PUNE, India, May 3, 2016 /PRNewswire/ --
The report "Chlor-Alkali Market by Products (Caustic Soda, Chlorine, and Soda Ash), Applications (Alumina, EDC/PVC, Glass, Organic Chemicals, Inorganic Chemicals, Food, Pulp & Paper, Water Treatment and Others) & Region - Global Forecast to 2021", published by MarketsandMarkets, The market is estimated to grow from USD 78.72 Billion in 2016 to USD 102.60 Billion by 2021, at a CAGR of 5.4%.
Browse 251 market data Tables and 82 Figures spread through 268 Pages and in-depth TOC on "Chlor-Alkali Market"
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The market is driven by increasing demand for chlor-alkali products in emerging markets and high demand from the EDC/PVC, glass and alumina application segments.
"Caustic Soda had the largest demand among other chlor-alkali products"
Caustic soda has a wide range of applications in different end-use industries such as alumina refining, organic & inorganic chemicals, soaps & detergents, water treatment, and food and pulp & paper. Major challenges for the global caustic soda manufacturers include the high-energy costs and stringent environmental regulations. In India, there are high input costs, which make the local industry less competitive. However, there have been changes in the policies and it is expected that there will be positive outcome for the local caustic soda industry of India. The improving manufacturing industry globally will help increase the caustic soda demand in chemical and alumina applications. Soaps and detergents application, especially in India will drive the caustic soda market in the region.
Isocynates, textile, and glass are the fastest-growing end-use industries for chlor-alkali
EDC/PVC, food and pulp & paper, and glass are the largest applications of chlorine, caustic soda, and soda ash, respectively. These applications are the driving the overall chlor-alkali market. Among all the applications isocyanates, textiles, and glass are the fastest-growing applications for chlorine, caustic soda, and soda ash, respectively. The high demand of isocynates in manufacturing polyurethane plastics, pains, varnishes, and elastomers is driving the market for chlorine. Growing population, improving living standard, and increasing disposable income is driving the textile and glass industries, providing an impetus to caustic soda and soda ash markets.
"Rising demand in Asia-Pacific is the major growth driver for the chlor-alkali market"
In 2015, Asia-Pacific was the largest market for chlor-alkali products. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from emerging countries of the region. China is the largest Chlor-Alkali Market globally with the highest demand. The region also drives the market owing to the presence of emerging markets, availability of raw materials, and lower labor costs.
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The key companies profiled in this market research report are Olin Corporation (U.S.), Solvay (Belgium), Tata Chemicals Limited (India), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.).
The scope of the report covers detailed information regarding the major factors influencing the growth of the chlor-alkali market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, investments & expansions, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.
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