According to the recent research report titled ‘Global Chlor-Alkali Market Size study, by Type (Caustic Soda (Alumina, Chemicals, Textiles, Soaps & Detergents), Chlorine (EDC/PVC, Isocyanates, Propylene Oxide, C1/C2 Aromatics), Soda Ash (Glass, Water Treatment, Metallurgy, Pulp & Paper)) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global chlor-alkali market garnered a valuation of USD 60.7 billion in 2020 and is projected to exhibit 4.1% CAGR over 2021-2027, subsequently accruing USD 80.4 billion by the end of the forecast period.
 

The growth of global chlor-alkali market is primarily driven by surging demand for water & wastewater treatment in several end-use industries along with escalating demand for organic and inorganic chemicals.
 

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For the unversed, chlor-alkali is a process that involves electrolysis of brine to produce chlorine and sodium hydroxide, which is then utilized in various applications including pharmaceuticals, inorganics, organics, soaps, and detergents. The process is widely employed in the chemical processing sector, leading to high demand of products from chemical sector.
 

Citing an instance, Olin Corporation reached an agreement with ASHTA Chemicals Inc. (US) in July 2021, to acquire and sell chlorine produced in ASHTA's Ohio factory within the U.S. Thus, similar strategic actions undertaken by other businesses in the vertical are anticipated to propel worldwide chlor-alkali industry expansion.
 

On the contrary, the negative environmental impact of chlor-alkali chemicals may hamper the remuneration scope of the industry over the study period.
 

Geographically, the report profiles regions such as Latin America (Mexico, Brazil), Europe (Italy, Spain, France, Germany, the United Kingdom), North America (Canada, the United States), and Asia Pacific (Australia, Japan, India, China) for the analysis of the overall industry.
 

Of these, North America currently accounts for significant marketplace share, owing to growing emphasis of various industries on emerging markets in the region.
 

On the other hand, Asia Pacific industry share is poised to witness notable growth by the year 2027, creditable to escalating demand from several application and rapid urbanization.
 

Key players operating in global chlor-alkali market sphere are Nirma Ltd., Hanwha Solutions Corporation, Tosoh Corporation, Solvay S.A., Formosa Plastics Corporation, Occidental Petroleum Corporation, Tata Chemicals Ltd., Westlake Chemical Corporation, Olin Corporation, and Dow Inc.