New York, United States , July 26, 2024 (GLOBE NEWSWIRE) -- The Global Chlor-Alkali Market Size is Expected to Grow from USD 70.79 Billion in 2023 to USD 102.79 Billion by 2033, at a CAGR of 7.64% during the forecast period 2023-2033.
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The chlor-alkali process involves sending electricity through an aqueous solution of sodium chloride or brine, which decomposes to produce sodium hydroxide. Chlor-alkali is an industrial process that creates chlorine gas, sodium hydroxide, and hydrogen gas by electrolyzing a sodium chloride solution (brine). The chlor-alkali operation takes place in an electrolytic cell, which circulates an electric current through the brine solution. The anode creates chlorine gas, the cathode emits hydrogen gas, and the solution accumulates sodium hydroxide. The global chlor-alkali market is expected to stay stable, driven by growth in end-use industries such as chemical processing, water treatment, pharmaceuticals, paper & pulp, and others. Chlor-alkali is an important building block material in the chemical industry, used to make a wide range of key chemicals such as polyvinyl chloride (PVC), ethylene dichloride (EDC), caustic soda, alumina, and titanium dioxide, among others. Rapid industrialization and infrastructure-building efforts in emerging economies are expected to increase demand for such derivatives, complementing revenue production in the global chlor-alkali market over the upcoming years. However, the chlor-alkali market confronts numerous key difficulties that might limit its expansion. These include the volatility and cost of raw resources such as electricity and salt, which are required for the energy-intensive electrolysis process. Fluctuations in power rates can affect production costs, while the availability and pricing of salt might influence supply chain stability.
Browse key industry insights spread across 210 pages with 114 Market data tables and figures & charts from the report on the "Global Chlor-Alkali Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Chlorine, Caustic Soda, Soda Ash), By Technology (Mercury Cell Process, Diaphragm Cell Process, Membrane Cell Process), By End-Users (Chemical, Water Treatment, Pulp & Paper, Textiles, And Soaps & Detergents Industries), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The caustic soda segment is predicted to hold the largest market share through the forecast period.
Based on the product type, the chlor-alkali market is classified into chlorine, caustic soda, and soda ash. Among these, the caustic soda segment is predicted to hold the largest market share through the forecast period. Caustic soda has a large market due to its benefits and many applications in industries such as chemicals, pulp & paper, textiles, and water treatment. Caustic soda is used in the alumina refining process to obtain aluminum from bauxite. Global aluminum production and consumption trends impact caustic soda demand in this sector.
The membrane cell segment is anticipated to hold the highest market share during the projected timeframe.
Based on the technology, the chlor-alkali market is divided into the mercury cell process, diaphragm cell process, and membrane cell. Among these, the membrane cell segment is anticipated to hold the highest market share during the projected timeframe. It has become the most popular method of manufacturing chlor-alkali because it uses a carefully built ion-selective membrane that allows ions to permit selectively while preventing the anolyte and catholyte from mixing.
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North America is estimated to hold the largest share of the chlor-alkali market over the forecast period.
North America is estimated to hold the largest share of the chlor-alkali market over the forecast period. North America's manufacturing sector, which includes chemicals, pulp and paper, textiles, and metals, is increasing demand for chloralkali goods. In North America, chlorine-based compounds like sodium hypochlorite are widely utilized for water treatment.
Asia Pacific is predicted to have the highest CAGR growth in the chlor-alkali market over the forecast period. This expansion is being driven by rapid industrialization in a variety of industries, including chemicals, manufacturing, and infrastructure development. The region's growing population, combined with government policies promoting industrial expansion and environmental laws, feeds the demand for chlor-alkali materials used in building, water treatment, and other industrial applications.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the chlor-alkali market include Westlake Chemical Corporation, Occidental Petroleum Corporation, Tata Chemicals Limited, Formosa Plastics Corporation, INOVYN, AGC Inc, Wanhua-Borsodchem., Tosoh Corporation, Hanwha Solutions Corporation, Nirma Limited, Dow In, Xinjiang Zhongtai Chemical Co., Ltd, Ciner Resources Corporation, and Others.
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Recent Developments
In December 2023, Asahi Kasei chose to develop a chlor-alkali electrolysis cell rental business in Europe in collaboration with Nobian and LOGISTEED Europe as a first step toward realizing a circular economy of precious and other metals.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the chlor-alkali market based on the below-mentioned segments:
Global Chlor-Alkali Market, By Product Type
- Chlorine
- Caustic Soda
- Soda Ash
Global Chlor-Alkali Market, By Technology
- Mercury Cell Process
- Diaphragm Cell Process
- Membrane Cell Process
Global Chlor-Alkali Market, By End-Users
- Chemical
- Water Treatment
- Pulp & Paper
- Textiles
- Soaps & Detergents Industries
Global Chlor-Alkali Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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