The global Chlorine Compressors market is witnessing significant growth, with a market size of USD 54.2 million in 2021 and projected to grow at a CAGR of 7.5 percent during the forecast period. The large-scale utilization of chlorine compressors in chlorine manufacturing plants, along with the increasing demand for chlorine in various industries, such as chemicals, water & wastewater treatment, oil & gas, and petrochemicals, are major contributors to the consistent revenue growth in the market. Furthermore, the expanding use of chlorine as a raw material in organic and inorganic chemicals is fostering an optimistic outlook for the market.
Read More:Â https://www.fairfieldmarketresearch.com/report/chlorine-compressors-market
Chemical Industry’s Remarkable Rise
One of the key elements driving the market’s growth is the significant rise in the chemical industry worldwide. Chlorine plays a crucial role as a necessary component in the production of organic and inorganic chemicals, particularly in the manufacturing of paper and pulp. Notably, countries like the United States and India have witnessed substantial chlorine production, with 10.94 million metric tonnes and 2.2 million metric tonnes of chlorine produced, respectively. India, in particular, stands as one of the world’s top producers of chemicals, manufacturing over 80,000 goods annually. The introduction of novel compressor versions with additional filtering units is also contributing to the market’s expansion, along with beneficial government policies and increased consumer spending power.
Booming Demand for PVC in Construction
The growing demand for polyvinyl chloride (PVC) in the construction and building industry is another significant factor fueling market expansion. The construction sector heavily relies on PVC, using more than 70% of the PVC produced. Advancements in chlorine compressor technology and the implementation of strict safety standards in chlorine manufacturing facilities further support the industry’s growth.
COVID-19 Impact
Despite the positive market outlook, the COVID-19 pandemic has had adverse effects on the chlorine compressor industry. The protracted lockdowns in major manufacturing nations, such as the United States, Germany, Italy, the United Kingdom, and China, have halted the production of several products in the industry, leading to a slowdown in market expansion. However, as the global situation stabilizes, it is expected that the market will resume its growth trajectory.
Drivers for Market Growth
The market growth is driven by various factors, including the surging wastewater treatment projects and government investments in research & development projects. The rise in global wastewater treatment projects has increased the demand for cleaning chemicals, consequently fueling the demand for chlorine and chlorine compressors. Government investments in R&D projects have led to the development of compressors with various capacities, driving market expansion.
Restraints to Market Growth
On the other hand, chemical leasing poses a potential limitation on the chlorine sector. Chemical manufacturers following the chemical leasing model are responsible for proper disposal of chemicals they produce, which may impact their profit margins and result in a smaller market and fewer producers throughout the value chain.
Segment Overview
Based on product type, the market is segmented into liquid ring compressors and centrifugal compressors. The liquid ring compressors dominate the market due to their ability to handle chlorine in a liquid state, offering improved safety, cost-effectiveness, and better handling of liquid chlorine.
In terms of end-use industries, the chemical industry segment holds the largest market share. The widespread use of chlorine in manufacturing organic and inorganic chemicals and its essential role in the chemical industry contribute to the segment’s dominance.
Regional Landscape
North America is expected to lead the market, driven by increased investments in developing sophisticated and high-end machinery, particularly in the end-use sectors. The Asia Pacific region is also experiencing stable revenue growth due to significant projects in countries like China and India, supporting the demand for chlorine compressors in various industries.
Competitive Landscape
Key players in the Chlorine Compressors market include Devi Hitech Engineers Pvt. Ltd., Sundyne, Gardner Denver Nash LLC, Elliott Group, RefTec International Systems LLC, Mayekawa Mfg. Co., Ltd., Mikuni Kikai Kogyo Co., Ltd., Charam Techno Chemical & Equipmen Ltd., and M. H. Industries.
Conclusion:
The Chlorine Compressors market is witnessing consistent growth, driven by the large-scale use of chlorine in various industries and the chemical industry’s remarkable rise. As the demand for PVC in construction and the need for wastewater treatment projects increase, the market is expected to expand further. However, challenges such as chemical leasing may hamper market growth. With North America leading the market and the Asia Pacific region showing stable growth, the future of the Chlorine Compressors market looks promising.
https://hackmd.io/@E4v1isUnROG4-prBVaQQGw/S1-PNm_oh
https://www.xamly.com/chlorine-compressors-market-trends-demands-and-forecast-2023-2030/
https://wikidocs.net/book/11250
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
