Chlor-Alkali Market is Likely to Increase at a Significantly High CAGR during Forecast Period 2031 | Akzo Nobel, Occidental Petroleum Corp., Olin Corp., Solvay SA, Tosoh Corp.

The global Chlor-alkali market is anticipated to grow at a substantial CAGR of 5.0% during the forecast period. One of the core factors fuelling the market is its application in the manufacturing of different types of plastics. However, plastics have a very long life and cause significant damage to the environment. As per Geneva Environment Network, of the approximately 275 million metric tons of plastic waste produced annually, capable of 12 million tons escape into oceans, wreaking a mess on ecosystems and livelihoods (CIEL, 2020). The result is an expected $13 billion in annual environmental damage to marine ecosystems. This has increased the concerns of governments across the globe in the past few years, and several governments have taken strong steps to reduce the production of plastics.

For instance,in February 2022,at the fifth UN Environment Assembly (UNEA-5.2) as countries agreed to establish an international negotiating committee, to develop an international legally binding instrument on plastic pollution by the end of 2024. The resolution specifies that the instrument could include both binding and voluntary approaches, based on a comprehensive approach that addresses the full lifecycle of plastic. This may impact the demand for Chlor-alkali shortly. However, this may also increase the demand for other materials such as clothes that can be used in place of polythenes which can raise the demand for Chlor-alkali in the textile industry.

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Market Coverage

• The market number available for - 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

Segment Covered-

• By Product

• By Application

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- including Akzo Nobel, Occidental Petroleum Corp., Olin Corp., Solvay SA, Tosoh Corp., and others.

Chlor-Alkali Market Report Segment

By Product

• Chlorine

• Caustic Soda

• Soda Ash

By Application

• Paper & Pulp

• Gas

• Chemical

• Textiles

• Others

A full Report of Chlor-Alkali Market is Available @ https://www.omrglobal.com/industry-reports/chlor-alkali-market-size

Chlor-Alkali Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• Aditya Birla Chemicals

• Chemfab Alkalis Ltd

• DCM Shriram

• FMC Corp.

• Formosa Plastics Corp.

• Genesis Energy, L.P.

• Hanwha Chemical Corp.

• Ineos AG

• Lords Chloro Alkali Ltd.

• Nirma Ltd.

• Shintech, Inc.

• Tata Chemicals Ltd.

• The Sanmar Group

• Westlake Chemical Corp.

• Xinjiang Zhongtai Chemical Co. Ltd.

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2. More than 120 countries are for analysis.

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