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Global Trichloroethylene and Perchloroethylene Market it is Anticipated to Exhibit a CAGR Of 1.1% During the Forecast Period
The Trichloroethylene and Perchloroethylene market is relying on manufacturing companies belonging to the developing region that is influencing significantly on the market potential of metal and metal components by end-user companies. Such end-user companies constitute of automobiles, electrical & electronics, and construction where there is a requirement of Trichloroethylene and Perchloroethylene. China, India, and Brazil are considered to be exporters of metal components globally. It is anticipated for a moderate growth of demand for cleaners and degreasing chemicals that fuels its market growth. These market trends are considerably impacting positively on the growth of trichloroethylene and perchloroethylene products in developing economies.
Global Trichloroethylene and Perchloroethylene Market were valued at US$ XX Mn in 2018 and it is Anticipated to Exhibit a CAGR Of 1.1% During the Forecast Period.
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By Application, The Hydrofluorocarbon Refrigerant Segment Is Expected/Anticipated To The High Demand During The Forecast Period.
Global trichloroethylene and perchloroethylene market are distinguished as degreasers, hydrofluorocarbon refrigerants, spot-removal solvents, etc. The hydrofluorocarbon refrigerants have a greater market demand compared to other categories projected of ~ 30% of the trichloroethylene and perchloroethylene market globally. In the manufacturing of hydrofluorocarbon, the raw materials utilized for it constitutes of Perchloroethylene. The hydrofluorocarbons are being used as a substitute for chlorofluorocarbon (CFC) in refrigerants. The Perchloroethylene is used as a synthesis for hydrochlorofluorocarbons (HCFCs) 123 and 124, and HFC 125. Trichloroethylene acts as a medium when employed manufacturing of refrigerants including HFCs and HCFCs. This is also employed as an element of solvents utilized for a metal degreaser.
The Market In The Asia Pacific Accounted For The Largest Share In 2018 And Is Expected To Remain Dominant During The Forecast Period.
Countries in the Asia Pacific region have enforced regulatory policies such as China and India constrains the use of trichloroethylene and perchloroethylene. It is reduced in application due to the high toxicity and environmental hazards nature of Trichloroethylene and Perchloroethylene elements. The use of trichloroethylene and perchloroethylene in China and India are positively influencing its growth trend. The rest of the countries globally had exhibited a decline in the application of trichloroethylene and perchloroethylene during the forecast period. Usage of trichloroethylene and perchloroethylene are reduced in the North American countries in recent years. The North American region is one of the net exporters of chlorinated solvents. As per the European Chlorinated Solvents Association (ECSA), the manufacturing and application of trichloroethylene and perchloroethylene in the European countries is declining. The consumption of trichloroethylene and Perchloroethyelne are decreased since the last few decades, by the contribution of good solvent recovery choices, and rise in usage of other solvents for cleaning metal.
The Trichloroethylene and Perchloroethylene market is consolidated and has a significantly small number of players operating in its manufacturing globally. The competition between these companies is moderate.
Key players operating in the Trichloroethylene and Perchloroethylene manufacturing market are listed as follows: The Olin Corporation, AGC Chemicals, Befar Group Co., Ltd., Occidental Petroleum Corporation, SPOLCHEMIE, TOAGOSEI CO., LTD., Shandong Xinlong Group, Kanto Denka Kogyo Co., ACURO ORGANICS LIMITED, and Richard Geiss GmbH.
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