by The chlor-alkali market comprises of products including caustic soda, chlorine, and soda ash. Chlor-alkali products are extensively used in chemicals production, water treatment, soaps and detergents, paper and pulp, and alumina production. With the growing demand for chlorine from various end-use industries, the demand for chlor-alkali products is also increasing. Caustic soda finds widespread application in alumina production, soaps and detergents, paper and pulp, textiles, petrochemicals and other industrial applications. Chlorine is majorly used in PVC production which is then used to manufacture pipes, fittings, doors, and windows. The growing construction industry is thus augmenting the demand for PVC and in turn chlorine.
The global Chlor-Alkali Market is estimated to be valued at US$ 263,531.83 KT in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Growing demand for chlorine in chemical production
One of the major market trends fueling the growth of the chlor-alkali market is the growing demand for chlorine from the chemicals industry. Chlorine finds widespread application in the production of numerous chemicals such as ethylene dichloride (EDC), polyvinyl chloride (PVC), and propylene oxide. It is used as a precursor to produce several other commodity and fine chemicals. With the growing demand for chemicals from end-use industries such as construction, automotive, consumer goods, the demand for chlorine is also increasing. This in turn is propelling the growth of the global chlor-alkali market during the forecast period.
SWOT Analysis
Strength: The chlor-alkali market has widespread applications across many end-use industries such as chemical processing, water treatment, and pulp & paper making it a stable market.
Weakness: Strict environmental regulations regarding the emissions of mercury cell plants high capital investment requirement for setting up membrane cell plants.
Opportunity: Growing demand for caustic soda and chlorine from end-use industries due to industrialization is expected to drive market growth. Adoption of environment-friendly membrane cell technology can also offer new opportunities.
Threats: Fluctuations in raw material prices can impact production costs. Development of alternative technologies for chlorine and caustic soda production pose a threat.
Key Takeaways
The global Chlor-Alkali Market Share is expected to witness high growth over the forecast period.
Regional Analysis: Asia Pacific is currently the fastest growing and dominating region in the global chlor-alkali market. China dominates Asia Pacific’s chlor-alkali market due to presence of large caustic soda production capacity and significant growth of end-use industries in the country.
Key players operating in the chlor-alkali market are Teva Pharmaceutical Industries Ltd., AbbVie Inc, Pfizer Inc., Reddy’s Laboratories Ltd, Zydus Cadila, ReNetX Bio, Inc, InVivo Therapeutics Holdings, Lineage Cell Therapeutics, Inc, Kringle Pharma, Inc., Acorda Therapeutics, Inc., Bioaxone Biosciences, Inc, RespireRx Pharmaceuticals Inc., NervGen, Rising Pharmaceuticals, Inc, ScieGen Pharmaceuticals, Inc, MSN Laboratories Private Limited, and Lannett Co Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
