Chlor-alkali products such as chlorine, caustic soda, and soda ash are indispensable. These items are important raw materials for several chemical industries, as well as being utilized in a variability of industrial and manufacturing value chains. Some of the applications where chlorine, caustic soda, and soda ash are utilized include glass, alumina, paper & pulp, and end-user industries such as construction, automotive, and others. Thus, the steady growth in demand around various end-user industries is projected to propel the growth of the chlor alkali market.
According
to the report analysis, ‘Chlor-Alkali Market: Current Analysis and Forecast
(2021-2027)’ states that the global chlor-alkali market is presenting
significant growth due to augmenting both organic and inorganic chemical
industry around the globe. The effective growth in people per capita income is enhancing
people purchasing power as a result requirement of products from manufacturing
industries such as chemical, pulp & paper, soaps & detergents, textile,
metallurgy, and glass is growing. Further, augmenting the population is another
of the foremost factor which is propelling the requirement of manufactured
products as a result, requirement of raw materials including chlor-alkalis is augmenting
in order to mitigate the supply-demand gap. Furthermore, globally, the concern connected
to water wastage and clean water is augmenting among both environmental bodies
and consumers, as a result, water treatment industry is observing significant
growth owing to which requirement of chlor-alkali products such as Chlorine is augmenting
as it is widely utilized in both residential and non-residential applications
for cleaning the water. However, in the light of COVID-19, the chemical
industry comprising chloro-alkali observed downfall in both production and
consumption due to stringent measures taken by the governments across the world
which has affected the international supply chain.
Some
of the foremost players functioning in the market comprise Olin Corporation,
Westlake Chemical Corporation, Tata Chemicals Limited, Occidental Petroleum
Corporation, Formosa Plastic Corporation, Solvay SA, Tosoh Corporation, Hanwha
Solutions Corporation, Nirma Limited, AGC Inc. amongst others. These companies
in the Chlor-Alkali market are efficiently functioning for keep maintaining the
governing position, ruling around the globe, registering the great value of
market share, generating the highest percentage of revenue, leading the highest
market growth and obtaining the competitive edge by spreading the awareness
connected to the applications and advantages of chlor alkali, implementing the
policies of profit making and strategies of expansion, increasing the features
and benefits of chlor alkali, analysing the strategies and policies of
government and analysing the strategies and policies of government as well as
contenders.
Asia
Pacific controlled the considerable market share due to large base of end use
industries in the regional countries such as China, Japan, and India, among
others. The region is the manufacturing hub of alumina, chemical, pulp &
paper, soaps & detergents, textile, and metallurgy, among others. Further, augmenting
regional aim on water treatment industry is augmenting the requirement of
chlor-alkalis.
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