The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global chlorine compressors market is expected to reach USD 83.7 million by 2025, according to a new report by Grand View Research, Inc. Chlor-alkali products have been witnessed a rising demand in various end-use industries. This is in turn expected to foster the demand for chlorine compressors over the forecast period. Chlorine is an integral part of chemical industry, being an important basic inorganic chemical along with fluorine and bromine.
Chemical leasing is expected to be a plausible restraint for chlorine industry in the near future. In chemical leasing model, the responsibility of chemical manufacturers not only includes manufacturing chemicals, but also includes the manufacturer is also responsible for its disposal. Chemical leasing was introduced with the help of the government of Austria and implemented in 2014 by the United Nations Industrial Development Organizations (UNIDO).
As per the UNIDO mandate, companies have to bear the cost of recycling the chemicals that they manufacture. By this process, the profit margins may decrease, which will eventually decrease the market size, thereby reducing the number of producers in the value chain. These regulations related to chlorine are likely to pose a challenge to chlorine compressor manufacturers.
Major market participants, such as Gardner Denver Nash LLC. and Mikuni Kikai Kogyo Co., Ltd., have established themselves as manufacturers and suppliers. Small enterprises enter the market space by establishing themselves as dealers. These dealers facilitate key manufacturers to display their products in new markets, thus saving on facility costs.
Further key findings from the report suggest:
- The chlorine compressor market is expected to reach a demand of 6,466 units by 2025, growing at an estimated CAGR of 1.6% over the forecast period
- The liquid ring compressor segment is expected to have the largest consumption in chlorine compressor market
- Liquid ring compressors are expected to have a higher demand than centrifugal compressors owing to their ability to handle chlorine in liquid state
- Asia Pacific is anticipated to hold the largest market share
- Availability of a mature chlorine production infrastructure coupled with the proposed capacity addition to cater to PVC industry demand in Asia Pacific is expected to positively influence the demand for chlorine compressors in the coming years
- The U.S. is expected to record the highest demand for chlorine compressors owing to the presence of mature chlor-alkali market over the forecast period