Press release
Chlorine Market Growth, Industry Striking Revenue Forecast by 2029
Chlorine is an extremely reactive element and a strong oxidizing agent which is used worldwide in various scientific experiments. There has been an increasing demand for chlorine from the pharmaceuticals industry due to its wide acceptability and ease of use. Chlorine can also prove effective in the reduction of bacteria and viruses in water. Further, chlorine acts as a common disinfectant which helps to keep the swimming pools sanitary and clean. This is an important factor contributing the growth of this market.
However, the toxic nature of chlorine can have adverse effects on human health, which is projected to hamper the growth of this market.
COVID-19 Impact:
The COVID-19 pandemic has had a negative impact on the chemicals and materials industry across the world. This pandemic has also affected the growth of the chlorine market due to the closure of many industries worldwide on account of the rising lockdown restrictions imposed by the government in several regions of this market.
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Market Segmentation:
On the basis of application, this market is classified into EDC/PVC, isocyanates and oxygenates, chloromethanes, solvents and epichlorohydrin, inorganic chemicals, and others. By end-user, the market is divided into water treatment, pharmaceuticals, chemicals, paper and pulp, plastic, pesticides, and others. Based on geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights/Summary:
The report provides an exhaustive assessment of each market segment and also offers an in-depth analysis of the market drivers, trends, opportunities, and hindrances. Furthermore, the report contains a granular examination of the regional developments impacting the market, along with a thorough evaluation of the top market players and their key strategies.
Drivers/Restraints:
Increasing Number of Chemical Industries Worldwide to Fuel the Market
In recent years, there has been a significant increase in the number of chemical industries around the world especially in the countries such as India, China, Japan, Canada, and many others, which has resulted in the rising demand for chlorine across several regions. This is a crucial factor responsible for the growth of this market. Further, the chlorine is used in the making of bleached paper products, plastics such as PVC, chloroform, textiles, medicines, antiseptics, and numerous products. Thus, the wide usage of chlorine in several applications is expected to fuel this market's growth.
Regional Insights:
Rising Demand for PVC Plastic to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the chlorine market share on account of the rising demand for PVC plastics from numerous end-user industries. Further, the presence of large number of chemicals and materials industries in the countries such as India, China, Japan, Indonesia, and others is projected to fuel the growth of this market in this region.
North America is anticipated to grow rapidly in this market due to the increasing number of chemical industries in this region.
Competitive Landscape:
Strategic Alliances between Key Players to Animate Competition
The leading companies in the chlorine market are concentrating on developing and maintaining strategic collaborations with small-scale and large-scale companies in order to increase their production capabilities across several regions. This has resulted in the increasing competition among key companies which will enable them to widen their business horizons and strengthen their market presence.
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Industry Development:
November 2017: Inovyn announced its intension to invest in a new state-of-art cellroom at Koln, Germany for the production of chlorine and caustic soda.
List of Key Players Covered in the Chlorine Market Report:
Nouryon
BASF
Ercros SA
Tata Chemicals
Olin Corporation
Formosa Plastic Corporation
INEOS
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