Emergence of Environment Friendly Technologies to Drive Chlor Alkali Market, Notes Fact.MR
The proliferation of building and construction has boosted the overall consumption of chlor-alkali across all end-use applications.
Chlor alkali products find augmented use in an extensive range of applications across many industries such as construction sector, automobile industry, food, and pulp and paper industry. With such varied uses, the global chlor alkali market is likely to witness growth in the forthcoming years. With the industrialization of technology and growing up of gradation in the making of chlorine, manufacturers in the market are setting up facilities to produce allied products in an efficient manner. Many manufacturers are utilizing the technology of membrane cell to cause no or minimum impact on the environment. This factor is likely to propel growth of the global chlor alkali market in the years to come.
The global chlor alkali market is predicted to expand at a 5.4% CAGR during the tenure of analysis, from 2019 to 2027. Flourishing business of PVC is predicted to generate opportunities in the global chlor alkali market.
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Key Takeaways from Global Chlor-Alkali Market:
• China's emergence as the world's largest producer of chlor-alkali is well supported by the use of cost effective methods of using acetylene to make vinyl chloride. This will have a profound effect on the demand and supply dynamics of the domestic and international chlor-alkali market
• The demand for chlor-alkali for PVC production has accounted for over 1/3rd of the global demand in 2018 on the back of its extensive use in construction activities and infrastructure development
• Currently, about 500 chlor-alkali producers and 650 production plants are in working condition for production of chlor-alkali across the globe. Addition of new plants or capacity expansion will reduce the supply – demand gap in the near future
• Asia Pacific is expected to remain a power house in global chlor-alkali market by 2027 on the back of increasing per capita consumption of caustic soda. Asia Pacific is anticipated to create an incremental opportunity of ~US$ 31 Bn over the long-term forecast period (2019-2027).