COVID-19 impact on the global Chlor-Alkali market

In 2020, the Chlor-Alkali market saw a dip in growth rate due to COVID-19 and the consequent lockdown across the world. The COVID-19 pandemic has severely impacted North American and European countries. Several manufacturing activities have been suspended as a preventive measure. Disruptions in supply chains impacted the chlor-alkali and other end-use industries, and demand declined by over 5% in a majority of the applications. Several expansion projects across the globe have been suspended, which has resulted in a decline in demand for chlor-alkali. The demand for the chemicals, organic, and inorganic chemicals declined significantly across the globe. To mitigate the impact, several chemical companies in North America and Europe are channelizing focus on operational efficiency, cost management, and asset optimization.

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Key players are also focusing on long-term opportunities such as emerging applications, investing in innovations, studying customer buying behavior patterns, and adopting new business models that help generate sustained growth, among others. Due to the pandemic, various building construction and infrastructural projects were suspended or postponed across the globe. Therefore, the demand for PVC declined across the globe, which, in turn, impacted the chlorine market. Decline in automotive industry further reduced the demand for glass and polymers. Moreover, water treatment projects were either rescheduled or suspended, which, in turn, will have a significant impact on the market.

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%. The growth in demand for chlor-alkali in the APAC is expected to be driven by the vinyl chain (EDC/VCM/PVC). The demand for chlor-alkali in the APAC is driven by China, which accounts for a major share, globally. China is one of the fastest-growing countries, in terms of chlor-alkali consumption, due to its large chemical and petrochemical industries. India, with its emerging economy is expected to propel the demand for chlor-alkali products during the forecast period. The rising disposable income and focus on the domestic manufacturing industry is expected to increase the demand for chlor-alkali products. However, in Europe, the market for chlor-alkali products is projected to grow at a marginal rate during the forecast period. In North America, and particularly in the US, the growth in demand for chlorine is expected to be driven by the vinyl chain (EDC/VCM/PVC). New capacities are expected to be introduced as the demand from the vinyl industry is projected to increase due to the rising demand from the construction and residential housing sectors in the US.

Chlor-alkali products, namely, chlorine, caustic soda, and soda ash are utilized in various industries. Chlorine and caustic soda are produced through the electrolysis of brine, and soda ash is produced through the Solvay process. These three products are used as raw materials in various industries; chlorine is a vital building block and more than 60% industrial chemicals require it in some form or other in production processes. Caustic soda finds applications in personal care products such as soaps and detergents. Soda ash is used in the glass industry, chemicals, and for water treatment. Some applications such as water treatment, food, and pulp & paper are common in all the three chlor-alkali products.

The Chlor-Alkali market is segmented on the basis of type as Chlorine, Caustic Soda, Soda Ash, and others. Chlorine plays an important role in various chemical industries. It is a building block in chemistry because of its reactivity and bonding characteristics. It is produced by electrolysis, majorly with the use of the membrane cell technology. Some of the manufacturers use diaphragm technology and mercury cell technology. Chlorine reacts with almost all elements, except lighter noble gases. It is a good disinfectant and bleaching agent. Chlorine applications includes EDC/PVC, organic chemicals, inorganic chemicals, isocyanates, chlorinated intermediates, propylene oxide, pulp & paper, C1/C2/ aromatics, water treatment, and others.

The leading players in the Chlor-Alkali market 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), Nirma Limited (India), AGC, Inc. (Japan), Dow Inc. (US), Xinjiang Zhongtai Chemical Co. Ltd. (China), INOVYN (UK), Ciner Resources Corporation (US), Wanhua-Borsodchem (Hungary), and others.

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Emerging countries offer significant growth opportunities in Chlor-Alkali Market

The growing industrialization in emerging economies such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina is expected to drive the chlor-alkali market during the next five years. The high demand for packaging, building & construction, consumer goods, and automotive applications in these countries increases the need for plastics, aluminum, and others used in these applications. Government policies supporting the growth of industries, low labor costs, skilled workforces, availability of raw materials, and increasing urbanization have enabled domestic and foreign companies to establish their facilities in these countries. The growth of the manufacturing industry in Malaysia, Vietnam, Colombia, and Chile is also expected to fuel market growth.

