Pune, India -- (SBWIRE) -- 11/13/2018 -- Chlor-Alkali Market was worth USD 90.92 billion in 2016. The global market is expected to grow at a CAGR of 5.0% over the forecast period of 2017 to 2023 to surpass USD 127.46 billion. In terms of volume, the global chlor-alkali market is expected to surpass 291797.2 kilo tons in 2023 growing from 227919.7 kilo tons in 2016, expanding at a CAGR of 3.6% over the forecast period of 2017-2023. The chlor-alkali process is an electrolytic process by which chlorine and alkali are produced from a salt solution. Diaphragm cell process, mercury cell process and membrane cell process are the three types of technologies utilized for chlor-alkali process. Caustic soda (sodium hydroxide), muriatic acid and potassium hydroxide are the major alkalis produced during this process. Usually seawater is used as the brine solution. If potassium brine is used, the alkali obtained by the process will be potassium hydroxide. Chlorine is a major chemical building block in various industries and it accounts for major portion of overall chlor-alkali demand. Chlorine finds major application in the EDC/PVC industry. Moreover, caustic soda finds applications in industries such as aluminum, cleaning agents, food, soap, textiles, and some others.

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The consistent global demand for alumina, pulp and paper, vinyls and other derivatives provide positive growth opportunities for chlor-alkali market. Furthermore, heavy investments in alumina industry are expected to provide growth opportunities for chlor-alkali market, as caustic soda is a major raw material for alumina refining process. The demand for chlorine is leading many chlor-alkali manufacturers to upgrade technology as well as manufacturing facilities to improve the production of allied products as well to have optimum output and it is expected to help in the growth of the market. Moreover, the growing demand from industries such as automobile, construction, food, paper, pulp and other industries are expected to drive the global chlor-alkali market .Moreover, the demand for chlor-alkali products in inorganic and organic chemicals industries are expected to enhance the growth of the global chlor-alkali market during the forecast period. However, the emission of mercury and carbon during the manufacturing of chlor-alkali has environmental implications, which in turn is likely to restrain the growth in this market over the forecast period. Replacing the older technology for production to overcome this issue is a major challenge for the players in the global chlor-alkali market during the forecast period. However, with several chlor-alkali manufacturers are adopting membrane cell technology, there is significant scope for reduction of environmental impact. This is expected to drive volume of the chlor-alkali market to grow during the forecast period.

Major Key Players mentioned in this Premium Report

The companies covered in the report include Akzo Nobel NV, Axiall Corporation, Bayer Material Sciences Ag, Occidental Petroleum Corporation, Solvay Chemicals, The Dow Chemicals, Tata Chemicals Ltd, Hanwha Chemical Corporation, Tosoh Corporation, and Xinjiang Zhongtai Chemical Co. Ltd.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of chlor-alkali globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and value chain analysis of chlor-alkali.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the chlor-alkali market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the chlor-alkali market to understand the present and future trends in this market and formulate their strategies accordingly.