The global chlorine market is expected to reach USD 39.31 billion by 2024, according to a new report by Grand View Research, Inc. Chlorine serves as an important raw material in various chemical industries. It is also an essential ingredient for PVC production, which has observed increasing demand in construction, automotive, and packaging industries. These factors are anticipated to drive the global chlorine market.
Increasing demand for chlorine across various industries for manufacturing intermediate products such as hydrochloric acid, chlorides, etc. is expected to be a key factor influencing the market growth.
Price fluctuations due to uneven demand and supply particularly in Asia Pacific are expected to pose challenges to key industry participants in the region. Chlorine is highly reactive when it comes in contact with other materials which increase handling risk. Toxicological nature of chlorine also adds up to the market challenges.
EDC/PVC was the largest application segment and accounted for 34.5% of global demand in 2015. Escalating PVC demand in construction industry is expected to drive this segment over the forecast period. It is also expected to witness the highest growth of 4.8% over the forecast period.
Browse Full Research Report On Chlorine Market: http://www.grandviewresearch.com/industry-analysis/chlorine-market
Further key findings from the report suggest:
- Global chlorine market demand was 71.26 million tons in 2015 and is expected to reach 104.70 million tons by 2024, growing at a CAGR of 43% from 2016 to 2024
- Asia Pacific was the leading regional market and accounted for 56.6% of total market volume in 2015. Increasing construction spending in China, India, Indonesia and Thailand is expected to drive the regional market over the forecast period. The region is also expected to witness the fastest growth of 4.7% over the forecast period due to incessant demand for chlorine in construction as well as chemical industry.
- North America is expected to witness moderate growth mainly on account of recovery of construction in industry in the U.S. The region is expected to grow at an estimated CAGR of 4.2% from 2016 to 2024.
- Key market players include Hanwha Chemical Corporation, Ineos Group Ltd., The Dow Chemical Company, Tosoh Corporation, PPG Industries, Tata Chemicals Ltd., BASF SE, FMC Corporation, Olin Corporation, Formosa Plastics Corporation, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemicals Co. Ltd., and Nirma Ltd.
Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals
Grand View Research has segmented the global chlorine market on the basis of application and region:
Global Chlorine Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2024)
- Organic Chemicals
- Inorganic Chemicals
- Chlorinated Intermediates
- Propylene Oxide
- Pulp & Paper
- C1/C2, Aromatics
- Water Treatment
Global Chlorine Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2024)
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Central & South America
Access Press Release of this Report: http://www.grandviewresearch.com/press-release/global-chlorine-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com