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The chlorine market size is estimated to grow at a CAGR of 3.77% between 2023 and 2028. The market size is forecast to increase by USD 7.44 billion. The market's growth depends on several factors such as the growing use of chlorine in the pharmaceutical industry, the rising demand for chlorine from the water and wastewater treatment industry, and the extensive use of PVC in the construction industry.
This chlorine market report extensively covers market segmentation by application (EDC/PVC, organic chemicals, isocyanates, chlorinated intermediates, and others), end-user (water treatment, pharmaceutical, chemical, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The extensive use of PVC in the construction industry is the key factor driving market growth. PVC has been used largely in a wide range of construction products for more than half a century. The characteristics of PVC, such as its strength, lightweight, durability, and versatility, make it ideal for many applications. Moreover, the construction industry is one of the major drivers for the PVC market due to a wide range of applications in the commercial, household, and industrial sectors.
In addition, enhancing infrastructure and housing conditions in emerging economies is expected to retain the demand for PVC. The long-term demand for PVC depends on the revival of the construction markets in the urbanized economies, thereby driving the growth of the global chlorine market during the forecast period.
Market consolidation through M&As is the primary trend shaping market growth. Mergers and acquisitions (M&A) in the global chlorine market are expected to continue or build on their strong run as both strategic and private equity buyers seek opportunities. Market factors that are driving this activity are strong corporate balance sheets, readily available financing at attractive rates, and underpinning high deal valuations.
For instance, in October 2022, INEOS Enterprises announced the acquisition of ASHTA Chemicals, a North American chlorine and potassium hydroxide manufacturer. Hence, the increasing number of M&As will boost the growth of the global chlorine market during the forecast period.
Logistic problems related to hazardous chemicals is a challenge that affects market growth. Lucrative growth in the chemical industry has led to an increase in the safety concerns of chemical logistics due to the steep increase witnessed by freight traffic. The lack of untrained professionals for handling the packaging and transportation of hazardous chemicals and the lack of awareness about new and emerging trends and technologies are some of the major issues faced worldwide.
Furthermore, pilferage is another major concern. Expensive chemicals are carefully replaced with certain cheap substances, with truck drivers being the major culprits. Consequently, the quality of raw materials is compromised. In addition, poor infrastructure for storage, which includes inadequate warehousing facilities and inadequate security, may hamper the growth of the global chlorine market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Chlorine Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The EDC/PVC segment is estimated to witness significant growth during the forecast period. EDC is a result of the chlorination of ethylene by either of the two processes such as direct chlorination using pure chlorine and ethylene, and oxychlorination in which ethylene reacts with chlorine in HCl. Many EDC or vinyl chloride monomer (VCM) plants employ a combination of chlorination and oxychlorination to consume the by-product of HCl from the cracking of EDC to VCM.
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The EDC/PVC segment was the largest segment and was valued at USD 11.27 billion in 2018. The construction industry is highly dependent on PVC, which reflects fluctuations in world economies. New resin grades and compounds are replacing conventional materials such as metal, wood, and glass with PVC. Polyvinyl chloride (PVC) continues to experience growing demand for various applications due to its versatility, cost-effectiveness, and unique properties, which will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 61% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Due to the continuous demand for chlorine in the construction and chemical industries, APAC led the global chlorine market. The rapid growth of chlorine can be attributed to the rising demand for PVC and increased expenditure in the construction industry in China, India, Indonesia, and Thailand.
Furthermore, APAC is anticipated to witness price fluctuations due to imbalances in the supply and demand for chlorine and caustic soda. Besides, huge demands from various end-user industries, such as PVC and pulp and paper manufacturing, located in China, India, and Vietnam, have enhanced regional market growth. Hence, such factors are expected to drive market growth in this region during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the chlorine market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of the operation of chlorine manufacturing business and end-user industries. The demand for clean and safe drinking water remains a significant driver of chlorine consumption, which is anticipated to fuel the growth of the regional chlorine market during the forecast period.
The chlorine market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Chlorine Market Scope |
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Report Coverage |
Details |
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Page number |
177 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.77% |
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Market Growth 2024-2028 |
USD 7.44 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.45 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 61% |
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Key countries |
US, Japan, Germany, France, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., Akzo Nobel NV, Banner Chemicals Ltd., BASF SE, Covestro AG, ERCO Worldwide, Ercros SA, Formosa Plastics Corp., Hanwha Corp., INEOS Group Holdings SA, Kemira Oyj, Nouryon Chemicals Holding BV, Occidental Petroleum Corp., Olin Corp., Tata Chemicals Ltd., Tosoh Corp., Vizag Chemical International, Vynova Beek BV, Westlake Corp., and Gujarat Alkalies and Chemicals Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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