The need for water treatment across the globe has risen substantially across the globe, which can be attributed to the surging population and increased water pollutions, owing to industrialization. Moreover, the awareness regarding drinking untreated water is increasing rapidly in a number of emerging economies, such as Thailand, Brazil, and India. Drinking untreated water can cause various diseases, such as Hepatitis A, cholera, typhoid, and hepatitis B. it is due to such factors that the demand for water treatment has been rising rapidly.
These factors are further resulting in the growth of the global chlorine market. Since chlorine has the ability to kill bacteria and pathogens at very early stage and thereby, preventing the spread of water-borne diseases, it is being increasingly utilized in water treatment applications. In addition to this, chlorine is also being adopted for treating water for irrigation purposes. Other than in the water treatment industry, chlorine is also utilized for the production of PVC.
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The chlorine market is projected to reach a value of $63,121.6 million in 2030, increasing from $36,845.0 million in 2019, and is predicted to witness a 5.2% CAGR during the forecast period (2020–2030). On the basis of application, the market is categorized into chloromethanes, ethylene dichloride (EDC)/polyvinyl chloride (PVC), solvents, isocyanates & oxygenates, and inorganic chemicals. Among all these the EDC/PVC category held the largest share of the market in 2019, owing to the high volume consumption of chlorine during the chlorination process for manufacturing EDC/PVC.
Geographically, the Asia-Pacific region accounted for the major share of the chlorine market in 2019, and it is further projected to dominate the market in the near future as well. The increasing demand for chlorine in countries including India, China, and Thailand for water treatment applications, EDC/PVC production, and from pharmaceutical sectors is leading to the growth of the regional domain. The region is expected to grow at the fastest pace during the forecast period.
Hence, the market is registering growth due to the increasing need for treated water and rising demand for PVC.
Read More: https://www.psmarketresearch.com/market-analysis/chlorine-market
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