The market for plastics is dominated by the US, China, India, and Germany, among others. Brazil, China, South Africa, and Argentina, among other emerging countries, offer significant growth opportunities for the chlor-alkali market. Increasing economic activities such as rapid industrialization and urbanization are driving the demand for plastics in emerging countries. For instance, the construction industry contributes 10.0% to India’s GDP. End-use industries including automobile, construction, packaging, consumer goods, and medical & pharmaceutical are rapidly growing in these countries.

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The GDP of these emerging economies acts as a major indicator for the growth of the chlor-alkali market, as it represents the growth of the economy and per capita consumption. Due to the increase in GDP, the per capita income and spending power of the population also increases, which results in higher per capita plastic consumption in these countries. Thus, the growth of the demand for chlor-alkali can be attributed to the increasing per capita plastic consumption, which, in turn, is providing opportunities to market players in these countries.

In recent years, the chemical industry has witnessed high growth in emerging regions and steady growth in developed/mature markets. Industry participants are keen on addressing the needs/demands of growing economies. Global players have adopted expansion strategies to enhance their production capacities. Key market players are adopting expansion and joint ventures strategies to enhance their market competitiveness and increase penetration in different regions. Chemical industries in the US and Europe are mature and their growth is largely influenced by the GDP growth of these regions. The trend in rapid industrialization, supported by strong demand due to improving standards of the living, significant population base, and available pools of workforces in the APAC, Middle East & Africa, and South America has led companies to establish their facilities in these regions and cater to regional demands.

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.

The leading players in the Chlor-Alkali market 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), Nirma Limited (India), AGC, Inc. (Japan), Dow Inc. (US), Xinjiang Zhongtai Chemical Co. Ltd. (China), INOVYN (UK), Ciner Resources Corporation (US), Wanhua-Borsodchem (Hungary), and others.

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Top Market Leader - Chlor-Alkali Market

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. The growth in demand for chlor-alkali in the APAC is expected to be driven by the vinyl chain (EDC/VCM/PVC). The demand for chlor-alkali in the APAC is driven by China, which accounts for a major share, globally. China is one of the fastest-growing countries, in terms of chlor-alkali consumption, due to its large chemical and petrochemical industries. India, with its emerging economy is expected to propel the demand for chlor-alkali products during the forecast period. The rising disposable income and focus on the domestic manufacturing industry is expected to increase the demand for chlor-alkali products. However, in Europe, the market for chlor-alkali products is projected to grow at a marginal rate during the forecast period. In North America, and particularly in the US, the growth in demand for chlorine is expected to be driven by the vinyl chain (EDC/VCM/PVC). New capacities are expected to be introduced as the demand from the vinyl industry is projected to increase due to the rising demand from the construction and residential housing sectors in the US.

Chlor-alkali products, namely, chlorine, caustic soda, and soda ash are utilized in various industries. Chlorine and caustic soda are produced through the electrolysis of brine, and soda ash is produced through the Solvay process. These three products are used as raw materials in various industries; chlorine is a vital building block and more than 60% industrial chemicals require it in some form or other in production processes. Caustic soda finds applications in personal care products such as soaps and detergents. Soda ash is used in the glass industry, chemicals, and for water treatment. Some applications such as water treatment, food, and pulp & paper are common in all the three chlor-alkali products

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The Chlor-Alkali market is segmented on the basis of type as Chlorine, Caustic Soda, Soda Ash, and others. Chlorine plays an important role in various chemical industries. It is a building block in chemistry because of its reactivity and bonding characteristics. It is produced by electrolysis, majorly with the use of the membrane cell technology. Some of the manufacturers use diaphragm technology and mercury cell technology. Chlorine reacts with almost all elements, except lighter noble gases. It is a good disinfectant and bleaching agent. Chlorine applications includes EDC/PVC, organic chemicals, inorganic chemicals, isocyanates, chlorinated intermediates, propylene oxide, pulp & paper, C1/C2/ aromatics, water treatment, and others.

