Pune, Maharashtra -- (SBWire) -- 10/12/2022 --Market Overview, Definition, and Statistics
The term "chlor-alkali" describes the electrolysis of sodium chloride solution to produce chlorine and caustic soda. It is commonly used in the production of other sodium- and chlorine-based derivatives or products, including hydrogen gas, sodium hypochlorite, hydrochloric acid, and chlorinated paraffin. Currently, it has a wide range of applications in a wide range of end-use sectors, including chemicals, paper and pulp, pharmaceuticals, and beauty and personal care. Because there is greater demand for goods produced by the chemical industry, chlor-alkali is used extensively in this sector of the economy. Membrane cell and diaphragm cell procedures are the two main types of processes used in chlor-alkali.
According to the recent research report by SNS Insider, the chlor-alkali market is projected to reach USD 90.01 billion by 2028, with a CAGR of 6.5% over the forecast period of 2022–2028.
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Drivers, Restraints, Opportunities, and Challenges
Leading market companies are being encouraged to invest in research and development (R&D) operations and produce related products as a result of the expanding modernization and rapid industrialization. Additionally, these businesses are using membrane cell technology due to growing environmental concerns, which is improving the chlor-alkali market outlook. In addition, there has been a marked increase in the use of chlorine in healthcare facilities for a variety of purposes, including the hyper chlorination of potable water to prevent the colonization of Legionella, the chlorination of water distributed systems used in hemodialysis centers, the disinfection of laundry, the cleaning of surfaces, the local use to clean up blood spills, the decontamination of medical waste before dental therapy, and disposal.
The transition to an environmentally friendly production technique will have a positive impact on the market. In addition, with increased demand, the industry is anticipated to grow even more. The main reason impeding growth is the hazardous effects of chlor-alkali products, particularly chlorine. Chlorine is a strong greenhouse gas that destroys the ozone layer. The technological developments in the manufacturing process are supporting the market expansion.
Impact of the COVID-19 Pandemic
Since it may be used to disinfect objects and surfaces, chlor-alkali is in demand due to the COVID-19 (coronavirus) pandemic because it aids in halting the spread of illness. The global chlor-alkali market was significantly impacted by Covid 19. The market growth was reduced as a result of some end-user sectors' poor performance.
Market Segmentation
By Product Type
1.Caustic soda
2.Soda ash
3.Chlorine
By Production Process
1.Membrane cell process
2.Diaphragm cell process
3.Mercury cell process
By Application
1.Organic chemicals
2.Food processing
3.Paper & pulp
4.Metallurgy
5.Isocyanates & oxygenates
6.EDC/PVC
7.Water treatment
8.Textiles
9.Soaps & detergents
10.Alumina
11.Others
According to product, the chlorine sector dominates the market due to the fact that it is widely used across numerous sectors. Industrial solvents, paints and dyes, pharmaceuticals, PVC plastics, insecticides, and other products are all made with chlorine. Additionally, it is widely employed in the paper and textile industries for bleaching purposes. It is employed in water treatment facilities as well.
The membrane component dominates in terms of process. This method is popular since it requires less energy during manufacturing. Additionally, this type of production unit requires a relatively low initial expenditure to set up.
The EDC/PVC sector dominates the chlor-alkali market in terms of application. Ethylene dichloride (EDC) serves as the raw material for making polyvinyl chloride (PVC) materials. The most widely used plastic is PVC, which is used to make practically everything from footwear to electrical to medical gadgets.
Regional Analysis
The highest CAGR is anticipated to be seen in the Asia-Pacific region throughout the projection period. This is mostly caused by the rising disposable income and urbanization of these nations. The two countries with the fastest industrial growth are China and India. China is now the world's top producer and consumer of products containing chlor-alkali and dominating the chlor-alkali market.
Competitive Landscape Outlook
Some of the leading players present in the chlor-alkali market are Akzo Nobel NV, Olin Corporation, Tosoh Corporation, Tata Chemicals Ltd, Xinjiang Zhongtai Chemical Co. Ltd, Axiall Corporation, Bayer AG, and Tronox Limited.
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Chlor-Alkali Market Research Report : Will Reach USD 90.01 Billion by 2028 : With Healthy CAGR 6.5% CAGR for Forecast Period 2022-2028
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