PUBLISHER: The Business Research Company | PRODUCT CODE: 1391093
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391093
“Chlor-Alkali Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chlor-alkali market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chlor-alkali? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The chlor-alkali market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The term 'chlor-alkali' refers to the method employed for the production of chlorine and sodium hydroxide (caustic soda), both fundamental chemicals widely used in various industries. Chlor-alkali encompasses a group of chemicals, including chlorine, hydrogen, and sodium hydroxide, produced through the electrolysis of saltwater. Chlorine, a major product of this process, is essential in the manufacturing of bleaching agents, solvents, construction materials, and insecticides.
The primary types of products in the chlor-alkali category include chlorine-based chlor-alkali, caustic soda-based chlor-alkali, soda ash-based chlor-alkali, and others. The membrane cell process, utilizing brine and membrane cells with charged electrodes, is a common method for chlor-alkali production. Different production processes, such as membrane cells, diaphragm cells, and others, find applications across various industries, including pulp and paper, organic chemicals, inorganic chemicals, soap and detergent, alumina, textiles, and more.
The Chlor-Alkali Market Research Report is one of a series of new reports from The Business Research Company that provides chlor-alkali market statistics, including chlor-alkali industry global market size, regional shares, competitors with a chlor-alkali market share, detailed chlor-alkali market segments, market trends and opportunities, and any further data you may need to thrive in the chlor-alkali industry. This chlor-alkali market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chlor-alkali market size has grown strongly in recent years. It will grow from $79.98 billion in 2023 to $86.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historic period can be attributed to several factors, including the growth in chemical manufacturing, increased demand for water treatment, the expansion of the pulp and paper industry, increased pharmaceutical production, and a rise in demand for food processing.
The chlor-alkali market size is expected to see strong growth in the next few years. It will grow to $117.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to factors such as the increasing adoption of sustainable chemistry practices, the growth of clean energy production, global industrial expansion, the emphasis on green chemical manufacturing, and the rising demand for water quality management. Major trends expected in the forecast period include advancements in electrolysis technologies, the development of innovative water treatment solutions, the application of specialty chemicals, innovations in electrolyzers, and ongoing innovation in the chemical industry.
The anticipated growth of the global chemical industry is poised to drive the expansion of the chlor-alkali market in the foreseeable future. The chemical sector plays a pivotal role in producing a wide array of industrial chemicals, serving as a fundamental source of building blocks and raw materials for various industries, including textiles, paint, paper, soap and detergent, pharmaceuticals, and agriculture. Within the chemical industry, chlor-alkali is employed in an industrial process to generate key chemicals like chlorine, hydrogen, and sodium hydroxide. A notable indicator of this trend is highlighted by BASF SE, a Germany-based chemicals company, reporting a significant 4.4% increase in global chemical production in 2021, rebounding from a negative growth rate of 0.4% in 2020. This resurgence in chemical industry growth substantiates the driving force behind the expansion of the chlor-alkali market.
The rising occurrences of water contamination are anticipated to fuel the growth of the chlor-alkali market. Water contamination, characterized by the presence of harmful substances or pollutants in water sources, necessitates effective treatment for safe consumption and use. Chlor-alkali chemicals, particularly chlorine, are instrumental in water treatment processes, serving to disinfect and eliminate contaminants to ensure the safety of drinking water. Illustratively, as per the Environment Agency, a UK-based non-departmental public body, there has been a notable increase in reported instances related to sewage and water supply infrastructure. In 2022, these instances reached 2,026, up from 1,883 in 2021. The surge in pollution incidents and concerns about water supply assets underscore the vital role of chlor-alkali in addressing water contamination challenges and driving the market's growth.
In the chlor-alkali market, a discernible trend involves major companies engaging in strategic partnerships and collaborations. This strategic approach is motivated by the abundance of chlor-alkali firms in the industry, aiming to bolster their market leadership and explore synergies with key industry players. A noteworthy example is the collaboration between Abu Dhabi National Oil Company (ADNOC), a UAE-based oil company, and Reliance Industries Limited, an India-based conglomerate. Together, they established a strategic partnership to participate in a new world-scale production facility for ethylene dichloride, chlor-alkali, and polyvinyl chloride in Abu Dhabi. This collaborative venture leverages the combined strengths of both entities as global industrial leaders, reflecting a trend towards strategic collaborations to navigate and capitalize on market dynamics.
Major companies in the chlor-alkali market are strategically focusing on the development of certified renewable caustic soda as part of their efforts to gain a competitive advantage. The production of renewable caustic soda involves the use of sustainable energy sources, resulting in a significantly reduced environmental impact compared to traditional caustic soda manufacturing methods. For example, in March 2021, Vynova Group, a Belgium-based PVC and chlor-alkali company, introduced the world's first ISCC PLUS-certified renewable caustic soda. This innovative product is manufactured using sustainable energy sources, leading to a substantially lower carbon footprint compared to conventional caustic soda production. The certification under the ISCC PLUS framework involves a mass balance system that employs a proportional methodology.
In a separate development, in April 2021, Bodal Chemicals Limited, an India-based chemical manufacturing company, acquired Mawana Sugar Limited's chlor-alkali plant, Siel Chemical Complex (SCC), for $16.78 million. This strategic acquisition is expected to enable Bodal Chemicals to diversify its existing chemical product line by introducing new items. Mawana Sugar Limited is known as an India-based manufacturer of sugar and related products.
Major companies operating in the chlor-alkali market include AGC Inc., Tosoh Corporation, Solvay SA, The Dow Chemical Company, Tata Chemicals Ltd., Olin Corporation, Westlake Chemical Corporation, Xinjiang Zhongtai Chemical Co. Ltd., Occidental Petroleum Corporation, Hanwha Group, INOVYN ChlorVinyls Limited, Wanhua-Borsodchem, Formosa Plastics Corporation, Tronox Holdings PLC, Bayer AG, Axiall Corporation, BASF SE, Akzo Nobel N V, FMC Corporation, Covestro AG, Shin-Etsu Chemical Co., Ltd., PPG Industries, Saudi Arabias Basic Industries Corporation, Reliance Industries Limited, Grasim Industries, Gujarat Alkalies and Chemicals Limited, Nirma Limited, China National Chemical Corporation, Shandong Dongyue Group, Ciech S.A., The Aditya Birla Group, Inner Mongolia Junzheng Energy & Chemical Group, China National Petroleum Corporation
Asia-Pacific was the largest region in the chlor-alkali market in 2023. North America was the second-largest region in the chlor-alkali market share. The regions covered in the chlor-alkali market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the chlor-alkali market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The chlor-alkali market consists of sales of chlor-alkali products, including hydrogen peroxide and sodium hypochlorite. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.