The increasing demand for PVC in the construction industry is one of the key factors driving the global Chlor Alkali Market during the forecast period, says Fortune Business Insights ™ in a report, titled “Chlor Alkali Market Size, Share & Industry Analysis, By Type (Caustic Soda, Chlorine, Soda Ash, Others), By Application (Alumina, EDC/PVC, Glass, Pulp & Paper, Water Treatment, Others) and Regional Forecast, 2019-2026” The growing requirement for water treatment plants in the chemical industry is predicted to fuel demand for chlor alkali in the forthcoming year.
The chloralkali process (also chlor-alkali and chlor alkali) is an industrial process for the electrolysis of sodium chloride solutions. It is the technology used to produce chlorine and sodium hydroxide (lye/caustic soda),which are commodity chemicals required by industry. 35 million tons of chlorine were prepared by this process in 1987.Industrial scale production began in 1892.
List of the Major Companies in the Chlor-Alkali Market Include:
Bayer Material Sciences AG
Tata Chemicals Ltd.
Formosa Plastics Corporation
Occidental Petroleum Corporation
Ineos Group Limited
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According to the report, Chlor-alkali refers to an industrial process that is utilized in the manufacturing of caustic soda, soda ash, chlorine and other sodium and chlorine-based derivatives. The process involves electrolysis of sodium chloride solution and ensuring the formation of chlor- alkali products. The caustic soda segment is expected to account for maximum share in the market owing to its extensive use in the manufacturing of paper & pulp, soaps & detergents, alumina, chemical products, and others.
The growing demand for caustic soda due to the increasing requirement for paper, detergents and soaps from consumers. The rising demand for high-quality papers from consumers is expectd to spur high demand for caustic soda in paper and pulp applications. EDC/ PVC has the highest market share and is expected to grow significantly during the forecast period owing to the increasing demand for PVC from the construction industry. Furthermore, the expansion of glass packaging and container industry will fuel demand for soda ash demand in glass applications. Thus, adding the chlor alkali market share.
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Presence of Key players to Enable Growth in Asia Pacific
Geographically, the global chlor alkali market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia-Pacific is predicted to proliferate during the forecast period owing to the increasing construction activities in the region. Furthermore, China is the fastest-growing market for chlor-alkali due to the low manufacturing costs in the country. These factors together are expected to aid growth in Asia Pacific.
The report offers enlightening insights into all the predominating trends of the chlor alkali market. It delivers a comprehensive study of all the segments and shares information regarding the leading regions in the market. It also provides statistical data on all the recent developments in the market. It is put together after wide-ranging research followed by profound analysis to assist companies, stakeholders, financers and potential investors. The report aims to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.
Deal Between Olin and Dow Chemical to Spur New Business Opportunities for the Chlor - Alkali Market
The acquisition of Olin for Dow Chemical’s Chlorine business is expected to accelerate the chlor alkali market growth in the forthcoming years. For instance, Olin acquired large parts of Dow Chemical’s chlorine business for $5bn. Under the deal, Olin now owns Dow Chemical’s US Chlor-Alkali and Vinyl, Chlorinated organics, and global epoxy businesses.
Furthermore, the plans of AkzoNobel to upgrade the Rotterdam Chlor-alkali plant is likely to encourage the growth of the market in the forthcoming years. For instance, In July 2018, AkzoNobel planned to upgrade its Rotterdam chlor-alkali plant and include a new production line due to an increase in demand for chlorine and caustic soda.
The plant currently produces 630,000 tons/year of chlorine. Also, the surge in construction activities is expected to fuel demand for chlor alkali in the forthcoming years. Moreover, the growing requirement for the establishment of water treatment plants in chemical industries due to regulations by the government is expected to boost the chlor alkali market trends in the foreseeable future.
However, increasing regulations imposed by the government authorities beacause of environmental concerns is expected to dampen the growth of the market in the forthcoming years.