The Europic Chloride Market Size was estimated at 11.89 (USD Billion) in 2022.The Europic Chloride Industry is expected to grow from 12.56(USD Billion) in 2023 to 20.5 (USD Billion) by 2032. The Europic Chloride Market CAGR (growth rate) is expected to be around 5.6% during the forecast period (2024 - 2032).
Key Europic Chloride Market Trends Highlighted
The Europic chloride market is projected to witness significant growth owing to increasing demand from various end-use industries such as chemical, pharmaceutical, and food processing. Stringent government regulations mandating the use of europic chloride in water treatment plants and swimming pools are further driving market growth. The market is expected to witness technological advancements, such as the development of more efficient production processes and novel applications in emerging sectors. Evolving trends include the growing adoption of europic chloride as a substitute for sodium chloride in various applications and the increasing focus on sustainability and environmental protection, which is driving demand for green and eco-friendly europic chloride production methods.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europic Chloride Market Drivers
Increasing Demand from the Chemical Industry
Europic chloride is a versatile chemical compound, and its applications in the chemical industry are already vast. First and foremost, it is mainly used as a raw material in the production of polyvinyl chloride, a type of plastic resin that is appropriate for the manufacture of pipes, fittings, flooring and other items. To put it simply, the increased demand for PVC plastic appears to be the primary driver of the growth of the Europic chloride market.It should also be mentioned that this type of chloride can be used for other purposes, such as the production of hydrochloric acid, chlorine, and sodium hypochlorite. These chemicals are also in demand in numerous other industries, including, but not limited to, water treatment, pulp and paper and textile. Overall, the Europic chloride market is growing, and chemical industries are its main customers.
Expansion of the Pharmaceutical Industry
The pharmaceutical industry represents another significant driver of growth for the Europic chloride market. Europic chloride is widely employed as an excipient in pharmaceutical formulations, acting as a stabilizer, buffer or osmotic agent. The growing prevalence of chronic diseases and the increasing demand for generic drugs are fueling the expansion of the pharmaceutical industry, which, in turn, is driving the demand for Europic chloride. Additionally, the use of Europic chloride in the production of active pharmaceutical ingredients (APIs) is also contributing to the market's growth.
Growing Environmental Concerns
Environmental regulations and sustainability initiatives are also playing a role in shaping the Europic chloride market. Europic chloride is an essential component in flue gas desulfurization systems, which are employed to reduce sulfur dioxide emissions from power plants and industrial facilities. The increasing adoption of these systems, driven by stricter environmental regulations, is bolstering the demand for Europic chloride. Furthermore, the use of Europic chloride in water treatment processes for removing heavy metals and other contaminants is gaining traction, further contributing to the market's growth.
Europic Chloride Market Segment Insights
Europic Chloride Market Type Insights
The Europic Chloride Market is segmented by Type into Industrial Grade, Food Grade, and Pharmaceutical Grade. The industrial Grade will take the largest market share in 2023 with around 60% of market revenue. The reason is attributed to the fact that Europic Chloride is predominantly used in various industrial applications that range from the manufacture of plastics, dyes and fertilizers. In the future, the Food Grade segment is expected to grow with a higher CAGR as the demand for the Europic Chloride for use as a food additive/ preservative increase.Nevertheless, the Pharmaceutical Grade segment will continue to take a much smaller share of the market but grow with a CAGR of around 3% from 2023 to 2032 as more and new drugs are developed in light of the strong pipeline for Europic Chloride. From the Type segment of the Europic Chloride Market, the following key insights are drawn: The Industrial Grade segment will remain the major segment throughout the period as the manufacturing sector continues to grow. The food-grade segment will grow with a higher CAGR compared to the industrial-grade segment. Thus, it will hold a very substantial market share beyond 2030.The Pharmaceutical Grade segment will remain weaker in relation to the Industrial Grade and Food Grade but grow with a CAGR of around 3% between 2023 and 2032. The distribution of the market across various regions indicates that the market for Europic chloride is expected to grow in all regions. However, the fastest-growing region is expected to be the Asia Pacific. The major players in the Europic Chloride Market include Solvay, INEOS, and Tata Chemicals.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europic Chloride Market Form Insights
The market is segmented by form into anhydrous and solution. It ought to be noted that the anhydrous segment is highly likely to emerge as a prominent share holder of the market in 2023. This is likely to happen because of the outstanding breadth of applications and its numerous uses in a variety of different industries including chemical manufacturing, food processing as well as pharmaceuticals. The solution segment, it ought to be noted, should also continue to make strides in the ten-year period and present steady growth driven primarily by an increasing prevalence of use in a number of water purifications and wastewater treatment applications.Reasons for growth in demand include a growing demand for the product’s use in chemical manufacturing, food processing and pharmaceuticals.
Europic Chloride Market Application Insights
The Europic Chloride Market segmentation by Application is categorized into Chlorine Production, Polyvinyl Chloride (PVC) Production, Food Additives, Pharmaceuticals and Water Treatment. The Chlorine Production segment accounted for the largest revenue share in 2023, and it is expected to continue its dominance throughout the forecast period. The growth of this segment is attributed to the increasing demand for chlorine in various industries, including water treatment, chemical manufacturing, and pulp and paper production. The Polyvinyl Chloride (PVC) Production segment is another major revenue contributor to the Europic Chloride Market.PVC is a versatile material used in a wide range of applications, including pipes, fittings, flooring and window frames. The demand for PVC is expected to grow in the coming years, driven by the increasing construction activities in emerging economies.
