The chlorine market will experience high demand from water treatment facilities, paper and pulp industry, and the pharmaceutical industry during the forecast period 2019-2025. One of the primary segments of the chlorine market is water treatment where chlorine is being used for its property of easily killing pathogens inside infected or contaminated water. 58 million metric tons of chlorine is produced every single year for its primary and tertiary applications. This production will get further elevated with the demand for chlorine rising across all sectors. Owing to its properties of being an excellent oxidizing agent, acting as a disinfectant, and ability to bleach, chlorine has large scale industrial application. Some of the industries where chlorine is being immensely used are water treatment, plastic, pesticides, chemical, pharmaceutical, paper and pulp, and others.
Chlorine is also produced for its compounds that are highly beneficial to the human civilization. Chlorine products worth $1 billion were imported throughout the world for commercial purposes. Common salt for example contains sodium chloride which is again produced chemically if not naturally found. But the Earth’s water resources are abundant in common salt. Chlorine is therefore extracted from common alt through brine electrolysis and used in commercial activities. Another common compound is polyvinyl chloride which contains approximately 57% chlorine per molecule. PVC is highly used in the construction sector for its extreme durability, strength, and high resistance to moisture. These factors have also made its use indispensable in the packaging and automotive sectors where PVC is being used for making highly durable packaging and automotive parts.
The chlorine market size will witness growth with a CAGR of 4% during the forecast period 2019-2025. Additionally, the chlorine market size also reached $14 billion in 2018.
APAC Region Leading The Global Chlorine Market
On the basis of geography, the chlorine market can be segmented into APAC, the Americas, Europe, and rest of the world. According to IndustryARC’s analysis, the APAC region has emerged as the geographical leader of the market. In 2018, the region held 55% share out of the total revenue earned by the market globally. The APAC region houses two of the most populous countries in the world: India and China. Furthermore, other APAC countries such as Vietnam, Singapore, Indonesia, and others also have a sizeable contribution to the global population. With the expanse in population, the demand for constructing buildings for residential and commercial purposes is rising at an unprecedented rate. Additionally, the automotive industry is also flourishing in the APAC region. Now, the Chinese production output of vehicles is expected to reach 30 million units by the end of 2020. Furthermore, India’s automobile sales is experiencing a growth rate of 9.5% year on year. This has highly benefitted the chlorine market as construction and automotive industries are making abundant use of PVC. Polyvinyl chloride is being preferred over metal, concrete, wood, and other traditional building materials. PVC is highly cost effective as compared to these materials and is also extremely versatile. For its lightweight nature and resistance to moisture and fire, it is being used as a preferred building material. Further, more than 75% of PVC pipes currently installed or under installation will have a life of almost 100 years. PVC can also be molded and carved into any desirable shape, thus making it a product that is easily installable. This factor has also made automotive and construction as the most promising segment in the market globally. This segment has been evaluated to grow with a CAGR of 4% during the forecast period 2019-2025.
Growth Drivers Impacting The Chlorine Market
· Chlorine-based Pesticides and Insecticides To Benefit The Market
Every year, crops are damaged across the world due to several factors including change in climate, floods, and others. A primary cause of crop damage is insects and fungi that feast on crops and are reported to cause hefty financial losses to both the farmers and the agricultural industry. Now, 68% of crop damage is caused due to insects, microbes, and fungi. Inadvertently, the agricultural industry is constantly looking for means to minimize this loss which has provided growth to the chlorine market. Chlorine is highly poisonous to pathogens and insects, which is why it is being added in insecticides and pesticides. Furthermore, for the same property, chlorine is also being added into insect repellant for minimizing prevalence of insect-borne diseases such as malaria, dengue, and others, further contributing to the rise of the chlorine market.
· Promising Market Growth Provided By Water Treatment Segment
The world is currently reeling from the effects of a massive water crisis. 844 million people across the world lack access to clean, drinking water. Lack of portable water has a detrimental effect on the lives of citizens worldwide. Families face extreme poverty due to lack of water and this perpetuates an intergenerational cycle of destitution and negligible accessibility to resources. This has instigated a large-scale need for water treatment where the chlorine market plays an important role. Chlorine acts as an excellent chemical agent for killing pathogens present inside water. Furthermore, water treatment facilities have started using chlorine in the walls of reservoirs where water is stored for supplying to cities and villages. Chlorine on the walls prevents growth of bacteria, virus, and other pathogens. This has provided impetus to the chlorine market and will act as an important growth driver during the forecast period.
· Increasing Usage Of Chlorine In the Personal Care Industry
Chlorine is an excellent bleaching agent and is used in a number of personal care products. Most commonly, chlorine is used in detergents which are used both residentially and commercially. Detergents are not only used for cleaning fabrics but are now increasingly used in industries for cleaning machineries. The chlorine market has therefore found abundant application in the personal care industry. Furthermore, hair care market is also making usage of chlorine. A growing number of people are opting for hair color which requires bleaching of hair. Chlorine is used in hair and facial beaches, thus providing growth to the chlorine market.
Global Chlorine Market: Competitive Landscape
Companies which are ahead of the curve in the chlorine market are Dow Chemical, BASF SE, Occidental Petroleum Corporation, Formosa Plastics Corporation, Ineos GroupOlin Corporation, PPG Industries, Tata Chemicals Limited, Tosoh Corporation, and Hanwha Chemical.
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