by The global Chlor-Alkali Market is estimated to be valued at US$ 263531.83 Million in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Chlor-Alkali market comprises of products such as caustic soda, chlorine and soda ash which find its applications in various industries such as textiles, aluminum, chemicals, soaps & detergents, paper, petrochemicals etc. Chlor-Alkali products are majorly used in manufacturing PVC, polycarbonate, EDC/VCM etc. which acts as important feedstock for various end use industries. With the growing industrial activity and manufacturing sector globally, the demand for chlor-alkali products is expected to rise significantly during the forecast period.
Market key trends:
One of the major trends seen in the Chlor-Alkali market is shift towards mercury-free production technology. With growing environmental concerns, manufacturers are investing in new mercury-free membrane technology to produce chlor-alkali products in a more sustainable way. Another key trend is expansion of manufacturing facilities in Asia Pacific and Middle East regions by major players to leverage growth opportunities in these emerging markets. The demand in these regions is growing mainly due to rising construction activities, increasing population and growth in manufacturing sector.
Porter’s Analysis
Threat of new entrants: The chlor-alkali industry requires large capital investments for setting up new plants. Stringent environmental regulations also create entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products. However, established buyers can negotiate better prices due to bulk purchase volumes.
Bargaining power of suppliers: Major suppliers including salt producers and energy providers have significant influence over prices due to limited availability of raw material sources.
Threat of new substitutes: Substitute products like membrane cell technology possess threat to traditional mercury cell technology. However, limited production capacities of substitutes restricts their high market penetration.
Competitive rivalry: The global market is consolidated with major players occupying large market shares. Intense competition exists among key players to gain additional market share through capacity expansions.
Key Takeaways
The Global Chlor-Alkali Market Size is expected to witness a CAGR of 3.1% over the forecast period, due to increasing demand for PVC from the construction industry.
The Asia Pacific region dominates the global chlor-alkali market, with China being the leading consumer. Abundant availability of salt lakes and low production costs drive the market growth in the region. The construction boom across Southeast Asian countries stimulates PVC demand.
Key players operating in the Chlor-Alkali market are ANWIL SA , BorsodChem, Ciner Resources Corporation, Covestro AG, Dow, Ercros SA, Formosa Plastics Corporation, Genesis Energy LP, Hanwha Solutions, INOVYN, Kemira, Kem Onem, MicroBio Ireland Limited, NIRMA, Nouryon, Occidental Petroleum Corporation, Olin, Corporation, PCC Rokita SA, Shandong Haihua Group Co. Ltd, Spolchemie, Tata Chemicals Limited, Tosoh Corporation, Vinnolit GmbH & Co. KG, and Vynova Group. Major players are investing in expanding production capacities utilizing advanced cell technologies to cater rising demand and gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
