ROCKVILLE, M.D., March 09, 2022 (GLOBE NEWSWIRE) -- As per latest Fact.MR analysis, the global chlor-alkali market is estimated to value US$ 84 Bn in 2021. With growing demand for chlor-alkali products in chemical industry, the market is set to register a CAGR of 5.4% between 2021 and 2031, surpassing a valuation of US$ 143 Bn by 2031.
The demand for Chlor-Alkali is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 84 Bn by the end of 2021.
A dip in the global chemical manufacturing industry throughout 2020 amid the COVID-19 pandemic induced a significant downfall in the global market for chlor-alkali derivatives. For instance, the European Union reported a nearly 2% decline in chemical production in 2020. However, with the easing of restrictions, global manufacturing operations have resumed since 2021, retaining positive growth outlook for the market.
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Furthermore, manufacturing technologies have changed track owing to a global rise in mercury pollution levels. This will create a huge impact across the developed economies of Europe and North America and coax key players to adopt sustainable manufacturing practices in the chlor-alkali market.
Which End Use Industry is Boosting Sales of Chlor-Alkali in North America?
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 for the region. Thus, new and modern facilities will drive higher utilization and increase profitability as North America is expected to possess nearly 35% of market share through 2031.
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Key Segments Covered in the Chlor-Alkali Industry Survey
Product
- Chlorine-based Chlor-Alkali
- Caustic Soda-based Chlor Alkali
- Soda Ash-based Chlor-Alkali
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
Competitive Landscape
Manufacturers are investing heavily toward expansion of their production facilities to meet increasing demand for chlor-alkali derived products across the globe. The global chlor-alkali industry, characteristically, is moving towards consolidation.
- Prominent players are enhancing their distribution network by acquiring regional and local players. Companies are focusing on increasing their business footprints through continuous capacity expansions and acquisitions. These expansions are expected to surge the demand for chlor-alkali across the globe.
- In Feb 2019, Aditya Birla Group firm, Grasim Industries, has inked a pact to acquire the chlor-alkali business of KPR Industries.
- In April 2018- Kemira announced an investment of USD 58.5 Million to expand the manufacturing capacity of chlor-alkali at its Finland based plant
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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
Key Takeaways from the Market Study
- By product, chlorine to accumulate more than 50% of market share for chlor-alkali market in the forecast period.
- Chlor-alkali products for vinyl production to surge at a CAGR of 4% through 2031
- North America expected to possess nearly 35% of market share through the assessment period 2021-2031
- Asia expected to accumulate more than 40% of market share for chlor-alkali
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