(MENAFN- GlobeNewsWire - Nasdaq) The chlorine market is projected to grow at a 4.5% CAGR, reaching USD 24.19 billion by 2034, driven by rising demand in water treatment and the Pharmaceutical industry. Technological advancements in chlorine procurement and processing are also fueling market expansion
NEWARK, Del, Aug. 29, 2024 (GLOBE NEWSWIRE) -- The chlorine market size and growth are anticipated to propagate sluggishly at a CAGR of 4.5% through 2034. It will navigate through the forecasted period to reach USD 24.19 billion, elevating the market valuation from USD 15.58 billion measured in 2024.
Among all the growth drivers of the chlorine market, the growing demand for water treatment plants is driving the chlorine market growth. Governments are also encouraging the establishment and maintenance of water treatment. This fuels the chlorine market size.
The growth of the pharmaceutical industry is another factor causing the chlorine market growth. Chlorine, being used effectively for medicine preparation, will gain demand in the next decade. Hence, it will bloat the chlorine market size.
Technological development enhances the procurement, storage, and processing of chlorine compounds, helping leading chlorine producers to meet demands from different sectors. Hence, this is another market driver.
Sustainable practices are fostered in the market. Hence, such methods are used more by leading chlorine producers, which include membrane electrolysis. This efficiently produces chlorine compounds, driving the market.
“Price volatility of the complementary commodities will fluctuate the production cost, affecting the chlorine market growth,” says Nikhil Kaitwade , Associate Vice President at Future Market Insights (FMI)
Key Takeaways from the Market Study
Chlorine is widely used in PVC preparation, as it aids in better physical strength of the compound. This market segment will likely hold 32.5% of the market space in 2024. The plastic industry segment will secure 33.4% of the market space. The Indian chlorine market will likely lead the Asia-Pacific region and the global market in terms of its growth rate. It will advance at the highest CAGR of 6.7%. The United States of America will forecast a CAGR of 2.5% through 2034.
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Competitive Landscape
Leading chlorine producers innovate using various strategies and govern a major sector of the global chlorine market. They expand using key strategies, including collaborations, acquisitions, partnerships, and mergers. The new entrants might need to innovate to gain a better competitive landscape and more market space. Effective marketing, strategies, alliances, etc., can be effective strategies for them. The following key recent developments have occurred in the market:-
In July 2021, Olin Corporation partnered with ASHTA Chemicals, Inc. The strategic partnership mainly aimed to boost both firms' businesses using combined resources. Thus, the strategic move helped the firm bolster its international market position. In December 2023, BASF SE launched Irgastab PUR 71. It is an anti-oxidant to enhance regulatory compliance and performance for polyols and polyurethane foams. The main aim while designing the compound was to reduce environmental hazards. It has bolstered the organization's market position.
Key Companies Profiled
BASF SE, Olin Corporation, The Dow Chemical Company, Occidental Petroleum Corporation, Ercros, PPG Industries, Hanwha Chemical Corporation, Formosa Plastics Corporation, De Nora, Ineos Group Ltd, INOVYN, Tata Chemicals Limited, Xinjiang Zhongtai Chemicals Co. Ltd, Tosoh Corporation
More Valuable Insights Available
Future Market Insights offers an unbiased global chlorine market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The subject market is segmented by Application (Isocyanates and Oxygenates, EDC/PVC, Inorganic Chemicals, Chloromethanes , Solvents and electrolysis, Pharmaceuticals, and Electronics) and by End Use (Paper and Pulp, Water Treatment, Chemicals, Plastics , Pesticide, and Durable Pipes) .
Chlorine Market - Key Segments
By Application:
Isocyanates and Oxygenates EDC/PVC Inorganic Chemicals Chloromethanes Solvents and electrolysis Pharmaceuticals Electronics
By End Use:
Paper and Pulp Water Treatment Chemicals Plastics Pesticide Durable Pipes
By Region:
North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East and Africa
Old Source: Global Chlorine Market Set to Surge: Expected Worth of US$ 22,285.1 million by 2033 Driven by Rising Demand for Clean Water and Chemical Industry Growth | Future Market Insights, Inc.
Se prevé que el tamaño y el crecimiento del mercado del cloro se propaguen lentamente a una CAGR del 4,5% hasta 2034. Navegará a través del período previsto para alcanzar los 24.190 millones de dólares, elevando la valoración del mercado de los 15.580 millones de dólares medidos en 2024.
