Chlor-alkali Market to Cross Valuation of US$ 100 Bn by 2030, Says
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– Rise in demand for caustic soda with free flowing and high abrasion resistance properties is fueling the growth avenues in the global chlor-alkali market
– Chlor-alkali manufacturers from India are growing efforts to spread awareness on hazardous reactions of handling the product. They are also providing guidance on precautionary measures to avoid such reactions.
ALBANY, N.Y., Feb. 7, 2022 /PRNewswire/ — According to analysts at Transparency Market Research (TMR), the global chlor-alkali market is estimated to expand at a CAGR of 4.4% during the forecast period from 2020 to 2030.
Caustic soda is being increasingly used in the manufacturing of aluminum. In the recent years, companies from different end-use industries are increasing the demand for caustic soda that offers high abrasion resistance and free flowing properties. Hence, enterprises in the chlor-alkali market are increasing the use of next-gen production technologies in order to cater to the rising product demand.
Several companies in the global chlor-alkali market growing efforts to offer customized packaging solutions. Such efforts are helping enterprises to fulfill urgent and unexpected supply demands, thereby strengthening their credibility credentials. Moreover, several companies in the chlor-alkali market are focusing on surfactants and biodiesel production in order to boost their revenues. Hence, the global chlor-alkali market is prognosticated to cross US$ 100 Bn by 2030, according to the research report by TMR on the chlor-alkali industry.
Leading companies operating in the chlor-alkali market are executing different strategies, including partnerships, collaborations, mergers, and acquisitions to maintain their prominent market positions. Furthermore, several enterprises in the chlor-alkali market are tapping avenues in different sectors, including pharmaceuticals and viscose staple fiber.
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The chlor-alkali market in Asia Pacific is expected to maintain its dominant position during the forecast period. Swift industrialization and urbanization in many nations, including China and India, have resulted in a surge in construction activities for residential, industrial, and commercial purposes. As a result, there is sizable growth in the demand for PVC and glass wherein chlor-alkali is extensively used. This factor, in turn, is propelling the Asia Pacific chlor-alkali market.
India is estimated to play a key role in the Asia Pacific chlor-alkali market during the forecast period, as the nation is one of the important manufacturers of alkali chemicals, including bleaching solutions, sodium hypochlorite, and chlorine, which find wide application in different disinfection solutions.
Chlor-alkali Market: Key Findings
Handling chlor-alkali without necessary precautions may result in hazardous reactions. Hence, the Alkali Manufacturers Association of
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