Chlorine Market Size, Share, Demand, Growth & Trends by 2032
The global chlorine market is worth US$ 14.36 Billion as of now and expected to reach US$ 21.86 Billion by the year 2032 at a CAGR of 4.3% between 2022 and 2032.
The end-uses of chlorine and its derivatives include paints & coatings, adhesives, food processing, plastic, cosmetics, pharmaceuticals, water treatment, and likewise.
Chlorine acts as a raw material to produce a series of chemicals. For instance – it is vital regarding production of PVC (Polyvinyl Chloride). The applications of PVC include automotive, construction, composite manufacturing.
At the same time, it needs to be noted that handling as well as transporting chlorine comes with risks, as chlorine falls in the category of toxicological and inflammable substances. It also ends up enhancing the other materials’ combustion rate. Regulatory bodies like the US FDA, EPA, WHO, IARC, and likewise are imposing stern restrictions in the interest of safeguarding the environment.
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Additionally, production of chlorine is energy-intensive, which adds to overheads. In the last few years, countries like China have over-produced chlorine. As such, the prices have come down drastically. This could be problematic to the manufacturers regarding the way they cover the overall costs. The demand won’t cease, as market is witnessing a shift to membrane technology from mercury cell technology.
Regions like India, Austria, Brazil, the UK, Sweden, the US, France, and Spain are heavily investing in the building & construction sector. This asks for an exorbitant demand for PVC. Thus, the chlorine market, in spite of the over-reactive nature of chlorine, is expected to go great guns going forward. Future Market Insights has highlighted these findings with future perspectives in its latest market study entitled ‘Chlorine Market’. It has its indigenous team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With agrochemical and pharmaceutical verticals witnessing an upsurge in EDC (ethylene dichloride) and PVC (polyvinyl chloride), the chlorine market is expected to grow remarkably in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Chlorine Market
· North America holds close to 18% of the market share. This could be attributed to the US housing several primary manufacturers. Also, chlorine, along with its derivatives, are widely sold for producing prescription chemicals sold al across Canada and the US.
· Europe is expected to show steadiness in the chlorine market in the forecast period, especially amidst the economic slowdown faced by the UK.
· The Asia-Pacific is expected to witness a marked growth in chlorine market in the forecast period due to growing demand for caustic soda (which is by-product of chlorine production).
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· INOVYN, in January 2021, got selected by Koyuncu Group for supplying chlor-alkali technology at novel manufacturing facility in Konya, Turkey. BICHLOR bipolar electrolyzers would be provided by INOVYN for new facility for producing hydrochloric acid, chlorine, and sodium hypochlorite. Production began at the start of 2022 and claims to have manufacturing capacity of 50K tons every year.
· Potasse et Produits Chimiques SAS, in July 2019, did join Vynova Group. Site based out of Thann (France) has been rechristened to ‘Vynova PPC SAS’ and included under Vynova umbrella. It contains a membrane electrolysis plant and manufactures liquid potassium hydroxide (KOH) and chlorine.
· NX Filtration does develop hollow fiber modules and membranes for ultrafiltration and nanofiltration. The ultrafiltration membrane’s ‘Ultra’ range is based on modified PES (polyethersulfone) chemistry retaining yeast, microorganisms, and floating particles at the time of facilitating salts, proteins, and petite organic molecules. The membranes are known for having superlative tolerance to chlorine, with higher pH.
Unleashing the Macros of Chlorine Market
· The research study is based on application (isocyanates and oxygenates, EDC/PVC, inorganic chemicals, chloromethanes, solvents and electrolysis, pharmaceuticals, and electronics), and by end-use (pulp and paper, water treatment, chemicals, plastics, pesticide, and durable pipes).
· Growing demand for various chemical intermediates like acid chlorides, hydrochloric acid, metal chlorides, hypochloric acid, chloroform, and the other chlorine derivatives would certainly keep the cash registers ringing for chlorine market.