Worldwide Chlor-Alkali Industry to 2026 - Chlorine to Drive the Market Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 16, 2021--
The “Chlor-Alkali Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for chlor-alkali is expected to reach 288,961.55 kilo tons by 2026, growing at a CAGR of 3.11% during the forecast period (2021-2026).
- ANWIL SA (PKN ORLEN SA)
- BorsodChem (Wanhua Chemical Group Co. Ltd)
- Ciner Resources Corporation
- Covestro AG
- Ercros SA
- Formosa Plastics Corporation
- Genesis Energy LP
- Hanwha Solutions/Chemical Corporation
- INOVYN (INEOS)
- Kem One
- MicroBio Ireland Limited
- Occidental Petroleum Corporation
- Olin Corporation
- PCC Rokita SA (PCC SE)
- Shandong Haihua Group Co. Ltd
- Tata Chemicals Limited
- Tosoh Corporation
- Vynova Group
- Westlake Chemical Corporation
Key Market Trends
Chlorine to Drive the Market Growth
Chlorine occurs naturally but not in its elemental (gas) form (as Cl2). Chlorine and Caustic Soda/Sodium Hydroxide are produced by passing an electrical current through brine (common salt dissolved in water). This process is called Chlor-Alkali. The chlorine and sodium hydroxide produced in this process is widely used in the chemical industry. In chlorine production, the three raw materials used are salt, water, and electricity. Three products can come out: chlorine, caustic soda, and hydrogen.
Chlorine is one of the more abundant chemicals produced by industry and has a wide variety of industrial uses. Chlorine also has a multitude of industrial uses, including making bulk materials like bleached paper products; plastics, such as PVC and the solvents tetrachloromethane, chloroform, and dichloromethane. It is also used to make dyes, textiles, medicines, antiseptics, insecticides, and paints. Chlorine kills bacteria as it is a disinfectant. It is used to treat drinking water and swimming pool water. Another major use for chlorine is in organic chemistry.
It is used as an oxidising agent and in substitution reactions. 85% of pharmaceuticals use chlorine or its compounds at some stage in their manufacture. Additionally, clinical uses of chlorine in health-care facilities include hyper chlorination of potable water to prevent Legionella colonization, chlorination of water distribution systems used in hemodialysis centers, cleaning of environmental surfaces, disinfection of laundry, local use to decontaminate blood spills, disinfection of equipment, decontamination of medical waste prior to disposal, and dental therapy. Moreover, owing to the pandemic, the demand for chlorine in water treatment is expected to grow excessively in the forthcoming years.
China to Dominate the Global Market
In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year. However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to some extent and is expected to witness recovery in 2021.
The Chinese textile industry is the largest in the world, both in terms of production and exports. The textile industry in China is also booming with increasing investments and government support from the 13th Five Year Plan. Investment in the country’s textile industry has been increasing, owing to cheaper electricity rates, transportation subsidies, and lower raw cotton prices. In addition, through the Belt & Road initiative, the country saw a in-flow of huge investments, both domestic and foreign, mainly focusing on increasing production capacity in the country and further increase exports of textiles and apparel.
This, in turn, increased the demand for the chloralkali market. China is a hub for chemical processing, accounting for a major chunk of the chemicals produced, globally. The growth in the country makes up half of the growth of the global chemical market. The chemical market in China is growing at 4%-5% annually, compared to the ~3% growth of the Rest of the World. With the increasing demand for various chemicals, globally, the demand for chloralkali from this sector is projected to rise during the forecast period. There are numerous chemical plants lined up for construction within the period of next five years in the country. For instance, in July 2020, Nouryon announced its plans to construct a TBHP/TBA manufacturing plant in China, with an annual capacity of 35,000 ton of TBHP/TBA. The new hydroperoxide facility is expected to be completed in the second half of 2021. Hence, all such chemical plants lined for development are likely to significantly add to the demand in the market in the country over the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 High Demand for Caustic Soda and Its Derivatives
4.1.2 Growing Demand from the End-user Segments and Existing Production Facilities
4.2.1 Environmental Impact and Stringent Environmental Regulations
4.2.2 Detrimental Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.5 Import and Export Trends
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Chlor-alkali from the Emerging Markets
For more information about this report visit https://www.researchandmarkets.com/r/6kkvp3
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
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PUB: 07/16/2021 09:18 AM/DISC: 07/16/2021 09:18 AM