Sarasota, FL -- (SBWire) -- 10/25/2017 --According to the report, the global Chlorine Market was valued at USD approximate USD 27.2 billion in 2015 and expected to reach approximately USD 38.4 billion by 2021, growing at a CAGR of around 4.5% between 2016 and 2021.
Chlorine is a part of the group of chemicals called halogen, which includes fluorine, bromine, and iodine. Chlorine does not exist naturally as it's too reactive. Chlorine is widely used in the disinfection of public water supplies to prevent the transmission of waterborne diseases such as cholera and typhoid. Chlorine can be found dissolved in seas and salty lakes as well as in the ground as rock salt or halite. Chlorine is available in various forms, which include hypo-chloride solution, chlorine gas and other compounds in solid or liquid forms. Chlorine is used in several consumer products such as in batteries, nickel chlorine etc.
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Chlorine market is expected to show high growth in light of its extensive usage in aromatics, textiles, agrochemicals, pharmaceuticals, insecticides etc. Furthermore, an increase of water treatment and pharmaceutical industries across the globe and their demand for chlorine is another key factor contributes to driving the market growth. Chlorine is wildly used as a raw material for the production of important chemicals which is further anticipated to propel the market growth within the forecast period. Furthermore, more than 95% of water treatment plants and 85% of pharmaceutical industries across the globe use chlorine in production processes. However, its energy-intensive operations coupled with environmental concerns may pose a threat to the market growth over the years. Nevertheless, increasing demand in EDC/PVC which is required in the construction industry is expected to open up new growth opportunities in the years to come.
Global chlorine market The chlorine market is segmented on the basis of different application such as EDC/PVC, inorganic chemicals, organic chemicals, chlorinated intermediaries, isocyanates, pulp & paper, water treatment, and others (TiO2 & HCl). EDC/PVC segment accounted for a large chunk of the market share in 2015. This growth is mainly attributed to increasing use of EDC/PVC in the construction industry. Water treatment segment is another key outlet and is expected to witness significant growth within the forecast period.
The chlorine market was dominated by Asia Pacific with the largest share of the total market in 2015. Asia Pacific was followed by Europe and North America in terms of revenue in 2015. This growth is mainly due to growing chemical and plastic industries in emerging economies such as China and India. Europe is likely to experience high-growth over the period on account of increasing industries in this region. However, Latin America and the Middle East & Africa are also expected to exhibit significant growth over the forecast period.
Some of the key players in this market are BASF SE, Occidental Petroleum Corporation, The Dow Chemical Company, Formosa Plastics Corporation, PPG Industries, Tata Chemicals Limited, Tosoh Corporation, and Ineos Group Ltd. and Olin Corporation.
Worldwide 2021 Chlorine Market Accounted for USD 38.4 Billion by 2021