key strategies adopted by key players to achieve growth in Chlor-Alkali Market
Posted by Robin White on September 25th, 2019
Expansions and mergers & acquisitions were the key strategies adopted by industry players to achieve growth in the global chlor-alkali market. These two strategies together accounted for the largest share of all the strategies adopted by market players.
The global chlor-alkali market is estimated to reach USD 102.60 Billion by 2021, registering a CAGR of 5.4%.
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Some of the leading chlor-alkali manufacturers are Olin Corporation (U.S.), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.).
Besides expansions and merger & acquisitions, companies adopted joint ventures and agreements to expand their market share and distribution network. These strategies accounted for a small share of the total number of growth strategies adopted by the market players in the chlor-alkali market between 2013 and 2015.
Solvay, Olin, Tata Chemicals, and AkzoNobel are some of the global market players who expanded their production facilities and entered into various agreements between 2012 and 2015 for expanding their market reach. During the same time period, Tosoh, Tronox, and Olin entered into various mergers & acquisitions. Tronox is also the largest natural soda ash producer globally and with the acquisition of FMC Corporation it is one of the market leaders.
Tosoh entered into one merger and one acquisition in 2014 and 2015, respectively. In 2015 it acquired shares of Mabuhay Vinyl Corporation (Philippines) to increase its integrated supply of vinyl isocyanate and also penetrate into the growing Philippines market. The company also engaged with Nippon Polyurethane Co. Ltd. (Japan) to cope up with the domestic challenge. These moves will help the company to mark a greater presence in the Asia-Pacific region.
Solavy was very active in expanding its global footprint by expanding its facilities in the U.S. and Thailand. In Thailand, the company has Asia’s largest sodium bicarbonate plant. Solvay also expanded its Wyoming facility in the U.S. for soda ash. The expansion is expected to increase the manufacturing capacity of the plant by 150 kilotons to meet the growing demand from its U.S. export markets.
