Global Chlor-Alkali Market to Surpass $ 100 Billion by 2024
Rapidly
growing chemicals industry in developing markets and extensive growth in end
user industries to boost global chlor-alkali market through 2024
According to TechSci
Research report, “Global Chlor Alkali Market
By Form, By Technology, By Product Type, By Application, By Region,
Competition, Forecast & Opportunities, 2024”, global market for chlor-alkali is projected to reach
$ 104 billion by 2024, on account of extensive growth in end user industries
and existing production facilities. However, energy-intensive operations as
well as adverse effects of chlor-alkali on the environment are anticipated to emerge
as major challenges for market players during the forecast period. Chlor-alkali
is defined as the scientific procedures utilized for manufacturing caustic
soda, chlorine, and other sodium and chlorine-based derivatives or products
such as chlorinated paraffin, bleaching powder, hydrochloric acid, sodium
hypochlorite and hydrogen gas. The procedure includes the electrolysis of brine
solution ensuring the production of these products.
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Based on product
type, the market has been segmented into chlorine, caustic soda, soda ash, HCl,
hydrogen and others. Of these categories, caustic soda has a broad range of
applications in various end use industries like organic & inorganic
chemicals, soaps & detergents, alumina refining, water treatment and food
and pulp & paper. However, some of the key challenges for global caustic
soda manufacturers include high-energy costs and strict environmental
regulations.
Based on application,
the market has been categorized into soaps & detergents, vinyl,
agrochemicals, alumina, glass, food, pulp & paper, EDC/PVC, water treatment
and others. Among these, EDC/PVC, glass, and food and pulp & paper are the
largest applications of chlorine, soda ash and caustic soda, respectively,
which are driving the overall chlor-alkali market. Moreover, applications like isocyanates,
glass and textiles are the fastest-growing applications for chlorine, soda ash
and caustic soda, respectively. High demand for isocyanates in the manufacturing
of polyurethane plastics, elastomers and varnishes is driving the market for
chlorine.
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“Asia-Pacific accounted for the largest market share in 2018 and is
anticipated to register the highest growth rate in coming years, on account of
high demand from developing countries in the region. Backed by the availability
of raw materials and cost-effective labor, the region would continue to
maintain its leading position in global chlor-alkali market in coming years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global
Chlor-Alkali Market By Form, By Technology, By Product Type, By Application, By
Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global chlor-alkali market
and provides statistics and information on market structure, size, share and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the global
chlor-alkali market.
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