Europic Chloride Market Regional Insights
The Europic Chloride Market segmentation by region includes North America, Europe, APAC, South America and MEA. The market growth in North America is driven by the increasing demand for europic chloride in various industries such as oil and gas, chemical and food and beverage. Europe is expected to witness significant growth due to the growing demand for europic chloride in the construction industry. The APAC region is projected to be the fastest-growing market due to the increasing construction activities and the rising demand for europic chloride in the automotive industry.South America is expected to experience steady growth due to the increasing demand for europic chloride in the mining and agriculture industries. The MEA region is projected to witness moderate growth due to the increasing demand for europic chloride in the oil and gas industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europic Chloride Market Key Players And Competitive Insights
Leading players in the Europic Chloride Market industry are increasingly trying to strengthen their competitive advantage by investing in research and development, expanding their product portfolios, and taking advantage of partnerships. The leaders of the Europic Chloride Market industry are focused on innovation to meet customer demands and outperform their rivals. As such, the level of competition in the Europic Chloride Market is high because many established and new actors are working to secure their presence. Future trends indicate that the level of competition in the Europic Chloride Market will be even stronger as the market grows further.BASF SE is a prominent company in the European chloride Market as it has a large geographic presence and a broad range of products. The organization has made significant inceptions in research and development to produce a more sophisticated range of products and serve a broader customer audience. BASF SE has always put an emphasis on innovation and customer experience, and these strategically relevant factors have sustained the company’s leadership role in the Europic Chloride Market.Another relevant company in the Europic Chloride Market is INEOS Group. As the company is concerned about its environmental impact, it has concentrated its efforts on green manufacturing. Furthermore, the company can boast its broad product range that is highly valued by the customers. INEOS Group’s relevant achievements in the Europic Chloride Market are facilitated by the company’s global reach and numerous partnerships.
Key Companies in the Europic Chloride Market Include
Europic Chloride Market Industry Developments
The Europic Chloride Market is anticipated to witness steady growth over the forecast period from 2024 to 2032, with a growing demand for various applications in industries such as pharmaceuticals, food and beverages, and water treatment. Increasing awareness regarding the use of Europic chloride in the production of polyvinyl chloride (PVC), a versatile plastic material, is expected to drive market growth. Moreover, rising investments in infrastructure and construction activities are likely to fuel the demand for Europic chloride as a key component in building materials.Recent developments in the market include the expansion of production capacities by major players to meet the growing demand. Strategic partnerships and collaborations among manufacturers and distributors are also expected to shape the market landscape. Technological advancements, such as the development of more efficient and eco-friendly production processes, are likely to further enhance the market's growth prospects.
Europic Chloride Market Segmentation Insights
Europic Chloride Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 11.89(USD Billion) |
| Market Size 2023 | 12.56(USD Billion) |
| Market Size 2032 | 20.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.6% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Tosoh Corporation, Shandong Dongda Chemical Co. Ltd., Shandong Haihua Chemical Co. Ltd., Nouryon, Innophos Holdings Inc., Hubei Xingfa Chemicals Group Co. Ltd., ICL Group, Olin Corporation, Tronox Limited, Chemours Company, SRF Limited, Qingyuan Chemical Co. Ltd., Dow Chemical Company, AkzoNobel, FMC Corporation |
| Segments Covered | Type, Form, Application, Regional |
| Key Market Opportunities | 1.      Escalating Demand 2.      Technological Advancements 3.      Expanding Food Industry 4.      Growing Demand from Water 5.      Treatment Increasing 6.      Industrial Applications |
| Key Market Dynamics | 1.      Rising demand for water treatment 2.      Growing applications in pharmaceuticals 3.      Surge in the construction sector 4.      Environmental regulations 5.      Technological advancements |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Europic Chloride Market was expected to have an overall valuation of 12.56 billion USD in 2023.
The Europic Chloride Market is expected to have an overall valuation of 20.5 billion USD in 2032.
The Europic Chloride Market is expected to grow at a CAGR of 5.6% from 2024 to 2032.
Europic Chloride is primarily used in the production of polyvinyl chloride (PVC), a versatile plastic material used in a wide range of applications, including pipes, fittings, flooring, and packaging.
Key competitors in the Europic Chloride Market include INEOS, Solvay, Dow, and Occidental Petroleum.
The Europic Chloride Market is segmented into five key regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.
The Asia-Pacific Europic Chloride Market is expected to grow at a CAGR of 6.2% from 2023 to 2032.
The European Europic Chloride Market is expected to grow at a CAGR of 4.8% from 2023 to 2032.
The North American Europic Chloride Market is expected to grow at a CAGR of 4.2% from 2023 to 2032.
The Latin American Europic Chloride Market is expected to grow at a CAGR of 5.5% from 2023 to 2032.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
