Luton, Bedfordshire, United Kingdom, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Chlor Alkali Market.
The global Chlor alkali market is expected to be worth USD 63.2 billion in 2021, with a CAGR of 4.35% over the forecast period. By 2029, it is expected to be worth USD 88.85 billion.
Chlor Alkali Market Overview
Chlor-alkali is a chemical compound formed by the electrolysis of brine that combines chlorine and alkali. Sodium hydroxide, muriatic acid, and potassium hydroxide are the most common alkali chemicals. The mercury cell process, diaphragm cell process, and membrane cell process are the three methods used to produce chlor-alkali. Chlorine gas, soda ash, and caustic soda are the most common chlor-alkali products on the market.
Increased consumption of PVC, the third largest plastic in terms of production and consumption where chlorine is used, is also expected to drive demand for Chlor-alkali during the forecast period. Water treatment and glass manufacturing are also important applications for chlor-alkali producers.
Furthermore, rising alumina demand from the automotive industry is expected to drive demand for Chlor Alkali during the forecast period. Other sectors experiencing demand growth include pulp and paper, organic and inorganic chemicals, detergent, soap, and so on.
Chlor-alkali is used in a variety of applications, including organic chemicals, the glass and paper industries, textiles, water treatment, and construction.
Rapid urbanization, rising population, and disposable income in developed and developing economies are thought to be key factors driving the global chlor-alkali market. The global chlor-alkali market is expected to be driven by numerous applications and demands from the major end-user industry.
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Drivers
- Widespread Use of Caustic Soda to Improve Market Growth Prospects
Caustic soda is an inexpensive and widely used strong alkali. It is widely used in the paper and pulp industries, as well as textiles, soap and detergents, aluminum, organic and inorganic chemicals, and other industries. Its primary application is water treatment to prevent water and air pollution. The burgeoning textile industry adds to the demand for caustic soda.
- Rising Vinyl Polymer Demand to Support Chlor Alkali Market Growth
Chlorine is widely used in the production of vinyl. Chlorine is used to produce a variety of downstream chemicals, including polyvinyl chloride (PVC). Furthermore, PVC applications in various end-use industries are steadily increasing, implying that lucrative growth opportunities will emerge in the coming years.
Restraints
- Environmental regulations will stifle market growth.
Because of growing environmental concerns, several governments have imposed strict regulations, which are likely to stifle market growth. Chlor-alkali employs asbestos and mercury, both of which have negative environmental consequences.
Opportunities
- The Use of Chlor-Alkali Products in Water Treatment Will Increase Market Opportunities
Chlor-alkali products such as chlorine, caustic soda, and soda ash have primary applications in water treatment, lithium-ion batteries, and alumina. Chlorine is used in the chlorination process to improve water quality. Depending on the quality of the water, 1-16 mg/L of chlorine is added to it. The presence of parasites, bacteria, and viruses in water is eliminated by the addition of chlorine.
Chlor-Alkali Market: Segmentation
By Product
- Chlorine
Chlorine is most commonly used to sterilize drinking water and as a pool disinfectant. The majority of chlorine produced is used in the chemical industry to make other products. The PVC industry is the largest user of chlorine. The Chlorine segment holds the largest market share and is expected to grow at a 3.7% CAGR during the forecast period.
- Caustic Soda
Caustic soda, also known as sodium hydroxide, is one of the most affordable and widely used alkalis. It can react with a variety of acids, metals, and metallic oxides. Sodium hydroxide is a raw material for a variety of organic chemicals, including epoxypropane (propylene oxide), which is used to make polyurethanes. Other inorganic chemicals, such as paints, glass, and ceramics, as well as those used in the production of fuel cells and cosmetics, benefit from the use of caustic soda as a chemical reagent. The second largest segment is Caustic Soda.
- Soda Ash
Soda ash is used in a variety of chemical reactions due to its highly soluble properties. It is primarily used as an ingredient in the dye and colorant industries. It is also used in the production of fertilizers and synthetic detergents. In fact, it is rapidly replacing phosphates, which were previously used in household detergents.
