United States, Rockville MD, July 22, 2022 (GLOBE NEWSWIRE) -- As per a recent report published by Fact.MR, the global Chlor-alkali market is poised to grow at a CAGR of 5.4% from 2022 to 2032. During the said forecast period, the industry is likely to yield a dollar opportunity worth US$ 88.5 Billion in 2022, expected to close at a valuation of US$ 150 Billion. The increasing emphasis on the sustainable manufacturing process and increasing applications of Chlor-alkali derivatives act the prominent drivers across the globe.
From 2015 to 2021, the market for Chlor-Alkali grew at a CAGR of 5.3%, closing at a value of US$ 150 Billion. As of 2022, the industry is likely to reach US$ 88.5 Billion. Prospects heightened after the augmenting applications of water treatment across the globe.
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Manufacturers are all set to adopt the PFAS-coated (Polyfluoroalkyl Substances) membrane technology in the upcoming future and avoid the usage of Chlor-alkali in chemical & other end-use industries to reduce the adverse effects on the environment.
Global Chemical Industry Spurs the Adoption of Chlor-Alkali Process
Chlor-alkali by-products: sodium hydroxide, chlorine, and soda ash are instrumental in generating necessary raw material for the bulk chemical industry. These chemicals are extensively used across plastic, alumina, paper & pulp, and other major industries.
According to the European Chemical Industry Council, the output of the global chemical industry grew by 3% in 2021 and 2% by 2022. Furthermore, it is estimated that sales in 2019 were valued at US$ 4.1 billion, with sales expected to peak at nearly US$ 7.5 trillion by 2032. Attributed to these figures, demand for the Chlor-alkali process to generate useful chemicals is bound to rise significantly.
Increased Emphasis on Sustainable Manufacturing to Rev up Sales of Chlor-Alkali
Fact.MR’s recent analysis reveals that North America is expected to possess nearly 35% of the market share through 2032. The Chlor-Alkali market evaluates nearly US$17 Billion in 2022 and is estimated to yield a dollar opportunity of US$ 26 Billion through 2032, following a CAGR of 4.3%. Manufacturing technology has strategically shifted from the diaphragm and mercury cell system to the membrane cell process globally, owing to increasing mercury pollution levels. Hence, industries are transitioning towards more sustainable manufacturing practices, spurring demand for Chlor-alkali derivatives.
In addition, the presence of chemical industries in the U.S is driving the growth of Chlor-alkali in the region. Thus, new and modern facilities will drive higher utilization and increase profitability.
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Key Segments Covered in the Chlor-Alkali Industry Survey
- Chlor-Alkali by Product
- Chlorine-based Chlor-Alkali
- Caustic Soda-based Chlor Alkali
- Soda Ash-based Chlor-Alkali
- Chlorine-based Chlor-Alkali
- Chlor-Alkali by Application
- Chlor-Alkali for Glass Manufacturing
- Chlor-Alkali for Vinyl Production
- Chlor-Alkali for Organic Chemical Production
- Chlor-Alkali for Inorganic Chemicals Production
- Chlor-Alkali for Pulp & Paper Production
- Chlor-Alkali for Chlorinated Intermediates
- Chlor-Alkali for Water Treatment
- Chlor-Alkali for Other Applications
- Chlor-Alkali for Glass Manufacturing
- Chlor-Alkali by Region
- North America Chlor-Alkali Market
- Latin America Chlor-Alkali Market
- Europe Chlor-Alkali Market
- Asia Pacific Chlor-Alkali Market
- Middle East & Africa Chlor-Alkali Market
- North America Chlor-Alkali Market
Competitive Landscape
The global market for Chlor-Alkali is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
- In March 2021, AGC Inc. passed a resolution to integrate and reorganize its 3 consolidated subsidiary companies, AGC Chemicals (Thailand) Co., Ltd, Vinythai Public Company Limited, and AGC Chemicals Vietnam Co., Ltd, and to form a new company that will promote the business development of Chlor-alkali products and services in Thailand and Cambodia, Laos, Myanmar, and Vietnam markets, with target completion by the first half of 2022
- In Oct 2019, Borregaard invested 207 million Norwegian kroner in a chloralkali plant at the Sarpsborg site in Norway; the project aims at modernizing existing equipment and is expected to near completion in 2022.
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Key players in the Chlor-Alkali Market
- Formosa Plastics Corporation
- Solvay SA
- AGC Inc.
- Dow Inc.
- Tronox Limited
- Tata Chemicals Limited
- Xinjiang Zhongtai Chemical Co. Ltd.
- Axiall Chemicals
- BorsodChem
- Olin Corporation
Key Takeaways from Chlor-Alkali Market Study
- Global Chlor-Alkali market to flourish 2.6x from 2022-2032
- Chlorine-based Chlor-Alkali to be a top-selling category, capturing more than 50% market and flourishing at a 5.3% CAGR until 2032
- By application, Chlor-Alkali for the vinyl production to expand at a CAGR of 5.1%
- U.S to emerge as an opportunistic Chlor-Alkali market, documenting a 4.3% CAGR
- China to be the most opportunistic market, expected to be valued at US$ 26 Billion in 2032
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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