USA, Rockville MD, 22 Jul. 2022 (GLOBE NEWSWIRE) — According to a recent report by Fact.MR, the global chlor-alkali market is poised to grow at a CAGR of 5.4% from 2022 to 2032. This forecast period, the industry is expected to generate a dollar opportunity worth US$88.5 billion in 2022, which is expected to close at a valuation of US$150 billion. The increasing emphasis on the sustainable manufacturing process and the increase applications Chlor-alkali derivatives act as prime movers across the world.
From 2015 to 2021, the chlor-alkali market grew at a CAGR of 5.3%, closing at a value of US$150 billion. As of 2022, the industry is expected to reach US$88.5 billion. Prospects have increased after the increasing applications of water treatment across the world.
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Manufacturers are all set to adopt PFAS (polyfluoroalkyl substances) coated membrane technology in the near future and avoid the use of chlor-alkali in chemical industries and other end uses to reduce adverse effects on the environment. .
Global chemical industry drives adoption of chlor-alkali process
Chloralkali by-products: Sodium hydroxide, chlorine and sodium carbonate play a key role in the production of raw materials needed by the bulk chemical industry. These chemicals are widely used in plastic, alumina, paper and pulp and other major industries.
According to the European Chemical Industry Council, global chemical industry production grew by 3% in 2021 and 2% by 2022. In addition, sales in 2019 were estimated to be 4.1 billion US dollars, with sales expected to peak at nearly US $7.5 trillion by 2032. Attributed to these figures, the demand for the chlor-alkali process to generate useful chemicals is set to increase by significantly.
Increased focus on sustainable manufacturing to accelerate chlor-alkali sales
Recent analysis by Fact.MR reveals that North America is expected to hold nearly 35% of the market share through 2032. The chlor-alkali market values nearly US$17 billion in 2022 and is expected to generate a dollar opportunity of US$26 billion through 2032. , following a CAGR of 4.3%. Manufacturing technology has strategically shifted from the membrane and mercury cell system to the membrane cell process globally, due to increasing levels of mercury pollution. Consequently, industries are moving towards more sustainable manufacturing practices, driving the demand for chlor-alkali derivatives.
Moreover, the presence of chemical industries in the United States stimulates the growth of chlor-alkali in the region. Thus, new and modern installations will result in higher utilization and increase profitability.
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Key segments covered by the Chlor-alkali Industry survey
- Chlor-alkali by product
- Chlor-alkali based on chlorine
- Caustic soda-based alkaline chlorine
- Alkali chlorine based on sodium carbonate
- Chlor-alkali by application
- Chlor-alkali for glass making
- Chlor-alkali for vinyl production
- Chlor-alkali for the production of organic chemicals
- Chlor-alkali for the production of inorganic chemicals
- Chlor-alkali for pulp and paper production
- Chloralkali for chlorinated intermediates
- Chlor-alkali for water treatment
- Chlor-alkali for other applications
- Chlor-alkali by region
- North America Chloralkali Market
- Chlor-alkali market in Latin America
- European chlor-alkali market
- Asia Pacific Chloralkali Market
- Chlor-alkali market in the Middle East and Africa
The global chlor-alkali market is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to customers. In addition, companies are looking for specialized service providers, offering tailor-made solutions to meet their business objectives. Also, vendors are likely to leverage product upgrading and differentiation to gain advantage over other competitors in the market.
- In March 2021, AGC Inc. passed a resolution to integrate and reorganize its 3 consolidated subsidiaries, AGC Chemicals (Thailand) Co., Ltd, Vinythai Public Company Limited and AGC Chemicals Vietnam Co., Ltd, and to form a new company that will promote the commercial development of chlor-alkali products and services in the markets of Thailand and Cambodia, Laos, Myanmar and Vietnam, with a goal of completion by the first half of 2022
- In October 2019, Borregaard invested NOK 207 million in a chloralkali plant at the Sarpsborg site in Norway; the project aims to modernize existing equipment and is expected to be completed in 2022.
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The key players in the Chlor-alkali Market
- Formosa Plastics Corporation
- Solvay S.A.
- AGC Inc.
- Dow Inc.
- Tronox Limited
- Tata Chemicals Limited
- Xinjiang Zhongtai Chemical Co.Ltd.
- Axial Chemicals
- Olin Company
Main takeaways from Chlor-alkali Market research
- Global chlor-alkali market expected to boom 2.6 times from 2022 to 2032
- Chlorine-based chlor-alkali will be one of the top-selling categories, capturing over 50% of the market and thriving at a CAGR of 5.3% through 2032
- By Application, Chlor-Alkali for Vinyl Production Grows at a CAGR of 5.1%
- The United States will emerge as an opportunistic chlor-alkali market, documenting a CAGR of 4.3%
- China is the most opportunistic market, expected to be valued at US$26 billion in 2032
Fact.MR’s expertise in the field Chemistry and Materials Division
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