Selbyville, Delaware , Aug. 21, 2023 (GLOBE NEWSWIRE) -- Chlor-Alkali Market size is expected to reach around USD 82 billion by 2032, as per a recent study by Global Market Insights Inc.
The increasing demand for chemicals across various industries, particularly water treatment and chemicals production, is driving the industry growth. The growing need for clean & safe water has led to significant developments in the chlorine production techniques, such as advancements in mercury cell process technology. There is increasing awareness of the harmful effects of untreated water that is prompting governments and industries to adopt advanced water treatment methods. This will boost the demand for chlorine-based disinfectants. Moreover, sectors like paper & pulp, pharmaceuticals, and textiles rely heavily on chlorine and other chlor-alkali products for their manufacturing processes. The growth of end-use industries in emerging economies, coupled with ongoing urbanization, will continue to fuel the expansion of the chlor-alkali market.
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Diverse application scope of chlorine to fuel market growth
The chlorine product segment is predicted to witness substantial growth through 2032 driven by the wider product usage in various industries and applications. Chlorine, being a versatile and essential chemical, finds extensive use in water treatment, disinfection, plastics production, and chemicals manufacturing. Its strong oxidizing properties make it a valuable component in bleach and other cleaning agents. It is also utilized for synthesis of a wide range of products, including PVC plastics, solvents, and agricultural chemicals. As a fundamental element within the chlor-alkali market, the chlorine product segment will continue to witness demand across multiple sectors.
High yield of diaphragm cell process to favor industry outlook
The chlor-alkali industry share from diaphragm cell process technology segment is anticipated to grow at a notable pace during 2023 and 2032. The process enables efficient and simultaneous production of chlorine gas and caustic soda while minimizing the risk of product contamination. It maintains strict separation of the anode and cathode compartments through a diaphragm facilitating higher yields of essential chemicals, while also addressing environmental concerns associated with older techniques. The historical significance of the diaphragm cell process, along with the contribution toward fostering innovation and sustainable practices is contributing to the segment share.
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Emphasis of waste reduction in Europe to influence market expansion
Europe chlor-alkali market size is predicted to grow at a robust pace over the forecast period due to the stringent environmental regulations in the region and commitment to sustainability. European countries have been at the forefront of adopting and implementing regulations aimed at reducing the environmental impact of industrial processes, including chlor-alkali production. The region's emphasis on reducing carbon emissions, minimizing waste generation, and phasing out harmful technologies has driven significant innovation in chlorine production methods and process technologies. The constant focus & funding for R&D to discover eco-friendly and socially responsible practices will shape the regional market outlook over 2023-2032.
The key players is the global chlor-alkali market are Occidental Petroleum Corporation, Westlake Chemical Corporation, Dow Inc., Tata Chemicals Limited, Wanhua-Borsodchem, Formosa Plastics Corporation, Solvay SA, Hanwha Solutions Corporation, Tosoh Corporation, Nirma Limited, AGC, Inc., Ciner Resources Corporation, Xinjiang Zhongtai Chemical Co., Ltd., and INOVYN. These companies are working on developing strategies like product launches, partnerships, mergers, and acquisitions to improve their market standing.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
