The global Chlor-Alkali market is forecast to grow at a rate of 5.2% in terms of value, from 2020 to reach USD 142.82 Billion by 2028, according to a new report by Reports and Data. The growth in end-use industries such as construction, automotive, food beverage, and pulp paper industries is propelling the demand for the market product.
The high demand for alumina has led to the booming alumina industries all across the globe, is expected to significantly impact the growth of the caustic soda, thus affecting the market.
The market is driven by high demand for chlorine and its derivative, particularly, from the petrochemical industry for the production of products such as Chloro-Methane/ HCFC/PTFE, PVC, Epichlorohydrin, Propylene Oxide/Glycol, Toluene diisocyanate (TDI), Polycarbonates, and methylene diphenyl diisocyanate (MDI), CaCl2, titanium oxide. Growth in population, rapid urbanization, and increasing disposable income are factors that are expected to create an upsurge in chloro-alkali market.
Asia Pacific can be seen to dominate the market. The market dominance of the region is attributed to the continuous expansion of the automobile, and construction industry along with increasing demand for soaps and detergents, which is supporting the growth of the market in this region. In December 2019, Tata Chemicals had performed total acquisition of Tata Chem (Soda Ash) from Andover Group. Under this acquisition, Tata Chemicals has acquired the remaining 25% of Tata Chem (Soda Ash). Thus, such initiatives by the market player have not only helped it in increasing its ownership to 100% in Tata Chemicals (Soda Ash) Partners but it also positively impact the overall growth of the market.
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Top Players in the Global Chlor-Alkali Market:
Dow Chemicals, AkzoNobel NV, Solvay Chemicals, Tata Chemicals Limited, Formosa Plastic Corporation, Tronox, Hanwha Chemical Corporation, Nirma Limited, Tosoh Corporation, and Occidental Petroleum Corporation.
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Market segmentation based on Product Type Outlook:
- Caustic Soda
- Soda Ash
Process Systems Outlook:
- Membrane Cell
- Diaphragm Cell
- Mercury Cell
- Organic Chemicals
- Food Processing
- Paper and Pulp
- Isocyanates Oxygenates
- Water Treatment
- Soaps and Detergents
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Chlor-Alkali market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Chlor-Alkali market?
- Which regional market is expected to lead in terms of revenue share in the global Chlor-Alkali market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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