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Chlor-Alkali Market
The global Chlor-Alkali market was stood around $60 billion in 2020 and is expected to demonstrate the growth of ~4% during the forecast period (2021-2027).
NOIDA, UTTAR PRADESH, INDIA, March 2, 2022 /EINPresswire.com / -- A comprehensive overview of the global Chlor-Alkali market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Chlor-Alkali market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Chlor-Alkali market at regional and country levels. The global Chlor-Alkali market was stood around $60 billion in 2020 and is expected to demonstrate the growth of ~4% during the forecast period (2021-2027).
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Market Overview
In the last few years, the chlor-alkalis witnessed substantial growth in demand owing to changing lifestyle of people due to rising per capita income. As a result, per capita spending on products produce from alumina, chemicals, pulp & paper, soaps & detergents, and textile industries among others is increasing. This in turn, increase the industrial production in order to maintain the supply-demand chain. Thus, increases the demand of chlor-alkali as they are important raw materials in large number of industries. For instance, chlorine is used in the production of polyvinyl chloride (PVC). More than 50% of the mass of PVC is chlorine. Another process is the production of alumina using Bayer process. In this process, caustic soda is used as it reacts with bauxite to form soluble sodium aluminate and the impurities can be filtered off. Further, growing population across the globe along with increasing focus of water treatment is driving the market of chlor-alkali. Nowadays, countries, across the globe started focuses on water treatment industry in order to reuse the water as well as increasing focus on providing safe clean water to consumers.
COVID-19 Impact
In the light of COVID-19, governments across the globe had taken stringent measures resulted in the shutdown of industrial process as a result demand of raw materials affected severely. Further, periodically removal of lockdown resulted in the industry operations with partial workforce, this again resulted in the less supply to end users. In addition, border closures in order to curtail the spread of disease, halted the supply chain eco-system thus, resulted in the decline in the production and consumption of chlor-alkali products.
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Global Chlor-Alkali market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By type, the market is primarily divided into:
•Caustic Soda
•Chlorine
•Soda Ash
•Others
Among these, caustic soda accounted for significant share in the market as it is widely used in several industrial process including the Bayer process of producing alumina. Further, the product is used in the production of other bulk chemicals, textile, metallurgy. In addition, it is commonly used in the soaps & detergent industries.
By application, the market is mainly categorized into:
•Alumina
•Inorganic Chemicals
•Organic Chemicals
•Pulp & Paper
•Soaps & Detergents
•Textile
•Metallurgy
•Water Treatment
•Glass
•Others
Among these, organic & inorganic chemicals categories accounted for significant market share owing to increasing production of chemicals in order to meet the growing demand. However, during the forecast period, water treatment industry is likely to showcase significant growth owing to increase focus of both government and people to save and provide clean water to the end user. This, in turn increases the demand of chlor-alkalis like chlorine and caustic soda as they are widely used to treat the water
Global Chlor-Alkali Market Geographical Segmentation Includes:
•North America (United States, Canada, Rest of North America)
•Europe (Germany, UK, France, Spain, Rest of Europe)
•Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
•Rest of World
Based on the estimation, Asia Pacific held the dominating share in the market owing to large base of end user industry like chemical, soaps & detergent, aluminum, textile, metallurgy, glass, and metallurgy, among others. This is further supported by large and growing demographic in regional economies along with growing people income, thus in turn improving the disposable income. Further, developing countries like China, India, and ASEAN nations are investing heavily in the development of infrastructure as a result demand of materials used in the construction of infrastructure is increasing. This increase in demand of materials, resulted in the increases production of chlor-alkali in the region. Further, region is the main hub of textile and soaps & detergents industries. Therefore, with increasing demand of textile products and soaps & detergents demand of chlor-alkali is increasing.
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•Olin Corporation
•Westlake Chemical Corporation
•Tata Chemicals Limited
•Occidental Petroleum Corporation
•Formosa Plastic Corporation
•Solvay SA
•Tosoh Corporation
•Hanwha Solutions Corporation
•Nirma Limited
•AGC Inc.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Chlor-Alkali market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
•What are the latest trends, new patterns, and technological advancements in the global Chlor-Alkali market?
•Which factors are influencing the global Chlor-Alkali market over the forecast period?
•What are the global challenges, threats, and risks in the global Chlor-Alkali market?
•Which factors are propelling and restraining the global Chlor-Alkali market?
•What are the demanding global regions of the global Chlor-Alkali market?
•What will be the market size in the upcoming years?
•What are the crucial market acquisition strategies and policies applied by the companies?
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