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Chlorine is a chemical element with atomic number 17. The second lightest member of the halogen family, it is yellowish green in color and is in gaseous state at normal temperature. It is an extremely reactive element and acts as a strong oxidizing agent. It has highest electron-affinity and therefore readily reacts with other electron rich elements to form various compounds.
Chlorine is one of the versatile element use to produce variety of chemicals and other products. Increasing demand for chemical intermediates like hydrochloric acid, acid chlorides, hypochloric acid, metal chlorides, chloroform, and other chlorine derivatives is expected to boost the market growth. Additionally, increasing demand for EDC/PVC resins and products is anticipated to fuel market growth.
However, chlorine is highly toxic in nature. Exposure to chlorine gas can cause severe effects on respiratory track, eyes, and skin. Due to higher density than air it accumulates at the bottom of the space. Due to high oxidizing ability it can react with flammable materials. this is expected to hinder market growth.
Key Market Driver -
Increasing demand from various end-user industries.
Key Market Restraint -
Based on application, the global chlorine market is segmented into EDC/PVC, isocyanates and oxygenates, chloromethanes, solvents & epichlorohydrin, inorganic chemicals, and others. Based on end-user, is segmented into water treatment, pharmaceuticals, chemicals, paper & pulp, plastic, pesticides, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Chlorine market consists of global & regional players operating. Some of the key players in the market include Nouryon, BASF, Ercros S.A., Tata Chemicals, OLIN Corporation, Formosa Plastic Corporation, INEOS, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia pacific is anticipated to hold largest share in market attributed to the increasing demand for PVC from various end-user industries. Additionally, large manufacturing base for chemicals and materials in countries like China, India, Taiwan, Japan, Indonesia, South Korea and others is expected to boost market growth. North America is estimated to show substantial growth attributed to presence of large number of chemical industries. Europe is expected to show significant growth attributed to the increasing demand for chlorine derivatives from pharmaceutical sector. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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