Global Chlorine Market - Segmented by Application, Production Process, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)
The global chlorine market is expected to witness a CAGR of approximately 4.8%, during the forecasted period. The major factor driving the market is the growing demand for chlorine from pharmaceutical and agrochemical industries.
Growing Usage in Pharmaceutical Industry
Chlorine is one of the most vital industrial chemicals, which is used in various end-user industries. There has been a tremendous increase in the demand for chlorine from the pharmaceutical industry. This is majorly owing to the requirement of chlorine as a key ingredient in medical drugs. These medical drugs containing chlorine are prescribed for treating a number of diseases and conditions which include inflammation, epilepsy, asthma, high blood pressure, and anemia. There has been an enormous growth in the number of general health issues arising globally. Therefore, the demand for chlorine from the pharmaceutical sector shall drive the market for chlorine during the forecast period.
EDC/PVC Dominates the Market
Chlorine is required for various applications including in water treatment chemicals, organic and inorganic chemicals, and in PVC. It is expected that the maximum demand for chlorine shall arise from the PVC segment. This is owing to the large amount of chlorine required as a raw materials in PVC. The growing demand for polyvinyl chloride is expected to boost the demand for chlorine. This, in turn, shall benefit the market for chlorine during the forecast period.
Asia-Pacific is the Dominating Region
In terms of consumption in 2017, Asia-Pacific held the largest share. The consumption levels of chlorine in the countries including China, India, and Indonesia are expected to rise at a great pace owing to the increasing demand from the end-user industries including chemical, and pharmaceutical sector. Additionally, growing healthcare concerns have led to a rise in investments in the medical sector. This, in turn, shall further augment the growth of chlorine market during the forecast period.
Key Developments in the Market
October 2017: AkzoNobel is planning for further expansion of chloromethanes capacity in Germany
Major Players – AkzoNobel NV, BASF SE, Olin Corporation, Tata Chemicals Limited, and DowDuPont amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating process type and filler used in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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