Global Chlorine Market: Snapshot
The global chlorine market is foreseen to draw a handsome growth owing to well-paid applications such as ethylene dichloride (EDC)/polyvinyl chloride (PVC), aromatics, propylene oxide, isocyanates, and chlorinated intermediaries. Prophesied to account for a higher consumption of chlorine, EDC/PVC could be highly demanded in the prospering construction sector. Asia Pacific is foretold to be a choice market for capacity expansion, taking in view the rising demands from the booming chemicals sector and plastics industry. Increasing residential requirements in India and China could script the growth of business prospects in the market.
The global chlorine market is predicted to rise at a 6.5% CAGR to achieve a US$42.7 bn by the completion of 2023. In 2017, the market earned a US$31.1 bn.
Vinyls to Collect Massive Revenue Growth in Billions by Closure of 2023
The world chlorine market is prognosticated to see a classification into vinyls, organic chemicals, water treatment, and chlorinated intermediates, as per the segmentation by end use. By the end of the forecast period, vinyls could account for a king’s share in the market while earning a revenue of US$19.5 bn.
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On an annual basis, this end-use segment is estimated to expand at a US$1.0 bn between 2017 and 2023. The absolute growth garnered by the segment could be greater than any other in the same segmentation class. The dominance of vinyls in the market could be witnessed throughout the course of the forecast period.
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A proper study of various segmentations of the world chlorine market is envisioned to play an important role in the advancement of players in the foreseeable future. Buyers of the report could be able to understand the growth of each critical segment in advance and accordingly prepare their strategies for future progress in the market.
APEJ Nominated Larger Revenue Getter Ahead of North America, Europe
On the basis of regional segmentation, the international chlorine market is anticipated to award Asia Pacific except Japan (APEJ) for its matchless revenue growth in the coming years. By 2023 end, the region could rake in a US$23.0 bn. It is envisaged to be one of the most lucrative regions for the market. The dominance of APEJ could continue to take shape even until the final forecast year.
Next on the list of most attractive markets for chlorine could be North America with a US$7.4 bn approximated to be earned by 2023. Japan is projected to expand at a CAGR of 6.1%, which could be close to that of North America. With an absolute revenue prospect of US$1.2 bn expected to be achieved during the forecast timeframe, Europe could be another region to look out for favorable opportunities. However, the Middle East and Africa (MEA) is forecasted to showcase a sluggish growth in the near future.
Some of the leading companies operating in the worldwide chlorine market could be 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.