Chlor-alkali Market Driven by Growing Detergent, Paper & Pulp Industries in Asia Pacific
Chlor-alkali Market @ https://www.reuters.com/brandfeatures/venture-capital/article?id=94689
Asia Pacific to Dominate Global Chlor-Alkali Market due to Growing Industrialization
The global chlor-alkali market is expected to exhibit smooth progress over the forecast period due to the growing industrial consumption of products harvested using the chlor-alkali process. The rising volume of industrial activities in emerging regions could play a key role in the growth of the global chlor-alkali market over the forecast period.
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The growing paper and pulp industry and soaps and detergents industry could play a key role in the growth of the global chlor-alkali market over the forecast period. Caustic soda, or sodium hydroxide, is a key product of the chlor-alkali process and is widely used in the soaps and detergents industry as a main ingredient of soap and detergent products. The growing urbanization in emerging regions of the world is likely to lead to growing demand for soap and detergent products over the forecast period, as the number of urban households increases with rapid immigration and population growth. This is likely to remain a major driver for the global chlor-alkali market over the forecast period. The increasing demand for caustic soda in the chemicals industry is also likely to play a key role in the growth of the global chlor-alkali market over the forecast period.
The increasing demand for chlorine in the production of plastic paints is also likely to be determined by the growth of the construction industry in urban areas of developing economies around the world. The growing demand for new residential and infrastructural construction is likely to lead to a growing demand for plastic paints, leading to a rise in the demand for chlorine.
The food industry also accounts for a significant share in the demand for sodium hydroxide and is likely to become increasingly influential over the forecast period due to the growing demand from the packaged food industry.
Competitive Analysis:
Leading players in the global chlor-alkali market include AkzoNobel NV, Dow Chemicals, Axiall Corporation, Formosa Plastics Corporation, Occidental Petroleum Corporation, Solvay S.A., Nirma Limited, Olin Corporation, Tata Chemicals Ltd., and Bayer Material Sciences AG.
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Segmentation:
The global chlor-alkali market is segmented on the basis of type, application, and region.
By type, the global chlor-alkali market is segmented into chlorine gas, soda ash, and caustic soda.
By application, the global chlor-alkali market is segmented into organic/inorganic chemicals, paper and pulp industry, food, soap and detergents, and others.
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Regional Analysis:
The global chlor-alkali market is segmented by region into Asia Pacific, North America, Europe, and rest of the world.
Asia Pacific dominates the global chlor-alkali market due to the growing volume of industrial activities in the region. China is likely to be the major regional market for chlor-alkali within Asia Pacific over the forecast period due to the rapid industrialization taking place in the country. Asia Pacific is home to several of the world’s fastest growing economies and is home to several newly industrialized countries such as Indonesia, Malaysia, Thailand, Vietnam, India, and Bangladesh, which is likely to drive the demand for all three products of the chlor-alkali process over the forecast period. The growing paper and pulp and chemical industries in the emerging superpowers of China and India are likely to remain major demand avenues for the global chlor-alkali market over the forecast period.
North America follows Asia Pacific in the global chlor-alkali market due to the widespread use of the chemicals produced by the chlor-alkali process. The growing construction industry in North America, which has regenerated following the crisis in the last decade, is likely to remain a key driver for the chlor-alkali market in North America over the forecast period. The paper and pulp industry in North America are also growing rapidly due to the easy availability of timber in the North American continent.
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