Press release
Chlor-Alkali Market Report 2024: Strategies And Recent Developments | AGC Inc., Tosoh Corporation, Solvay SA, The Dow Chemical Company, Tata Chemicals Ltd., Olin Corporation
Chlor-Alkali Market Size
The Business Research Company offers in-depth market insights through Chlor-Alkali Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The chlor-alkali market size has grown strongly in recent years. It will grow from $79.98 billion in 2023 to $86.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth in chemical manufacturing, increased water treatment demand, growth of the pulp and paper industry, increased pharmaceutical production, and increased demand for food processing.
The chlor-alkali market size is expected to see strong growth in the next few years. It will grow to $117.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increasing sustainable chemistry practices, growing clean energy production, global industrial expansion, green chemical manufacturing, increasing demand for water quality management
. Major trends in the forecast period include advanced electrolysis technologies, water treatment solutions, specialty chemical applications, electrolyzer innovations, and chemical industry innovation.
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Market Segmentation:
The main types of products in chlor-alkali are chlorine-based chlor-alkali, caustic soda-based chlor-alkali, soda ash-based chlor-alkali, and others. The membrane cell process uses brine and membrane cells for chlor-alkali production with charged electrodes. The production processes include membrane cells, diaphragm cells, and others and have various applications in areas such as pulp and paper, organic chemicals, inorganic chemicals, soap and detergent, alumina, textiles, and others.
Major Driver - The Global Chemical Industry's Growth Fuels Chlor-Alkali Market Expansion
The growth of the chemical industry across the globe is expected to propel the growth of the chlor-alkali market going forward. The chemical industry produces industrial chemicals and provides building blocks and raw materials for many industries, such as textiles, paint, paper, soap and detergent, pharmaceuticals, and agriculture. Chlor-alkali is used in the chemical industry to generate chemicals through an industrial process, and the growth of the chemical industry will encourage the usage of chlor-alkali to produce chlorine, hydrogen, and sodium hydroxide. For instance, according to BASF SE, a Germany-based chemicals company, global chemical production increased by 4.4% in 2021, from a negative 0.4% growth rate in 2020. Therefore, the growth of the chemical industry across the globe is driving the chlor-alkali market growth.
Competitive Landscape:
Major companies operating in the chlor-alkali market include AGC Inc., Tosoh Corporation, Solvay SA, The Dow Chemical Company, Tata Chemicals Ltd., Olin Corporation, Westlake Chemical Corporation, Xinjiang Zhongtai Chemical Co. Ltd., Occidental Petroleum Corporation, Hanwha Group, INOVYN ChlorVinyls Limited, Wanhua-Borsodchem, Formosa Plastics Corporation, Tronox Holdings plc, Bayer AG, Axiall Corporation,, BASF SE, Akzo Nobel N V, FMC Corporation, Covestro AG, Shin-Etsu Chemical Co., Ltd., PPG Industries, Saudi Arabias Basic Industries Corporation, Reliance Industries Limited, Grasim Industries, Gujarat Alkalies and Chemicals Limited, Nirma Limited, China National Chemical Corporation, Shandong Dongyue Group, Ciech S.A., The Aditya Birla Group, Inner Mongolia Junzheng Energy & Chemical Group, China National Petroleum Corporation
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Top Trend - Strategic Partnerships To Gain A Competitive Edge
Strategic partnerships and collaborations have emerged as a key trend being followed by the companies operating in the chlor-alkali market. This is owing to the presence of a large number of chlor-alkali firms operating in the industry and their desire to expand their market leadership. For instance, in June 2021, Abu Dhabi National Oil Company (ADNOC), a UAE-based oil company, and Reliance Industries Limited, an India-based integrated company across materials, entertainment, energy, retail, and digital services, formed a strategic partnership to join a new world-scale ethylene dichloride, chlor-alkali, and polyvinyl chloride production facility in Abu Dhabi. This partnership aims to leverage the strengths of both companies as global industrial leaders.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chlor-Alkali Market Characteristics
3. Chlor-Alkali Market Trends And Strategies
4. Chlor-Alkali Market - Macro Economic Scenario
5. Chlor-Alkali Market Size And Growth
…..
27. Chlor-Alkali Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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