By Production Process
- Membrane Cell
The Membrane Cell segment holds the largest market share and is expected to grow at a 3.6% CAGR during the forecast period. The phasing out of mercury cells was the primary driver that led to the widespread adoption of membrane cells in Europe. Membrane cell technology is used in the primary production capacity of caustic soda around the world.
- Diaphragm Cell
The Diaphragm Cell segment is the world's second most popular process for producing caustic soda. It uses little energy, and diluted caustic brine exits the cell. This process yields a caustic soda concentration of 50% by weight, and the excess salt is precipitated and filtered through the evaporation process for recycling.
- Others
By Application
- Pulp & Paper
- Organic Chemical
- Inorganic Chemical
- Soap & Detergent
- Alumina
- Textile
- Food Processing
- Isocyanates & oxygenates
- EDC/PVC
- Others
Organic Chemicals have the largest market share and are expected to grow at a 3.6% CAGR during the forecast period. Many inorganic compounds, including titanium dioxide and hydrogen chloride, are produced using chlorine.
The fastest-growing segments are soaps and detergents. Chlorine is also used in laundry detergents, which can be general or light-duty. Liquid chlorine bleach (usually in a sodium hypochlorite solution) can disinfect and deodorize fabrics by whitening and brightening them and removing stubborn stains.
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Regional Insights
Asia-Pacific has the highest market share and is expected to grow at a 3.9% CAGR during the forecast period. China has the world's largest textile sector in terms of production and exports.
China is also a major producer of chemicals, accounting for a sizable portion of global chemical output. The country is responsible for half of the global chemical market's growth. In comparison to the rest of the world, China's chemical market is growing at a rate of 4 to 5% per year. This industry's demand for chlor-alkali is expected to rise throughout the forecast period due to rising global demand for various chemicals.
Europe is the world's second-largest continent. During the forecast period, it is expected to grow at a CAGR of 2.4%. The textile and clothing industry is Germany's second-largest consumer goods industry. The rising demand for textiles is expected to propel the market in this region significantly.
North America is the third-largest region in the world. The chemical manufacturing industry in the United States is well-established, with top chemical product manufacturers such as Dow, DuPont, PPG Industries Inc., Huntsman Corporation, and Eastman Chemical, among others, having roots in the country.
One of the fastest-growing markets is the Middle East and Africa. The region is a net exporter of chlor alkali products, and the region's improving economic conditions are expected to boost consumption in the coming years. South America commands the smallest market share. Over the forecast period, Brazil, Mexico, and Argentina are expected to drive regional demand.
Key Players
The prominent players in the global chlor-alkali chemical market are ANWIL SA (PKN ORLEN SA), BorsodChem (Wanhua Chemical Group Co. Ltd), Ciner Resources Corporation, Covestro AG, Dow, Ercros SA, Formosa Plastics Corporation, Genesis Energy LP, Hanwha Solutions/Chemical Corporation, INOVYN (INEOS), Kemira, Kem One, MicroBio Ireland Limited, NIRMA, Nouryon, Occidental Petroleum Corporation, Olin Corporation, PCC Rokita SA (PCC SE), Shandong Haihua Group Co. Ltd, Spolchemie, Tata Chemicals Limited, Tosoh Corporation, Vinnolit GmbH & Co. KG (Westlake Chemical Corporation), Vynova Group,AGC and others
- Oct. 3, 2022, Olin Corporation announced that it expects to cease methylene chloride and chloroform production at its Stade, Germany facility by the third quarter of 2023. Olin will continue to produce both products at its Freeport, Texas facility.
- In July 2022, Olin Corporation and ASHTA Chemicals, Inc. (US) signed a contract for the purchase and sale of chlorine generated at ASHTA's US facility in Ohio.
● May 6, 2022: AGC to Expand Capacity of Chlor-Alkali Business in Thailand
(We offer 15% free coutomization on the report covering additional 3 counteries or 3 companies in the reports)
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