Chlorine Market to Rear Excessive Growth During 2022
The global chlorine market is forecasted to garner a strong growth in the near future with the rising demand for chlorine derivatives in a wide scope of applications such as paints and coatings, adhesives, food processing, plastic, cosmetic, pharmaceuticals, and water. The market demand could embrace an escalating boost due to the application of chlorine as a raw material in the manufacture of various chemicals. The mercury cell technology is foreseen to be completely dissolved by 2020 due to the gradual shift toward membrane technology because of strict regulations pertaining to mercury emission.
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As per the estimations of Transparency Market Research (TMR), the global chlorine market could reach a valuation of US$42.7 bn by 2022 end, progressing from a valuation of US$31.1 bn achieved in 2017. The market is projected to rise at a CAGR of 6.5% during the forecast period 2017–2022.
The global chlorine market is foretold to experience a spur in demand owing to the application of chlorine as a solvent in the pharma sector. As one of the fastest growing consumers of chlorine, polyvinyl chlorine (PVC) could ensure a greater growth in the market while riding on an increasing demand in sectors such as packaging, construction, and automobile. The growth of water treatment plants across the world as a necessity could augur well for the market since most of them use chlorine on a regular basis.
The international chlorine market is envisioned to be segregated according to end use, where key segments could be vinyls, organic chemicals, water treatment, and chlorinated intermediates. As per the publication, vinyls are expected to be counted as a market with a higher revenue share growing at a CAGR of 6.2% between 2017 and 2022. In 2017, it accounted for a US$14.4 bn. However, by the end of 2022, it could earn a US$19.5 bn. The percentage share anticipated for this market is 47.9% to be achieved by the concluding forecast year. Its annual growth could be greater than that of other segments by end use.
With respect to geographical classification, the international chlorine market is prognosticated to testify the superiority of Asia Pacific except Japan (APEJ) in view of revenue. This region could expand at a CAGR of 7.2% during the tenure of the forecast period, putting behind developed regions such as North America and Europe. Growing at a 6.4% CAGR, North America could create opportunities as it secured a US$5.4 bn in 2017. Running at a CAGR closer to this one, Japan could be valued at a US$3.9 bn by 2022. Latin America and the Middle East and Africa (MEA) are envisaged to be other regions of the market.
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The worldwide chlorine market is predicted to include key industry players such as Ercros S.A, Olin Corporation, BASF SE, PPG Industries, Occidental Petroleum Corporation, FMC Corporation, Hanwha Chemical Corporation, Ineos Group Ltd., Tata Chemicals Ltd., and Tosoh Corporation. Report buyers could take advantage of the clear and meticulous explanation of the market’s competitive landscape provided by the analysts.
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