(MENAFN- P&S Intelligence) A number of factors, such as the increasing consumption of chlorine in water treatment applications, surging demand for polyvinyl chloride (PVC) from end-use industries, and presence of several global players, are expected to drive the growth of the chlorine market at a CAGR of 5.2% during the forecast period (2020–2030). According to P&S Intelligence, the market generated revenue of $36,845.0 million in 2019, and it is expected to reach $63,121.6 million by 2030.
One of the prime factors propelling the chlorine market is the surging consumption of the chemical for water treatment. This is due to its ability to kill waterborne germs, pathogens, and microbes, to make it safe for sanitation, drinking, and irrigation purposes. Further, developing countries are gathering knowledge on the adverse effects of consuming untreated water, which include waterborne diseases like typhoid, hepatitis A and E, and cholera. This chemical has the ability to prevent such diseases, which, in turn, drives its demand across the world.
Moreover, the surging demand for PVC is another key driving factor that boosts the growth of the chlorine market. The demand for PVC is increasing due to its large number of applications in several end-use industries, such as medical and construction, wherein it is used in making non-breakable containers, and piping and siding products, respectively. During the chlorination process for the manufacturing of PVC, chlorine is needed in high volumes to improve the thermal stability and melt viscosity of PVC products.
The application segment of the chlorine market is categorized into ethylene dichloride (EDC)/PVC, isocyanates & oxygenates, inorganic chemicals, chloromethanes, and solvents. Among these, the EDC/PVC category held the largest market share in 2019, and it is expected to witness the same trend in the coming years. This is ascribed to the high-volume usage of the compound in the chlorination process for the production of EDC/PVC. With the increasing requirement for EDC/PVC from several end-use industries, such as construction, automotive, medical, and electrical & electronics, the demand for chlorine is rising.
The end use segment of the chlorine market is classified into water treatment, plastics, pharmaceuticals, pesticides, and pulp & paper. Among these, the water treatment category is projected to record the highest CAGR during the forecast period, to hold the largest market share in the coming years. This can be attributed to the growing concerns regarding waterborne illnesses, which have stirred the world’s consciousness about using safe water. Chlorine is used in high volumes to treat for several purposes, by killing unwanted pathogens.
Geographically, Asia-Pacific (APAC) held the largest share in 2019, and the region is projected to maintain its dominance in the market in the coming years. This is due to the surging consumption of the chemical in developing countries, including India, China, and Thailand, for the production of EDC/PVC and in water treatment applications due to the rising awareness regarding safe water. Besides, the heavy usage of chlorine as a bleaching agent in the pulp & paper industry of the region is expected to drive its demand in the coming years.
Thus, the rising consumption of chlorine for water treatment and the increasing demand for PVC are expected to propel the requirement for chlorine during the forecast period.
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