The major industry players have adopted expansions, agreements, and acquisitions as growth strategies in the last four years. The leading players in the market 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), Nirma Limited (India), AGC, Inc. (Japan), Dow Inc. (US), Xinjiang Zhongtai Chemical Co. Ltd. (China), INOVYN (UK), Ciner Resources Corporation (US), Wanhua-Borsodchem (Hungary), and others.

Olin Corporation manufactures chemicals and ammunition. Its business is divided into three segments, Chlor Alkali Products and Vinyls, Epoxy (epoxy materials and precursors), and Winchester (arms and ammunition). Its Chlor Alkali Products include chlorine and caustic soda, methyl chloride, methylene chloride, ethylene dichloride & vinyl chloride monomer, chloroform, hydrochloric acid, simultaneously with 1 ton perchloroethylene, carbon tetrachloride, trichloroethylene, bleach products, hydrogen, and potassium hydroxide. The Chlor Alkali and Epoxy businesses were added to the company as a spin-off from The Dow Chemical Company in 2015. The company produces chlorine, caustic soda, and hydrogen through the electrolysis of salt, also known as Electrochemical Unit (ECU). These products are produced simultaneously in the proportion of 1 ton of chlorine to 1.1 tons of caustic soda and 0.03 tons of hydrogen. The company offers these chlor-alkali products for polyvinylchloride (PVC), water treatment, alumina, pulp & paper, detergents & soaps, and other applications. It has seven production facilities for chlorine and caustic soda in the US and Canada. It has a strong presence in North America and also offers its products across Europe, the Asia Pacific, and Latin America.

Westlake Chemical Corporation is a global manufacturer and supplier of petrochemicals, vinyls, polymers, basic chemicals, and building products. The company operates its business through two segments: Vinyls and Olefins. The Olefins segment includes petrochemical products; and ethylene and styrene monomers. The Vinyls segment includes polyvinyl chloride (PVC), vinyl chloride monomers (VCM), ethylene dichloride (EDC), chlor-alkali (chlorine and caustic soda), chlorinated derivative products, and other related products. The company offers products for the packaging, healthcare, automotive, consumer goods, and other sectors. It has an overall production capacity of 22.1 million tons/ year (44.3 billion lbs/yr). It has manufacturing facilities for chlor-alkali products in the US and Germany. The chlorine is utilized for the production of vinyl chloride monomers (VCM), chlorinated derivative products, and supplied to industries. Caustic soda is utilized for the production of alumina, pulp & paper, organic & inorganic chemicals, and others. The company has business operations in North America, Europe, and the APAC.

In 2020, the Chlor-Alkali market saw a dip in growth rate due to COVID-19 and the consequent lockdown across the world. End-use industries such as construction, automotive, pulp & paper, and others were significantly impacted by COVID-19. Due to economic losses, several production activities were suspended until the recovery of the economy. This decline in the manufacturing industry across the globe, in turn, resulted in a decline in the demand for chlor-alkali products. However, the market is expected to grow steadily during the forecast period, with business operations returning to normal.

The companies have initiated the following developments:

• In July 2021, Olin Corporation entered into an agreement with ASHTA Chemicals, Inc. (US) to buy and sell chlorine which is produced at ASHTAs Ohio facility in the US.
• In January 2021, Formosa Plastic Corporation announced the expansion of production facilities based in the US, Taiwan, and China.
• In December 2019, Tata Chemicals acquired 25% partnership interest in Tata Chemicals (Soda Ash) Partners Holdings from The Andover Group, Inc., a subsidiary of Owens-Illinois Inc. for USD 195 million. Through this, the company gained full ownership of Tata Chemicals (Soda Ash).

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Steady Growth of Chemical industry across the globe to drive Chlor-Alkali Market

 

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. The growth in demand for chlor-alkali in the APAC is expected to be driven by the vinyl chain (EDC/VCM/PVC). The demand for chlor-alkali in the APAC is driven by China, which accounts for a major share, globally. China is one of the fastest-growing countries, in terms of chlor-alkali consumption, due to its large chemical and petrochemical industries. India, with its emerging economy is expected to propel the demand for chlor-alkali products during the forecast period.

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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.

