Jul 9, 2020 10:44 PM ET
iCrowd Newswire – Jul 9, 2020
Chlor-Alkali is a process of manufacturing chlorine and its derivatives. Caustic soda, chlorine, and soda ash are the main products derived from the process and are further used in plastics, chemicals, household products, and others. Global Chlor-Alkali Market Report by Market Research Future (MRFR) takes a deep look at drivers, challenges, threats, and trends and new applications and end-users for the period of 2019 to 2025 (forecast period). The sudden outbreak of the COVID-19 pandemic and its impact on the industry as well as top to bottom approach has been used for arriving at the market valuation.
Tosoh Corporation, Olin Corporation, Tronox Limited, Akzo Nobel NV, Solvay SA, Tata Chemicals Ltd, Xinjiang Zhon, Covestro AG, Axiall Corporation, and Bayer AG are key players of the Global Chlor-Alkali Market.
Global Chlor-Alkali Market Size is expected to reach a staggering valuation of USD 110 billion by 2025. It can score a CAGR of 5% over the forecast period to reach the benchmark.
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The huge demand for chlorine and its derivatives from the petrochemical industry can benefit the market greatly. Daily use consumer products are likely to trigger the need for the Chlor-Alkali process. Moreover, rapid urbanization, burgeoning population, and large disposable income levels are other growth drivers of the market. End-use industries of alumina, food & beverages, pulp & paper, construction, and automotive are predicted to induce heavy demand from the market. Disinfection of surfaces, clothes, and others during the COVID-19 pandemic has triggered the demand for chlorine.
Efforts to lower the mercury levels emitted during the Chlor-Alkali process are likely to favor the market greatly. Diaphragm and membrane processes have culminated in minor environmental risks. But the use of sodium-ion batteries in the electrolysis process and abundance of sodium can offer new growth avenues for the market.
But the chemical emissions caused from the process can be detrimental to the market growth in the coming years.
Global Chlor-Alkali Market has been segmented based on Product Type and Application.
On the basis of Product Type, Global Chlor-Alkali Market has been categorized into chlorine, caustic soda, and soda ash.
By Application, Global Chlor-Alkali Market has been segmented into soaps & detergents, paper & pulp, organic chemicals, water treatment, food processing, metallurgy, isocyanates & oxygenates, EDC/PVC, textiles, and others.
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Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA) are regions covered in the Global Chlor-Alkali Market Report.
APAC dominated the Global Chlor-Alkali Market in 2018 with more than 50% market share. Increasing demand for PVC and isocyanates from construction and automotive industries are driving the chlorine demand. Rising aluminum production and growing paper and pulp industry across Malaysia, Indonesia, China, and India are expected to drive the growth of the market during the forecast period. The Chinese market is expected to face a decline in demand due to the shutdown of Chlor-Alkali production plants. Logistical constraints caused by regulations enforced by governments to contain the virus can also dampen the country’s market prospects.
North America is estimated to be the second largest for Chlor-Alkali products during the forecast period. The growth of the market is driven by increasing demand for isocyanates, PVC, water treatment chemicals, and others in the US. However, stringent environmental regulations and high energy consumption of the process can hamper the market growth during the forecast period.
Europe can command a large share of the market owing to huge demand for polyester and viscose yarns. Germany leads the European Chlor-Alkali Market followed by France, Spain, the UK, and Benelux. The markets in the Middle East & Africa and Latin America are expected to register steady growth during the forecast period.
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NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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