Global Chlor-Alkali market is expected to foresee significant growth owing to growing chemical industry and increasing consumer purchasing power
- Himanshu Patni
- November 16, 2021
- CHEMICAL, NEWS
- Chlor-Alkali market, Chlor-Alkali market growth, Chlor-Alkali market share, Chlor-Alkali market size, Chlor-Alkali market trends
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The global Chlor-Alkali market was stood around $60 billion in 2020 and is expected to demonstrate the growth of ~4% during the forecast period (2021-2027). Growing chemicals industry owing to rising demand from end user due to growing population and increasing consumer purchasing power are some of the key attributable factors for the growth of the market.
The global chlor-alkali market is showcasing significant growth owing to growing both organic and inorganic chemical industry across the globe. Rising people per capita income is improving people purchasing power as a result demand of products from manufacturing industries like chemical, pulp & paper, soaps & detergents, textile, metallurgy, and glass is increasing. Further, growing population is another of the major factor which is driving the demand of manufactured products as a result, demand of raw materials including chlor-alkalis is increasing in order to meet the supply-demand gap. Furthermore, globally, the concern related to water wastage and clean water is increasing among both environmental bodies and consumers, as a result, water treatment industry is witnessing significant growth owing to which demand of chlor-alkali products like Chlorine is growing as it is widely used in both residential and non-residential applications for cleaning the water.
However, in the light of COVID-19, the chemical industry including chloro-alkali witnessed downfall in both production and consumption owing to stringent measures taken by the governments across the globe which has affected the global chlor-alkali supply chain.
For a detailed analysis of the Covid-19 Impact on the industry browse through – https://univdatos.com/report/chlor-alkali-market/
- Based on type, the market is categorized into caustic soda, chlorine, soda ash, and others. Among different types of chlor-alkali, the market of caustic soda held the significant market share owing to its usage in the production of alumina using Bayer process. For instance, according to International Aluminum Organization, the global alumina production was around 133.08 million tons in 2020 compared to 115.1 million tons in 2014. Therefore, with rise in production of alumina, the demand of caustic soda is also increase.
- Based on application, the market is categorized into alumina, inorganic chemicals, organic chemicals, pulp & paper, soaps & detergents, textile, metallurgy, water treatment, glass, and others. Among different applications, chemical (both organic and inorganic) held the substantial share in the market owing to increasing demand of chemicals from large number of industries. Since, chlor-alkalis are used in the production of several bulk chemicals, therefore with increase in demand of bulk chemicals, the demand of chlor-alkali is increasing.
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For a better understanding of the market adoption of Chlor-Alkali, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific held the considerable market share owing to large base of end use industries in the regional countries like China, Japan, and India, among others. The region is the manufacturing hub of alumina, chemical, pulp & paper, soaps & detergents, textile, and metallurgy, among others. Further, increasing regional focus on water treatment industry is increasing the demand of chlor-alkalis.
Global Chlor-Alkali Market Segmentation
Market Insight, by Type
• Caustic Soda
• Soda Ash
Market Insight, by Application
• Inorganic Chemicals
• Organic Chemicals
• Pulp & Paper
• Soaps & Detergents
• Water Treatment
Market Insight, by Region
- North America Chlor-Alkali Market
- United States
- Rest of North America
- Europe Chlor-Alkali Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Chlor-Alkali Market
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
• Olin Corporation
• Westlake Chemical Corporation
• Tata Chemicals Limited
• Occidental Petroleum Corporation
• Formosa Plastic Corporation
• Solvay SA
• Tosoh Corporation
• Hanwha Solutions Corporation
• Nirma Limited
• AGC Inc.