• According to the European Chemical Industry Council (Cefic), in 2019, the global sale of chemicals was worth USD 4,108 billion. China dominates the sales of chemicals, followed by the European Union and the US. The sales of chemicals are expected to reach USD 6.9 trillion by 2030. Chlor-alkali products being one of the key raw materials for various products in the chemical industry, high demand is expected to further drive demand.
• According to PlasticsEurope, global plastic production in 2019 was 368 million tons. APAC dominated the market accounting for 51% of the global production.
• PVC is utilized in the construction, electronics, healthcare, automotive, packaging, and other end-use industries. Its low cost and desirable physical & mechanical properties make it a suitable material was various applications. In 2019, the demand for PVC in Europe was approximately five million tons, which accounted for 10% of the overall production of plastic in Europe.
• There is high growth in the construction sector in the US, China, and India. In 2019, the contribution of construction to the GDP of India, the US, and China was approximately 9%, 6%, and 7% respectively.
• Recovery of the automotive sector is expected to drive the demand for PVC, aluminum, and other materials in the automotive industry which is expected to further drive the market for chlor-alkali products

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.

The leading players in the Chlor-Alkali market 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), Nirma Limited (India), AGC, Inc. (Japan), Dow Inc. (US), Xinjiang Zhongtai Chemical Co. Ltd. (China), INOVYN (UK), Ciner Resources Corporation (US), Wanhua-Borsodchem (Hungary), and others.

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Rising demand in Asia-Pacific is the major growth driver for the chlor-alkali market

The global chlor-alkali market is estimated to reach USD 102.60 Billion by 2021, registering a CAGR of 5.4%. The market is driven by increasing demand for chlor-alkali products in the emerging markets and high demand from various application industries such as organic chemicals, inorganic chemicals, pulp & paper, and water treatment. Three products, namely, chlorine, caustic soda, and soda ash characterize the chlor-alkali market.

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Globally, the chlor-alkali market is one of the largest chemical industries, in terms of both value and volume. The major chlor-alkali products are chlorine, caustic soda, and soda ash.

Asia-Pacific is the largest chlor-alkali market, globally. The region accounts for a major share of the chlor-alkali market and is the largest producer of chlor-alkali, globally. China is the largest and fastest-growing chlor-alkali market in the region. With the continuous increase in capacity of chlor-alkali, the country has an upper hand, as the manufacturing costs in the country for chlor-alkali are low. India is another high growth market for chlor-alkali in the region; the country is expected to be a driving factor for the industry in the region.

Stringent environmental regulations for mercury emissions have forced the producers to shift to diaphragm and membrane cell technologies. There is an oversupply of caustic soda in the market due to the electro chemical unit ratio. The market players are always in a tight spot of how to balance the demand supply for both chlorine and caustic soda, so that there is not much in their inventories.

Solvay S.A. has a global footprint with a wide product portfolio and diverse revenue stream. The demand from the Asia-Pacific market has provided an opportunity for the company to cater to the needs of the region. The volatile exchange rates are affecting the financial situation of the organization. The company’s strong R&D laboratories help it to stay a step ahead of its competitors. It is focused on sustainable development, innovation, and operating excellence.

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Key Driving Factors Of The Chlor-Alkali Market

Increasing demand of chlor-alkali products in the emerging markets, high demand from end-use industries, and high existing production capacities of chlor-alkali products is driving the chlor-alkali market. Growth in the demand of EDC/PVC is driven by the growing construction, automotive, and personal care industries, globally. Growth of the chlor-alkali market is backed by growth in its niche applications, which include textile, water treatment, and various others. The market for chlor-alkali will continue to be governed by such factors in the future.

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Three main products, namely, chlorine, caustic soda, and soda ash mainly characterize the chlor-alkali industry. These chlor-alkali products are further used in various applications, which include EDC/PVC, organic and inorganic chemicals, paper & pulp, water treatment, glass, metallurgy and other applications. In 2015, EDC/PVC application of chlorine had the largest market share among all the applications of chlorine.

The shutting down of all mercury cell-based plants is set to have an effect on the European market. Not all plants are planned to be modified into membrane or diaphragm technology. This is expected to increase the imports in the European region, which is still reeling from the Eurozone crisis.

