Market Research Future Published a Half-Cooked Research Report on Global Chlor-Alkali Market
Market Overview and Growth factors:
Chlor-Alkali refers to the process that is used for the electrolysis of sodium chloride. The procedure creates chlorine and sodium hydroxide which are common by products i.e. commodity chemicals required by the industry. The industrial scale production process of Chlor-Alkali began in 1892. The process includes the electrolysis of brine solution which creates sodium hydroxide, hydrogen and chlorine. The main products of the Chlor alkali market are caustic soda chlorine gas and soda ash.
According to a recently published report by Market Research Future on Global Chlor-Alkali Market - Forecast to 2027, the sector is expected to see double billion dollar growth with an impressive CAGR rate. The reason for the boom of this sector can be attributed to the increased demand from construction sector and paper industries to name a few. This has caused a rise in the upgradation and industrialization to technology to manufacture chlorine in an effective manner. The development of manufacturing industries globally will drive demand for caustic soda in alumina and chemical market. The growing demand for plastic paints, elastomers are a few of the factors driving the market of chlorine product in COVID 19 Impact on Chlor-Alkali Market.
The factors that may hamper the expansion of this market are government regulations for environment safety in regards to the mercury and carbon emissions from these products. Lack of standardization in the sector is also another hurdle that must be overcome to achieve growth. Additionally, the pre-existing technology should be improved upon to ensure lower energy consumption and reduced environmental impact.
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Latest Industry News:
October 2017 AkzoNobel has further expanded its production recently by converting the company’s mercury-based Chlor-Alkali plant in Frankfurt to modern membrane technology, which has increased the availability of chlorine raw material.
March 2017 International Process Plants (IPP) and ChemChina's Bluestar (Beijing) Chemical Machinery Company, Ltd. (BCMC) have announced a partnership, in which IPP will provide new chlorine alkali plants designed and built by BCMC to industries around the world. This project will allow the companies to work with their client base in the COVID 19 Impact on Chlor-Alkali Market to increase cost competitiveness, as well as to decrease their new capacity expansion project's cost and lead time.
November 2017 Inovyn has invested in a substantial new state-of-the-art membrane cell room for the production of chlorine and caustic soda at Cologne, Germany. The company’s chlor-alkali investment program currently includes a well advanced membrane cell room conversion at Stenungsund (Sweden), as well as the recently completed expansion of its membrane chlorine cell room at Antwerp/Lillo (Belgium) to mention a few of its significant investments.
Global Chlor-Alkali Market – Competitive Analysis
With the entry of new industry players in the Global Chlor-Alkali Segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced product types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Effective planning is essential in terms of business development so as to gain maximum returns on investment.
The key players of Global Chlor-Alkali Market are AkzoNobel NV, Bayer Material Sciences AG, Dow Chemicals, Tata Chemicals Ltd. Some of the other prominent players are Axiall Corporation, Olin Corporation, Formosa Plastics Corporation, Nirma Limited, Occidental Petroleum Corporation, Solvay S.A. and others.
Global Chlor-Alkali Market – Segments
Global Chlor-Alkali Market is segmented into the following categories:
By Product Type: Chlorine Gas, Caustic Soda and Soda Ash
By Application: Organic Chemicals, Inorganic Chemicals, Paper & Pulp Industry, Food, Soaps & Detergents and Others
By Region: North America, Europe, APAC and ROW
Global Chlor-Alkali Market - Regional Analysis
Geographically, APAC region dominates this Chlor- Alkali Market both in terms of volume and value and is expected to grow significantly at the same rate. China is major revenue generating country due to rapid industrialization, low cost of raw material and labor and high manufacturing of Chlor-Alkali products. North America and Europe is second and third due to less production of Chlor- Alkali Products compared to developing economies.
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