North America Chlor-alkali Market Size, Investment Feasibility and Industry Growth Rate Forecast 2024
The rapidly growing chemical industry is projected to play a vital role in supporting demand. The demand for chlor-alkali products indirectly depends on conditions in downstream end-use industries. The North America Chlor-Alkali Market is expected to reach USD 19.63 billion by 2024, according to a new report by Grand View Research, Inc. Increased use of chlorine based products in the day-to-day items such as soaps & detergents, textiles, glass, etc. is expected to drive the product demand over the forecast period. Chlorine is helpful in water treatment and is also used to manufacture chlorinated paraffin wax. Environmental impact in the form of mercury emission is expected to emerge as a major restraint for the market. Cutting down mercury as well as carbon emissions is expected to pose a challenge to manufacturers. The extremely energy intensive manufacturing process of the product is also assumed to hinder growth. Key companies operating in the industry focus on process innovat