Asia-Pacific and the Middle East & Africa are the fastest-growing chlor-alkali markets. The rising per capita consumption of chlorine, caustic soda, and soda ash has made these regions as hotspot for the chlor-alkali market. Increasing industrialization in India, Southeast Asia, and China has made Asia-Pacific the market leader, in terms of demand as well as growth. The Middle East has always enjoyed cheaper electricity tariffs and is strategically located to cater to the needs for export markets in Asia-Pacific, North America, and Europe.

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Food and pulp & paper accounted for the largest share of caustic soda in 2015. It is further projected to follow the same trend and remain the largest application until the forecast period. In addition, the fastest-growing application for caustic soda is projected to be textile. For soda ash, glass accounted for the largest share, its demand in 2015 was over 50% of the total soda ash market. Increased demand from the packaging & container industry has spurred the demand for glass, globally. With the increase in demand from construction, automotive, and other industries, the demand for EDC/PVC is set to increase at a significant rate. EDC/PVC was also the largest application segment for chlorine. The Middle East & Africa and Asia-Pacific regions offer high growth opportunities in the chlor-alkali market.

Many companies in this industry have expanded their production capacities and also involved in other market penetration activities. Olin Corporation (U.S.), Solvay (Belgium), Tata Chemicals Limited (India), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.) were the most active companies.

Caustic Soda had the largest demand among other chlor-alkali products

Globally, the chlor-alkali market is one of the largest chemical industries, in terms of both value and volume. The major chlor-alkali products are chlorine, caustic soda, and soda ash.

Caustic soda has a wide range of applications in different end-use industries such as alumina refining, organic & inorganic chemicals, soaps & detergents, water treatment, and food and pulp & paper. Major challenges for the global caustic soda manufacturers include the high-energy costs and stringent environmental regulations. In India, there are high input costs, which make the local industry less competitive. However, there have been changes in the policies and it is expected that there will be a positive outcome for the local caustic soda industry of India. The improving manufacturing industry globally will help increase the caustic soda demand in chemical and alumina applications. Soaps and detergents application, especially in India will drive the caustic soda market in the region.

The global market size of chlor-alkali is estimated to reach USD 102.60 Billion by 2021 and is projected to register a CAGR of 5.4%. The applications for caustic soda are alumina, inorganic chemicals, organic chemicals, food and pulp & paper, soaps & detergents, textiles, water treatment, and steel/metallurgy-sintering. 

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Asia-Pacific is the largest chlor-alkali market, globally. The region accounts for a major share of the chlor-alkali market and is the largest producer of chlor-alkali, globally. China is the largest and fastest-growing chlor-alkali market in the region. With the continuous increase in capacity of chlor-alkali, the country has an upper hand, as the manufacturing costs in the country for chlor-alkali are low. India is another high growth market for chlor-alkali in the region; the country is expected to be a driving factor for the industry in the region.

Stringent environmental regulations for mercury emissions have forced the producers to shift to diaphragm and membrane cell technologies. There is an oversupply of caustic soda in the market due to the electrochemical unit ratio.

Solvay S.A. has a global footprint with a wide product portfolio and diverse revenue stream. The demand from the Asia-Pacific market has provided an opportunity for the company to cater to the needs of the region. The volatile exchange rates are affecting the financial situation of the organization. The company’s strong R&D laboratories help it to stay a step ahead of its competitors. It is focused on sustainable development, innovation, and operating excellence.

Expansions and mergers & acquisitions were the key strategies adopted by industry players to achieve growth in the global chlor-alkali market

Expansions and mergers & acquisitions were the key strategies adopted by industry players to achieve growth in the global chlor-alkali market between 2013 and 2015. These two strategies together accounted for the largest share of all the strategies adopted by market players.

Some of the leading chlor-alkali manufacturers are Olin Corporation (U.S.), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.).

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Besides expansions and merger & acquisitions, companies adopted joint ventures and agreements to expand their market share and distribution network. These strategies accounted for a small share of the total number of growth strategies adopted by the market players in the chlor-alkali market between 2013 and 2015.

