Growth drivers like soaring demand for polyvinyl chloride and increasing consumption of chlorine for water treatment applications will escalate the market for chlorine at a CAGR of 5.2% during 2020–2030. The market stood at $36,845.0 million in 2019 and it is projected to reach $63,121.6 million by 2030. Moreover, the adoption of this compound for treating water used for irrigation purposes and swimming pools, is increasing. Additionally, governments across the world are taking initiatives to regulate the supply of safe, treated, and clean water, thereby, facilitating the market growth.
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The widescale applications of PVC in siding and piping in the building and construction sector, windshield system components in the automotive industry, and non-breakable containers in the medical industry will fuel the chlorine market in the foreseeable years. Increasing utilization of PVC in several end-use industries can be owed to the various advantageous features of PVC such as high melt viscosity and improved thermal stability. The production of PVC requires high volume of chlorine during the chlorination process, which, in turn, drives the demand for the compound.
The application type segment of the market is categorized into ethylene dichloride (EDC)/PVC, solvents, inorganic chemicals, chloromethanes, and isocyanates & oxygenates. Among these, the EDC/PVC category dominated the market in 2019 and it is expected to continue its dominance throughout the forecast period. This is ascribed to the widescale application of chlorine in the chlorination process for the production of EDC/PVC. With the amplifying demand for EDC/PVC in end-use sectors like building and construction, electrical and electronics, and automotive, the demand for this chemical will rise in the coming years.
Geographically, Asia-Pacific generated the highest revenue in the chlorine market in 2019, and it is expected to maintain its dominance in the forecast period as well. This can be ascribed to the high-volume consumption of chlorine in emerging economies of India, Thailand, and China for the production of EDC/PVC. These products are mostly used in the electrical and electronics, automobile, and building and construction sectors. Moreover, the amplifying usage of the compound in water treatment plants and pharmaceutical industry will give an impetus to the regional market growth.
Thus, the rising awareness regarding water-borne diseases and the increasing usage of PVC in several end-use industries will fuel the demand for chlorine in the future.
Read More: https://www.psmarketresearch.com/market-analysis/chlorine-market
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