Entre todos los impulsores del crecimiento del mercado del cloro, la creciente demanda de plantas de tratamiento de agua está impulsando el crecimiento del mercado del cloro. Los gobiernos también están fomentando el establecimiento y mantenimiento del tratamiento del agua. Esto alimenta el tamaño del mercado del cloro.
El crecimiento de la industria farmacéutica es otro factor que provoca el crecimiento del mercado del cloro. El cloro, que se utiliza eficazmente para la preparación de medicamentos, ganará demanda en la próxima década. Por lo tanto, aumentará el tamaño del mercado del cloro.
El desarrollo tecnológico mejora la adquisición, el almacenamiento y el procesamiento de compuestos de cloro, lo que ayuda a los principales productores de cloro a satisfacer las demandas de diferentes sectores. Por lo tanto, este es otro impulsor del mercado.
Se fomentan prácticas sostenibles en el mercado. Por lo tanto, estos métodos son más utilizados por los principales productores de cloro, que incluyen la electrólisis de membrana. Esto produce de manera eficiente compuestos de cloro, lo que impulsa el mercado.
“La volatilidad de los precios de los productos complementarios fluctuará el costo de producción, lo que afectará el crecimiento del mercado del cloro”, dice Nikhil Kaitwade, vicepresidente asociado de Future Market Insights (FMI)
Conclusiones clave del estudio de mercado
. El cloro se usa ampliamente en la preparación de PVC, ya que ayuda a mejorar la resistencia física del compuesto. Este segmento de mercado probablemente tendrá el 32,5% del espacio de mercado en 2024.
. El segmento de la industria del plástico asegurará el 33,4% del espacio de mercado.
. El mercado indio de cloro probablemente liderará la región de Asia y el Pacífico y el mercado global en términos de su tasa de crecimiento. Avanzará a la CAGR más alta del 6,7%.
. Estados Unidos de América pronostica una CAGR del 2,5% hasta 2034.
Panorama competitivo
Los principales productores de cloro innovan utilizando diversas estrategias y gobiernan un sector importante del mercado global del cloro. Se expanden utilizando estrategias clave, que incluyen colaboraciones, adquisiciones, asociaciones y fusiones. Los nuevos participantes podrían necesitar innovar para ganar un mejor panorama competitivo y más espacio en el mercado. El marketing, las estrategias, las alianzas, etc. eficaces pueden ser estrategias eficaces para ellos. Los siguientes desarrollos recientes clave han ocurrido en el mercado:-
. En julio de 2021, Olin Corporation se asoció con ASHTA Chemicals, Inc. La asociación estratégica tenía como objetivo principal impulsar los negocios de ambas empresas utilizando recursos combinados. Por lo tanto, la medida estratégica ayudó a la empresa a reforzar su posición en el mercado internacional.
. En diciembre de 2023, BASF SE lanzó Irgastab PUR 71. Es un antioxidante para mejorar el cumplimiento normativo y el rendimiento de los polioles y las espumas de poliuretano. El objetivo principal al diseñar el compuesto era reducir los riesgos ambientales. Ha reforzado la posición de mercado de la organización.
Perfiles de empresas clave
BASF SE, Olin Corporation, The Dow Chemical Company, Occidental Petroleum Corporation, Ercros, PPG Industries, Hanwha Chemical Corporation, Formosa Plastics Corporation, De Nora, Ineos Group Ltd, INOVYN, Tata Chemicals Limited, Xinjiang Zhongtai Chemicals Co. Ltd, Tosoh Corporation
Más información valiosa disponible
Future Market Insights ofrece un análisis imparcial del mercado global del cloro, que proporciona datos históricos de 2019 a 2023 y estadísticas de pronóstico de 2024 a 2034.
El mercado en cuestión está segmentado por aplicación (isocianatos y oxigenados, EDC/PVC, productos químicos inorgánicos, clorometanos, disolventes y electrólisis, productos farmacéuticos y electrónicos) y por uso final (papel y pulpa, tratamiento de agua, productos químicos, plásticos, pesticidas y tuberías duraderas).
Mercado de cloro: segmentos clave
Por aplicación:
. Isocianatos y oxigenados
. EDC/PVC
. Productos químicos inorgánicos
. Clorometanos
. Disolventes y electrólisis
. Productos farmacéuticos
. Electrónica
Por uso final:
. Papel y pulpa
. Tratamiento de agua
. Productos químicos
. Plásticos
. Pesticidas
. Tuberías duraderas
Por región:
. América del Norte
. América Latina
. Europa occidental
. Europa del Este
. Asia meridional y el Pacífico
. Asia oriental
. Oriente Medio y África
About the Chemical & Material Division at Future Market Insights
The chemical & material team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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