Chlor-Alkali Market: Technological Advancements and Future Scope

 The global chlor-alkali market is witnessing significant growth, driven by a surge in demand from various industries such as chemicals, textiles, and water treatment. According to recent market research, this upward trajectory is expected to continue in the coming years. 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. 

The chlor-alkali market research highlights several factors contributing to its growth. One of the primary drivers is the rising demand for chlorine-based derivatives in manufacturing processes. These derivatives are extensively used in the production of PVC, solvents, and bleach, among others. Additionally, the increasing focus on water treatment and wastewater management is propelling the demand for caustic soda, another essential chlor-alkali product.

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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.

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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.

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.

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By application, EDC/PVC accounts for the largest share of Chlorine in the Chlor-Alkali market

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. Chlorine is utilized in production of EDC/PVC and growth in end-use industries for EDC/PVC expects to drive the demand for chlorine in Chlor-alkali market.

APAC accounted for the largest share in the global Chlor-Alkali market

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.