Chlorine Market Is Expected to Grasp the Value of USD 57.69 Billion by 2032
Market Overview
The chlorine market is anticipated to experience a significant revenue CAGR of 4.2% during the forecast period, with the global market size estimated at USD 39.84 Billion in 2022 and projected to reach USD 57.69 Billion in 2032. One of the key drivers of market revenue growth is the growing need for chlorinated organic compounds, such as Polyvinyl Chloride (PVC) and other resins, in the construction industry, as well as the increasing use of chlorine for water purification in emerging countries.
The rising demand for PVC resins in the construction industry for a variety of applications, including pipes, fittings, and sidings, is a significant factor driving the demand for chlorine. Developing countries such as China and India are expected to drive revenue growth in the chlorine market due to the increasing demand for PVC and other resins in the coming years.
Additionally, the requirement for water treatment and purification is on the rise around the world, driving demand for chlorine. Chlorine is frequently used for water purification due to its potent oxidizing abilities, which help to eliminate hazardous bacteria and viruses from the water. As the global population continues to grow and water use increases, the demand for water treatment and purification is expected to rise, further fueling the demand for chlorine.
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Chlorine Market: Segmentation
The report covers revenue forecast, company ranking, competitive landscape, growth factors, and trends, and is segmented by production method outlook, application outlook, and regional outlook.
The rising demand for chlorinated organic compounds, such as Polyvinyl Chloride (PVC) and other resins in the construction industry, is a major factor driving the growth of the chlorine market. PVC resins are extensively utilized in the construction industry for various applications such as pipes, fittings, and sidings. As developing countries such as China and India experience an increase in PVC and other resin demand, it is expected that the growth of the chlorine market will be positively affected in the coming years.
Another key driver of the chlorine market is the increasing demand for water treatment and purification around the world. Chlorine is frequently used for water purification due to its powerful oxidizing abilities, which aid in the removal of hazardous bacteria and viruses from water. The growing global population and resulting increase in water usage are expected to drive the need for water treatment and purification, thereby driving the demand for chlorine.
Overall, the chlorine market is expected to experience significant growth in the coming years, driven by the construction industry's need for chlorinated organic compounds and the rising demand for water treatment and purification.
Chlorine Market: Strategic Development
Several notable developments have taken place in the chlorine industry in recent years. For instance, Ineos Group Holdings S.A. announced in 2021 that it would construct a new energy-efficient chlorine plant in Germany to replace an existing facility. The company aims to reduce carbon emissions and make the new plant more sustainable than its predecessor. Similarly, BASF SE announced the construction of a new chlorine production plant in China in 2021, which will incorporate advanced technology to improve efficiency and reduce emissions.
Dow Chemical Company also made an announcement in 2020 about expanding its chlorine production facility in Freeport, Texas. The expansion is expected to improve efficiency and increase production capacity, thereby enhancing the company's position in the market. In the same year, Solvay S.A. acquired PeroxyChem LLC, a U.S.-based company that produces hydrogen peroxide and peracetic acid. Through this acquisition, Solvay S.A. aims to expand its product portfolio and strengthen its presence in the global market. These developments reflect the industry's efforts to improve efficiency, reduce carbon emissions, and expand product portfolios to meet increasing demand.
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