Chlor-Alkali Market is Estimated to Witness High Growth Owing to Advancements in Membrane Cell Technology
Chlor-alkali products are primarily used to manufacture chlorine, alkali, bleaching powder and chemicals. It involves the electrolysis of brine which yields chlorine, hydrogen, and sodium hydroxide or potassium hydroxide depending on the alkali used. The membrane cell technology used in the process provides a more efficient and eco-friendly method of production compared to the diaphragm cell and mercury cell technologies.
The global chlor-alkali market is estimated to be valued at US$ 303588.67 Bn in 2024 and is expected to exhibit a CAGR of 15.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Chlor-Alkali market are Teva Pharmaceutical Industries Ltd., AbbVie Inc, Pfizer Inc., Reddy's Laboratories Ltd, Zydus Cadila, ReNetX Bio, Inc, InVivo Therapeutics Holdings, Lineage Cell Therapeutics, Inc, Kringle Pharma, Inc., Acorda Therapeutics, Inc., Bioaxone Biosciences, Inc, RespireRx Pharmaceuticals Inc., NervGen, Rising Pharmaceuticals, Inc, ScieGen Pharmaceuticals, Inc, MSN Laboratories Private Limited, and Lannett Co Inc.
The key opportunities in the market include growing demand for polyvinyl chloride (PVC) and increasing focus on green Chlor-Alkali Market Size production methods. Advancements in membrane cell technology have improved plant efficiency and reduced energy requirements of the chlor-alkali production process.
Market drivers: The primary driver boosting the chlor-alkali market is the rising demand from the PVC industry. PVC finds wide application in the construction, automotive and packaging sectors. Increasing construction activities especially in developing economies due to rapid urbanization will augment the consumption of PVC which in turn will drive chlor-alkali demand over the forecast period.
Current Challenges in Chlor-Alkali Market:
The chlor-alkali industry faces several challenges such as stringent environmental regulations on the production and use of mercury cell technology for chlorine production. Many countries are phasing out or have already banned the use of mercury due to its hazardous nature. This is forcing Chlor-Alkali Market Analysis manufacturers to switch to alternative membrane cell technologies which require significant capital investments. The fluctuating prices of key raw materials also pose a major challenge as it increases the production costs for manufacturers. For instance, price volatility in salt and energy directly impacts the costs. Moreover, developed markets in North America and Europe are slowly reaching saturation, forcing companies to tap into new growth avenues in developing regions.
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