the construction sector's growth is expected to drive an increase in PVC production and chlorine consumption. Additionally, technological advancements that make the production process more environmentally friendly and energy-efficient are projected to significantly boost the industry over the forecast period. All these factors show a positive outlook for the market and highlight the importance of continued investment and innovation in the sector.
The global chlor-alkali market is analyzed in a comprehensive report, which thoroughly examines the leading players in the industry. The report provides an overview of their competitive landscape, production capacity, and recent activities such as mergers, acquisitions, investments, capacity expansions, and plant upgrades. The report also evaluates the market based on Porter's five forces model, which offers insights into the market dynamics and competition. Additionally, the report includes a SWOT analysis, which helps to spot the market's strengths, weaknesses, opportunities, and threats.
Key Developments in Chlor-Alkali Market
Mitsui & Co., Ltd. and Olin Corporation have announced the formation of the Blue Water Alliance JV, LLP (BWA) and the initiation of its operations. The two companies have collaborated to create a strategic alliance and establish BWA as a joint venture to provide an optimal and independent solution for procurement, sales, and logistics in the chlor-alkali industry. This collaboration aims to accelerate the industry's efforts toward de-carbonization and has received the necessary regulatory approvals.
AGC Inc., a company based in Tokyo, has decided to ramp up production at AGC Vinythai Public Co. Ltd. This newly established company consolidates AGC's chlor-alkali business in Indochina. The production increase is set to occur at two facilities in Thailand and is planned to commence in the first quarter of 2025. The expansion effort aims to strengthen AGC's presence in the region and meet the growing demand for its products in the Indochina market.
Asahi Kasei has announced its plans to build a new alkaline water electrolysis test plant to produce hydrogen. The plant is expected to become operational in early 2024. Its primary focus will be to test the responsiveness of hydrogen production to fluctuations in renewable energy sources and to evaluate the performance of the electrolysis modules during operation. It will aid in verifying the technology, enhance the design and operation of the apparatus, and improve control methods.
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