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"Global Trichloroethylene and Perchloroethylene Market was valued at US$ XX Mn in 2019 and it is Anticipated to Exhibit a CAGR Of 1.1% During the Forecast Period."
The Trichloroethylene and Perchloroethylene market growth is dependent upon the manufacturing industry in the developing countries impacted substantially to its demand in metal and metal components in different end-user industries. These end-user industries include automobiles, electrical & electronics, and construction where there is a requirement of Trichloroethylene and Perchloroethylene. Countries such as China, India, and Brazil had been considered as key exporters of metal components worldwide. It is projected to increase the demand for cleaners and degreasing chemicals that stimulates its market growth. Such market trends are positively influencing the growth of trichloroethylene and perchloroethylene products in developing countries.
Enforced eco-friendly policies in the developed region led to increase research & development activities for alternatives to Trichloroethylene and Perchloroethylene. Trichloroethylene and perchloroethylene being regulated had led to reduced consumption of these products. Companies are shifting their manufacturing towards research & development for substitute products to perchloroethylene and trichloroethylene for exploring solvents that are eco-friendly in nature. Such advents in the Trichloroethylene and Perchloroethylene Market are introducing offerings that are technologically advanced. There is a higher significance in the degreasing the industrial equipment by the application of C2-chlorinated solvents including trichloroethylene and perchloroethylene products. Therefore there is considerable importance to commercial activities. Utilization of these solvents has negatively influenced by a decrease in the emissive applications led by regulatory policies of the 1987 Montreal Protocol on ozone-depleting chemicals, and the 1997 Kyoto Protocol on global warming and climate change had considerably influenced its market demand.
By Application, the Hydro Fluorocarbon Refrigerants Segment is anticipated to the High Demand during the Forecast Period.
Global trichloroethylene and perchloroethylene market are categorized into degreasers, hydro fluorocarbon refrigerants, spot-removal solvents, etc. The hydro fluorocarbon refrigerant has a higher potential of market growth in contrast to the other categories accounting for ~ 30% of trichloroethylene and perchloroethylene market globally. Perchloroethylene is generally utilized as a basic raw material in the production of hydro fluorocarbon (HFC) 134a, which is introduced as a substitute for chlorofluorocarbon (CFC) refrigerants. The Perchloroethylene is used for the synthesis of hydro chlorofluorocarbons (HCFCs) 123 and 124, and HFC 125. Another element Trichloroethylene is employed as a medium for the manufacturing of refrigerants including HFCs and HCFCs. This is also employed as a component in solvents of metal degreaser applications.
The Market in the Asia Pacific Accounted for the Largest Share in 2019 and is Expected to Remain Dominant during the Forecast Period.
Regulatory frameworks imposed by China and India limit the application of trichloroethylene and perchloroethylene. It is especially by the highly toxic and environmental hazards nature of Trichloroethylene and Perchloroethylene components. Regional consumption of trichloroethylene and perchloroethylene in China and India is expected for a positive growth trend. But the rest of the regions worldwide have observed a decline in the trend of trichloroethylene and perchloroethylene market during the forecast period. The application of trichloroethylene and perchloroethylene is observed decreasing in the North American region in recent years. The North American region is a net exporter of these chlorinated solvents in recent years. As per the European Chlorinated Solvents Association (ECSA), the production and application of trichloroethylene and perchloroethylene in the European region are declining. The application of trichloroethylene and Perchloroethylene has reduced since the last few decades, by progress in operating conditions, contributing to good solvent recovery, and increased use of other solvents used 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.
Key segment of Trichloroethylene and Perchloroethylene market:
- Trichloroethylene (TCE)
- Degreasing & General Purpose Grade
- Fluorocarbon Grade
- High-purity Grade
- Others (Custom Grade)
- Perchloroethylene (PCE)
- Degreasing & General Purpose Grade
- Fluorocarbon Grade
- Dry Cleaning Grade
- Others (Catalyst/Refinery Grade and Custom Grade)
- Hydrofluorocarbon Refrigerant
- Spot-removal Solvent
- Others (including Asphalt Testing, Insecticides, and Weed Killers)
- North America
- Asia pacific
- Middle east and Africa
- Latin America