Download PDF Brochure https://bit.ly/37MRykMThe global Chlor-Alkali Market size is estimated to be USD 63.2 billion in 2021 and is projected to ...Download PDF Brochure https://bit.ly/37MRykM
The global Chlor-Alkali Market size is estimated to be USD 63.2 billion in 2021 and is projected to reach USD 77.4 billion by 2026, at a CAGR of 4.1% between 2021 and 2026. The rising demand for organic and inorganic chemicals and increasing manufacturing sector output is leading to the growth of the APAC chlor-alkali market. Moreover, increasing investments for the expansion of production facilities in China, India, and ASEAN countries are expected to, in turn, drive demand in the chlor-alkali market.
+ Driver: Steady Growth of Chemical industry across the globe to drive demand
Chlor-alkali products such as chlorine, caustic soda, and soda ash play a vital role in the chemical industry. These products are necessary raw materials in major bulk chemical industries and utilized in various industrial and manufacturing value chains.
+ Restraints: Environmental impact of chlor-alkali products
Environmental impact of the chlor-alkali industry is one of the restraining factors for the market. As chlorine is highly toxic, its leakage and discharge in the environment are closely monitored.
+ Opportunity: Emerging countries offer significant growth opportunities
The growing industrialization in emerging economies such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina is expected to drive the chlor-alkali market during the next five years.
+ Challenges: Transportation and storage of chlorine
Chlorine is a highly toxic chemical which causes irritation in the respiratory system if inhaled. Exposure to concentrated amounts causes eye irritation, vomiting, coughing, choking sensation, and lung irritation.
+ In July 2021, Olin Corporation entered into an agreement with ASHTA Chemicals, Inc. (US) to buy and sell chlorine which is produced at ASHTA's Ohio facility in the US.
In January 2021, Formosa Plastic Corporation announced the expansion of production facilities based in the US, Taiwan, and China.
+ In December 2019, Tata Chemicals acquired 25% partnership interest in Tata Chemicals (Soda Ash) Partners Holdings from The Andover Group, Inc., a subsidiary of Owens-Illinois Inc. for USD 195 million. Through this, the company gained full ownership of Tata Chemicals (Soda Ash).
+ In November 2018, Tata Chemicals announced an investment worth USD 350 million for the de-bottlenecking of the Mithapur facility which is expected to help increase the production capacity by 150 KT soda ash and 400 KT salt and help reduce the carbon footprint.
+ In September 2018, AGC, Inc. planned to expand its chlor-alkali business in Thailand by increasing production capacity.
+ In September 2018, AGC, Inc. planned to expand the PVC capacity for P.T. Asahimas Chemical (Indonesia), one of its subsidiaries to 750,000 tons.
+ In February 2018, Westlake Chemical Corporation planned to expand the production capacities of chlor-alkali, PVC, and VCM at its facility in Germany and Louisiana, US.