USD 63.2 billion
Report ID: SQMIG15A2308 | Region: Global | Published Date: April, 2023 | Pages: 238 | Tables: 63 | Figures: 75
Global Chlor-Alkali Market size was valued at USD 63.2 billion in 2021 and is poised to grow from USD 65.79 billion in 2022 to USD 94.45 billion by 2030, growing at a CAGR of 4.1% in the forecast period (2023-2030).
Over the projected period, it is anticipated that the global chlor alkali market would expand. Chlor-alkali refers to the scientific processes used to produce caustic soda, bleaching powder, sodium hypochlorite, hydrogen gas, chlorinated paraffin, and other sodium and chlorine-based derivatives and products. The process involves electrolyzing sodium chloride solution (brine solution), which ensures the production of the aforementioned products. The main goods produced by the chlor alkali industry are soda ash, chlorine gas, and caustic soda.
Rising demand from the building and vehicle industries, as well as increased use in the pulp, food, and paper industries, are some of the main causes. Manufacturers are setting up facilities to produce related items efficiently as chlorine manufacturing technology continues to advance and industrialise. To minimise environmental damage, almost all companies worldwide are refocusing their efforts on creating chlor alkali compounds using membrane cell technology. Over the projected period, significant investments are predicted to be made in the global alumina business, which is currently booming.
Since caustic soda is a primary raw material in the process of refining alumina, growth in the alumina market is anticipated to drive caustic soda demand throughout the projected period, hence benefiting the chlor-alkali chemical sector in the long run. The procedure's influence on the environment is the industry's first difficulty. Emissions of mercury and carbon have raised concerns. However, because of how energy-intensive the technique is, the increased energy consumption is anticipated to limit the expansion.
The initial division of the chlor alkali market is done according to the products caustic soda and soda ash. The functionality of the product is another segmentation factor. For soda ash, polyvinyl chloride, which also contains organic compounds, serves as chlorine's main use. The glass industry is its primary market, whereas Caustic soda mostly serves the inorganic, organic, and paper industries.
US Chlor-Alkali Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 63.2 billion
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The global Chlor-Alkali market segmentation is based on product, process, and region. Based on product the Chlor-Alkali Market is segmented into caustic soda, soda ash, and chlorine. Based on process the Chlor-Alkali Market is segmented into mercury cell process, diaphragm cell process, and membrane cell process. Based on Region the global Chlor-Alkali market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Chlor-Alkali Market Analysis by Product
In 2021, the chlorine segment held the largest chlor-alkali market share. There are numerous industrial applications for chlorine, along with the manufacture of polymers like PVC, solvents like tetrachloromethane, chloroform, and dichloromethane, as well as bulk materials like bleach paper goods. In addition, it is utilized in the production of paints, textile colors, antiseptics, and pharmaceuticals. Clinical uses of chlorine in medical institutions also include decontaminating medical waste before disposal, disinfecting apparatus, cleaning environmental surfaces, decontaminating local blood spills, disinfecting clothes, and hyper chlorinating drinking water. Additionally, it is expected that the pandemic would cause an excessive increase in the supply of chlorine in water treatment in the generations to follow.
Chlor-Alkali Market Analysis by Process
In 2021, membrane cell processes segment represents a sizable portion of the market owing to its eco-friendly properties. The method is widely applied in the construction of new plants and is common since it uses less energy during production. In comparison to the 2,400–2,700 kW per metric tonne needed for chlorine synthesis, the membrane cell method uses roughly 2,250–2,500 kW per metric tonne of energy. Additionally, this type of production unit requires a relatively low initial expenditure to set up. Brine and membrane cells are used in the membrane cell process to produce chlor alkali using charged electrodes.
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In 2021, Asia-Pacific held the largest share of the global Chlor-Alkali market, and throughout the projected period, it is predicted that the Asia Pacific will continue to hold a prominent position. Construction operations for domestic, industrial, and commercial uses have increased dramatically as a result of the rapid industrial development and urbanization that have taken place in several countries, including China and India. As a result, there has been a noticeable increase in the usage of PVC and glass, both of which make substantial use of Chlor-Alkali. The Asia Pacific Chlor-Alkali market is consequently expanding as a result of this cause.
The 2nd highest chlor-alkali market share was owned by North America, followed by Europe. Several of the world's biggest exporters of items containing Chlor-Alkali are North America. Well over the coming years, the construction sector's recovery is projected to increase PVC production and chlorine consumption.
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Chlor-Alkali Market Driver
Chlor-Alkali Market Restraint
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Leading Chlor-Alkali suppliers rely on alliances, mergers, purchases, and the introduction of fresh software to survive in the international market. The key goal of major industry participants is continuous innovation to maintain a flawless relationship with customers. For instance, in March 2021, the three Chlor-Alkali corporations in Thailand and the CLMV market will be combined and reorganized by AGC Inc, a manufacturing company with headquarters in Tokyo.
Chlor-Alkali Market Top Players Company Profiles
Chlor-Alkali Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, the chlorine type held the largest market share. In 2021, membrane cell processes represented a sizable portion of the market. In 2021, Asia-Pacific held the largest share of the global Chlor-Alkali market, and throughout the projected period, it is predicted that the Asia Pacific will continue to hold a prominent position.
|Market size value in 2021||USD 63.2 billion|
|Market size value in 2030||USD 94.45 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Chlor-Alkali Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chlor-Alkali Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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