Dublin, July 07, 2023 (GLOBE NEWSWIRE) -- The "Global Chlor Alkali Market: Analysis By Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global chlor alkali market was valued at US$76.21 billion in 2022. The market value is expected to reach US$103.07 billion by 2028.
The chlor-alkali process is an industrial process that splits salt (NaCl, also called sodium chloride) and water (H2O) into chlorine (Cl2), caustic soda (NaOH, also called sodium hydroxide), and hydrogen (H2). Chlorine and caustic soda are commodity chemicals used in many applications.
The chlor-alkali industry is constantly developing new applications for its products. For instance, chlor-alkali products are used in the production of solar panels, which are becoming increasingly popular as a source of renewable energy.
The combination of increasing demand from various industries, the need for clean water treatment solutions, sustainable practices, and the expansion of emerging economies along with technological innovations is expected to contribute to the growth of the chlor alkali market. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2023-2028.
Market Dynamics:
- Growth Drivers: The global chlor alkali market growth is predicted to be supported by numerous growth drivers such as increasing chlorine production, rising demand for alumina, growing pharmaceutical industry, rapid urbanization, growing water treatment market, escalating paper and pulp market, and many other factors. Alumina refining requires the use of caustic soda as a key chemical reagent. Caustic soda is used to dissolve impurities and separate the desired alumina content from bauxite ore. As alumina production increases, the demand for caustic soda in the refining process also rises. This increased demand for caustic soda supports the growth of the chlor-alkali market.
- Challenges: However, the market growth would be negatively impacted by various challenges such as stringent environmental regulations, shift towards sustainable practices from traditional chlor alkali processes, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as growing demand for green chlor alkali products, technological advancements, expanding product diversification and value-added solutions, increasing demand for polyvinyl chloride (PVC), etc. The demand for green chlor alkali products drives market expansion as industries and consumers increasingly prioritize sustainable sourcing and production methods. This demand creates new market opportunities for chlor alkali manufacturers who can provide environmentally friendly and responsibly produced products. It opens up avenues for growth, especially in sectors where sustainability considerations play a significant role, such as water treatment, food processing, and renewable energy industries.
Impact Analysis of COVID-19 and Way Forward:
COVID-19 had negatively affected the growth of the global chlor alkali market in the initial period of 2020, but as the restrictions eased, the market growth rates came back to the trajectory. The pandemic has led to a decline in demand for many of the products that use chlor-alkali, such as polyvinyl chloride (PVC), paper, and textiles.
This has led to a decrease in the production and sales of chlor-alkali. In addition, the pandemic has disrupted supply chains, making it more difficult and expensive to obtain the raw materials needed to produce chlor-alkali. This has also contributed to the decline in the market. The market is expected to recover as the global economy recovers from the pandemic, and chlor-alkali producers are investing in new technologies and sustainability initiatives.
Competitive Landscape:
The global chlor alkali market is highly competitive and fragmented, with several key players operating on a global scale. The key players in the global chlor alkali market are:
- Solvay SA
- The Dow Chemical Company
- Olin Corporation
- Occidental Petroleum Corporation
- Tata Chemicals Limited
- Hanwha Chemical Group
- Tosoh Corporation
- Westlake Corporation
- SABIC
- The AGC Group
- Ineos Group (Inovyn)
- Formosa Plastics Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $80.14 Billion |
| Forecasted Market Value (USD) by 2028 | $103.07 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Chlor Alkali Market: An Analysis
3.1.1 Global Chlor Alkali Market: An Overview
3.1.2 Global Chlor Alkali Market by Value
3.1.3 Global Chlor Alkali Market by Type (Caustic Soda, Chlorine, Soda Ash, and Others)
3.1.4 Global Chlor Alkali Market by Region (North America, Europe, Asia Pacific, and Rest of the World)
3.2 Global Chlor Alkali Market: Type Analysis
3.2.1 Global Chlor Alkali Market by Type: An Overview
3.2.2 Global Caustic Soda Chlor Alkali Market by Value
3.2.3 Global Chlorine Chlor Alkali Market by Value
3.2.4 Global Chlorine Chlor Alkali Market by End-Use (EDC/PVC, C1/C2 & Aromatics, Chemical Inorganics, Water Treatment, Chlorinated Intermediates, Propylene Oxide, Isocyanate, Pulp and Paper, Chemical Organics, and Others)
3.2.5 Global Chlorine Chlor Alkali Market by Technologies (Membrane, Diaphragm, Mercury, and Others)
3.2.6 Global Soda Ash Chlor Alkali Market by Value
3.2.7 Global Others Chlor Alkali Market by Value
4. Regional Market Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Chlor Alkali Market
5.2 Post COVID-19 Impact on Global Chlor Alkali Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increasing Chlorine Production
6.1.2 Rising Demand For Alumina
6.1.3 Growing Pharmaceutical Industry
6.1.4 Rapid Urbanization
6.1.5 Growing Water Treatment Market
6.1.6 Escalating Paper and Pulp Market
6.2 Challenges
6.2.1 Stringent Environmental Regulations
6.2.2 Shift Towards Sustainable Practices from Traditional Chlor Alkali Processes
6.3 Market Trends
6.3.1 Growing Demand for Green Chlor Alkali Products
6.3.2 Technological Advancements
6.3.3 Expanding Product Diversification and Value-added Solutions
6.3.4 Increasing Demand for Polyvinyl Chloride (PVC)
7. Competitive Landscape
7.1 Global Chlor Alkali Market Players: Product Comparison
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6rclut
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