Through 2034, the size and growth of the chlorine market are projected to expand slowly at a 4.5% CAGR. Throughout the projected period, it will rise to USD 24.19 billion, increasing the market valuation from USD 15.58 billion as of 2024.
Among all the growth drivers of the chlorine market, the growing demand for water treatment plants is driving the chlorine market growth. Governments are also encouraging the establishment and maintenance of water treatment. This fuels the chlorine market size.
The growth of the pharmaceutical industry is another factor causing the chlorine market growth. Chlorine, being used effectively for medicine preparation, will gain demand in the next decade. Hence, it will bloat the chlorine market size.
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Technological development enhances the procurement, storage, and processing of chlorine compounds, helping leading chlorine producers to meet demands from different sectors. Hence, this is another market driver.
Sustainable practices are fostered in the market. Hence, such methods are used more by leading chlorine producers, which include membrane electrolysis. This efficiently produces chlorine compounds, driving the market.
Key Takeaways from the Market Study
- Chlorine is widely used in PVC preparation, as it aids in better physical strength of the compound. This market segment will likely hold 32.5% of the market space in 2024.
- The plastic industry segment will secure 33.4% of the market space.
- The Indian chlorine market will likely lead the Asia-Pacific region and the global market in terms of its growth rate. It will advance at the highest CAGR of 6.7%.
- The United States of America will forecast a CAGR of 2.5% through 2034.
“Price volatility of the complementary commodities will fluctuate the production cost, affecting the chlorine market growth,” says an FMI analyst.
Competitive Landscape
Leading chlorine producers innovate using various strategies and govern a major sector of the global chlorine market. They expand using key strategies, including collaborations, acquisitions, partnerships, and mergers. The new entrants might need to innovate to gain a better competitive landscape and more market space. Effective marketing, strategies, alliances, etc., can be effective strategies for them. The following key recent developments have occurred in the market:-
- In July 2021, Olin Corporation partnered with ASHTA Chemicals, Inc. The strategic partnership mainly aimed to boost both firms’ businesses using combined resources. Thus, the strategic move helped the firm bolster its international market position.
- In December 2023, BASF SE launched Irgastab PUR 71. It is an anti-oxidant to enhance regulatory compliance and performance for polyols and polyurethane foams. The main aim while designing the compound was to reduce environmental hazards. It has bolstered the organization’s market position.
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Top Key Players in the Chlorine Market
- BASF SE
- Olin Corporation
- The Dow Chemical Company
- Occidental Petroleum Corporation
- Ercros
- PPG Industries
- Hanwha Chemical Corporation
- Formosa Plastics Corporation
- De Nora
- Ineos Group Ltd
- INOVYN
- Tata Chemicals Limited
- Xinjiang Zhongtai Chemicals Co. Ltd
- Tosoh Corporation
More Valuable Insights Available
Future Market Insights offers an unbiased global chlorine market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The subject market is segmented by Application (Isocyanates and Oxygenates, EDC/PVC, Inorganic Chemicals, Chloromethanes, Solvents and electrolysis, Pharmaceuticals, and Electronics) and by End Use (Paper and Pulp, Water Treatment, Chemicals, Plastics, Pesticide, and Durable Pipes).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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