Major players in the chlor-alkali market are AGC Inc. , Tosoh Corporation, Solvay SA, The Dow Chemical Company, Tata Chemicals Ltd. , Olin Corporation, Westlake Chemical Corporation , Xinjiang Zhongtai Chemical Co.
New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chlor-Alkali Global Market Report 2022" - https://www.reportlinker.com/p06284328/?utm_source=GNW
Ltd., Occidental Petroleum Corporation, Hanwha Group, INOVYN ChlorVinyls Limited, Wanhua-Borsodchem, Formosa Plastics Corporation, Tronox Holdings plc, Bayer AG, and Axiall Corporation.
The global chlor-alkali market is expected to grow from $67.56 billion in 2021 to $73.61 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The chlor-alkali market is expected to reach $92.07 billion in 2026 at a CAGR of 5.8%.
The chlor-alkali market consists of sales of Chlor-alkali products by entities (organizations, sole traders, and partnerships) that refer to the method used to manufacture chlorine and sodium hydroxide (caustic soda), both of which are basic chemicals required by industry.Chlor-alkali is a group of chemicals such as chlorine, hydrogen, and sodium hydroxide that is produced by the electrolysis of saltwater.
Chlorine is abundantly produced through this process and is an essential component in bleaching agents, solvents, construction materials, and insecticides.
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 cell, diaphragm cell, and others and has various applications in areas such as pulp and paper, organic chemical, inorganic chemical, soap and detergent, alumina, textile, and others
Asia Pacific was the largest region in the chlor-alkali market in 2021.North America was the second largest region in the chlor-alkali market.
The regions covered in the chlor-alkali market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 textile, paint, paper, soap and detergent, pharmaceutical, 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 4.4% in 2021 from –0.4% growth in 2020. Therefore, the growth of the chemical industry across the globe is driving the growth of Chlor-alkali market.
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.
Also, in October 2020, Grasim Industries Limited, an India-based manufacturing company, and Lubrizol, a US-based chemicals company formed a partnership to manufacture chlorinated polyvinyl chloride (CPVC) resins in India.CPVC resin will be manufactured in chlor-alkali unit of Grasim.
This partnership aims to bring world-class technologies to complement Lubrizol’s growth strategy in chlor-alkali platform in India.
In November 2019, PVS Minibulk Inc, a US-based chemicals company acquired New Haven Chlor-Alkali’s certain assets of mini-bulk distribution business for an undisclosed amount.This acquisition will help PVS Minibulk to expand its capabilities and presence in the Eastern Region by broadening the products and services portfolio to all customers.
New Haven Chlor-Alkali is a US-based company that manufactures water treatment chemicals including sodium hydroxide and chlorine using chlor alkali.
The countries covered in the chlor-alkali market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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