Chlor Alkali Market to Reach USD 94200 Million by 2027 at a CAGR of 3.1% | Valuates Reports

BANGALORE, India, Jan. 24, 2022 /PRNewswire/ -- The Global Chlor Alkali Market is Segmented by Type (Caustic soda, Chlorine, Soda Ash), by Application (Soaps & Detergents, Textiles, Glass, Water Treatment, Metallurgy, Pulp & Paper) and Geography – Global Forecast up to 2027. It is published in Valuates Reports under the Chemicals Industry Category.

The global Chlor-Alkali market size is projected to reach USD 94200 Million by 2027, from USD 76090 Million in 2020, at a CAGR of 3.1% during 2021-2027.

Major Factors driving the growth of the Chlor alkali market are:

Increasing demand for Chlorine, Caustic soda, and Soda ash is expected to drive the growth of the Chlor alkali market growth. The chlor alkali process involves the electrolytic breakdown of salt (sodium chloride) produces chlorine and caustic soda (sodium hydroxide) at the same time.

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TRENDS INFLUENCING THE GROWTH OF CHLOR ALKALI MARKET:

In the chemical industry, Chlor-alkali products such as chlorine, caustic soda, and soda ash are essential. These items are essential raw materials for many chemical industries, as well as being used in a variety of industrial and manufacturing value chains. Some of the applications where chlorine, caustic soda, and soda ash are used include glass, alumina, paper & pulp, and end-user industries such as construction, automotive, and others. Thus the steady increase in demand across various end-user industries is expected to drive the growth of the chlor alkali market.

The Chlor-alkali market is predicted to be driven by rising industrialization in emerging economies such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina over the next five years. The United States, China, India, and Germany, among others, lead the plastics market. The Chlor-alkali market in Brazil, China, South Africa, and Argentina, among other rising countries, has tremendous growth potential. Growing glass demand from construction, automotive, packaging and other industrial applications is also expected to boost the market growth as soda ash forms an essential component of glass products.