Solvay, Olin, Tata Chemicals, and AkzoNobel are some of the global market players who expanded their production facilities and entered into various agreements between 2012 and 2015 for expanding their market reach. During the same time period, Tosoh, Tronox, and Olin entered into various mergers & acquisitions. Tronox is also the largest natural soda ash producer globally and with the acquisition of FMC Corporation it is one of the market leaders.

Tosoh entered into one merger and one acquisition in 2014 and 2015, respectively. In 2015 it acquired shares of Mabuhay Vinyl Corporation (Philippines) to increase its integrated supply of vinyl isocyanate and also penetrate into the growing Philippines market. The company also engaged with Nippon Polyurethane Co. Ltd. (Japan) to cope up with the domestic challenge. These moves will help the company to mark a greater presence in the Asia-Pacific region.

Solavy was very active in expanding its global footprint by expanding its facilities in the U.S. and Thailand. In Thailand, the company has Asia’s largest sodium bicarbonate plant. Solvay also expanded its Wyoming facility in the U.S. for soda ash. The expansion is expected to increase the manufacturing capacity of the plant by 150 kilotons to meet the growing demand from its U.S. export markets.

Other developments between 2013 and 2015 include development of new and enhanced membrane plants and expansions by OxyChem, Hanwha Chemical Corporation, and Xinjiang Zhongtai.

Related Reports:

Chlor-Alkali Market by Products (Caustic Soda, Chlorine, and Soda Ash), Applications (Alumina, EDC/PVC, Glass, Organic Chemicals, Inorganic Chemicals, Food, Pulp & Paper, Water Treatment and Others) & Region – Global Forecast to 2021

Chlor-Alkali Market worth 102.60 Billion USD by 2021

The report “Chlor-Alkali Market by Products (Caustic Soda, Chlorine, and Soda Ash), Applications (Alumina, EDC/PVC, Glass, Organic Chemicals, Inorganic Chemicals, Food, Pulp & Paper, Water Treatment and Others) & Region – Global Forecast to 2021″, is estimated to grow from USD 78.72 Billion in 2016 to USD 102.60 Billion by 2021, at a CAGR of 5.4%. The market is driven by increasing demand for chlor-alkali products in emerging markets and high demand from the EDC/PVC, glass and alumina application segments.

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Browse 251 market data Tables and 82 Figures spread through 268 Pages and in-depth TOC on “Chlor-Alkali Market”

“Caustic Soda had the largest demand among other chlor-alkali products”

Caustic soda has a wide range of applications in different end-use industries such as alumina refining, organic & inorganic chemicals, soaps & detergents, water treatment, and food and pulp & paper. Major challenges for the global caustic soda manufacturers include the high-energy costs and stringent environmental regulations. In India, there are high input costs, which make the local industry less competitive. However, there have been changes in the policies and it is expected that there will be positive outcome for the local caustic soda industry of India. The improving manufacturing industry globally will help increase the caustic soda demand in chemical and alumina applications. Soaps and detergents application, especially in India will drive the caustic soda market in the region.

Isocynates, textile, and glass are the fastest-growing end-use industries for chlor-alkali

EDC/PVC, food and pulp & paper, and glass are the largest applications of chlorine, caustic soda, and soda ash, respectively. These applications are the driving the overall chlor-alkali market. Among all the applications isocyanates, textiles, and glass are the fastest-growing applications for chlorine, caustic soda, and soda ash, respectively. The high demand of isocynates in manufacturing polyurethane plastics, pains, varnishes, and elastomers is driving the market for chlorine. Growing population, improving living standard, and increasing disposable income is driving the textile and glass industries, providing an impetus to caustic soda and soda ash markets.

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“Rising demand in Asia-Pacific is the major growth driver for the chlor-alkali market“

In 2015, Asia-Pacific was the largest market for chlor-alkali products. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from emerging countries of the region. China is the largest chlor-alkali market globally with the highest demand. The region also drives the market owing to the presence of emerging markets, availability of raw materials, and lower labor costs.

The key companies profiled in this market research report are Olin Corporation (U.S.), Solvay (Belgium), Tata Chemicals Limited (India), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.).

The scope of the report covers detailed information regarding the major factors influencing the growth of the chlor-alkali market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, investments & expansions, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.

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