The global Chlor-alkali market is anticipated to grow at a substantial CAGR of 5.0% during the forecast period (2022-2028). One of the core factors fueling 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.
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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 – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Product
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Akzo Nobel, Occidental Petroleum Corp., Olin Corp., Solvay SA, Tosoh Corp., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Chlor-AlkaliMarket Report Segment
By Product
- Chlorine
- Caustic Soda
- Soda Ash
By Application
- Paper & Pulp
- Gas
- Chemical
- Textiles
- Others
