The report “Chlor-Alkali Market by Type (Caustic Soda (Alumina, Chemicals, Textiles, Soaps & Detergents), Chlorine (EDC/PVC, Isocyanates, Propylene Oxide, C1/C2 Aromatics), Soda Ash (Glass, Water Treatment, Metallurgy, Pulp & Paper)), Region – Global Forecast to 2026” The global Chlor-Alkali market size is estimated to be USD 63.2 billion in 2021 and is projected to reach USD 77.4 billion by 2026, at a CAGR of 4.1% between 2021 and 2026.
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• 646 Market data Tables
• 55 Figures
• 416 Pages and in-depth TOC on “Chlor-Alkali Market – Global Forecast to 2026”
Some of the prominent key players are:
· Olin Corporation(US)
· Westlake Chemical Corporation (US)
· Tata Chemicals Limited (India)
· Occidental Petroleum Corporation (US)
· Formosa Plastics Corporation (Taiwan)
· Solvay SA (Belgium)
· Tosoh Corporation (Japan)
· Hanwha Solutions Corporation (South Korea)
Driver: Steady Growth of Chemical industry across the globe to drive demand
Chlor-alkali products such as chlorine, caustic soda, and soda ash play a vital role in the chemical industry. These products are necessary raw materials in major bulk chemical industries and utilized in various industrial and manufacturing value chains. The products are used in different applications such as plastics, alumina, paper & pulp, and others and find applications in diverse end-use industries (construction, automotive, and others). Thus, rising chemical output and strong economic conditions in emerging countries are expected to drive the growth of the chlor-alkali market.
By application, Alumina account for the largest share for Caustic soda in the Chlor-Alkali market
Alumina occurs as aluminum oxide and is refined to produce aluminum. Due to the increasing demand for aluminum across the globe, especially from China, the demand for alumina is increasing steadily. Generally, caustic soda is used for the production of alumina. Thus, the steady growth of the market is expected to, in turn, support the growth of the chlor-alkali market. APAC dominates the market, followed by North America and Europe. The demand for caustic soda is projected to be driven by the shifting base of industrial production to the APAC, the increasing population, and the rising demand for infrastructure.
APAC accounted for the largest share of the Chlor-Alkali market in 2020
followed by Europe and North America. APAC recorded the largest demand for chlor-alkali in the past few years due to the growing investments in developing countries and manufacturing capacity additions across end-use industries, especially water treatment, and chemical processing. Increasing investments in infrastructure development projects, growing urbanization, rapid industrialization, improving the standard of living, and thriving automotive sector, as well as high economic growth, are the key factors for the regions overall growth.