What is the global market size of Chlor-Alkali Market?

Global Chlor-Alkali Market size was valued at USD 63.2 billion in 2021 and is poised to grow from USD 65.79 billion in 2022 to USD 94.45 billion by 2030, growing at a CAGR of 4.1% in the forecast period (2023-2030).

Chlor-Alkali Market Size, Share, Growth Analysis, By Product(Caustic soda, Soda ash, Chlorine), By Process(Mercury Cell Process, Diaphragm Cell Process, Membrane Cell Process), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2308 | Region: Global | Published Date: February, 2024
Pages: 238 | Tables: 63 | Figures: 75

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Chlor-Alkali Market size was valued at USD 63.2 billion in 2019 and is poised to grow from USD 65.79 billion in 2023 to USD 94.45 billion by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).

Leading Chlor-Alkali suppliers rely on alliances, mergers, purchases, and the introduction of fresh software to survive in the international market. The key goal of major industry participants is continuous innovation to maintain a flawless relationship with customers. For instance, in March 2021, the three Chlor-Alkali corporations in Thailand and the CLMV market will be combined and reorganized by AGC Inc, a manufacturing company with headquarters in Tokyo. 'Formosa Plastics Corporation', 'Dow Chemical Company', 'Solvay SA', 'Occidental Petroleum Corporation', 'Tata Chemicals Ltd.', 'Nouryon', 'Olin Corporation', 'Hanwha Chemical Corporation', 'Xinjiang Zhongtai Chemical Co., Ltd.', 'Tosoh Corporation', 'Ineos Group AG', 'Shin-Etsu Chemical Co., Ltd.', 'LG Chem Ltd.', 'Akzo Nobel N.V.', 'PPG Industries, Inc.', 'Ercros S.A.', 'Nippon Soda Co., Ltd.', 'Gujarat Alkalies and Chemicals Ltd.', 'Xinjiang Markor Chemical Industry Co., Ltd.', 'KEM ONE'

Chlor-alkali is utilized in a variety of processes, including the production of alumina and PVC, chemical industries, paper production, textile industries, and glass making. As a result, the demand for goods from such sectors is growing, which is driving the Chlor-Alkali market.

Membrane cell technology is used to subjugate Chlor-Alkali manufacturing techniques. Still, the mercury cell method is still used by several manufacturing plants. Due to the severe toxicity of mercury, legislators have been forced to impose strict environmental rules on these procedures. Companies are switching from mercury cell technologies to more environmentally friendly ones like membrane cells as a result. For a fact, numerous companies in Europe changed their technology, and on the back of growing ecological issues, the same is expected to happen in different countries in the coming future.

In 2021, Asia-Pacific held the largest share of the global Chlor-Alkali market, and throughout the projected period, it is predicted that the Asia Pacific will continue to hold a prominent position. Construction operations for domestic, industrial, and commercial uses have increased dramatically as a result of the rapid industrial development and urbanization that have taken place in several countries, including China and India. As a result, there has been a noticeable increase in the usage of PVC and glass, both of which make substantial use of Chlor-Alkali. The Asia Pacific Chlor-Alkali market is consequently expanding as a result of this cause.

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Chlor-Alkali Market Size, Share, Growth Analysis, By Product(Caustic soda, Soda ash, Chlorine), By Process(Mercury Cell Process, Diaphragm Cell Process, Membrane Cell Process), By Region - Industry Forecast 2024-2031

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