Global Trichloroethylene Market Analysis
Growth of the global trichloroethylene market is attributed to increasing demand from developing countries such as China and India. Trichloroethylene is a chlorinated solvent primarily utilized in metal cleaning and vapor degreasing applications. Impressive solvency and high stability have made trichloroethylene an ideal choice in such applications.
Other bundled advantages such as non-flammability and ability to incorporate effective stabilizing systems during vapor degreasing operations are set to aid the expansion of the trichloroethylene market size over the forecast period of 2020 to 2030. Despite its exceptional solvency and cleaning efficiency, trichloroethylene is identified as carcinogenic in nature, which has restricted its demand to some extent in recent years.
Trichloroethylene Market Application Insights
Call to replace hydrochlorofluorocarbon-based refrigerants has fueled the demand for trichloroethylene during the historical period, and the scenario is projected to continue during the forecast period too. Rapid demand from the hydrofluorocarbon refrigerant sector has made it the largest consumer of trichloroethylene. Hydrofluorocarbon refrigerant application is projected to remain the growth epicenter, accounting for over three-fourth the global trichloroethylene market by 2030.
After hydrofluorocarbon production, trichloroethylene is highly utilized in metal cleaning and vapor degreasing applications, but increasing stringent regulations to restrict its exposure limit have affected its consumption. However, increasing demand from niche applications such as chemical processing, coatings, and adhesives are set to assist market growth.
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Regional Outlook of Trichloroethylene Market
East Asia is the largest trichloroethylene consumer in the world, and currently accounts for near half of the global consumption and trichloroethylene market share, which is around 151 kilo tons. This scenario is projected to continue due to China, as it’s the largest trichloroethylene consumer in the region and across the globe. China, being the largest hydrofluorocarbon refrigerant and automotive producer, has driven the consumption of trichloroethylene during the historical period.
Developed regions such as Europe and North America have reduced the consumption of trichloroethylene, owing to stringent regulations passed by the European Union and EPA. For instance, in Europe, trichloroethylene is classified as a category 2 carcinogen and has been banned in 2016, due to which, the European market will experience a declining growth rate.
Trichloroethylene Market Manufacturers
The global trichloroethylene market is highly consolidated in nature, where the top players currently account for over half of the sales. Currently, AGC Inc, Olin Corporation and Westlake Chemical Corporation, and Befar Group are key stakeholders in the trichloroethylene market space. Due to declining demand and increased legalizations, market players have remained conservative during the historical period.
Despite numerous legalizations, trichloroethylene is in demand in countries such as China, India, and the United States, owing to its high solvency and low cost. In order to meet the increasing demand from these regions, prominent players are offering a range of products for numerous applications. For instance, Olin Corporation and Westlake Chemical Corporation offer trichloroethylene for applications such as hydrofluorocarbon, metal cleaning, and vapor degreasing.
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COVID-19 Impact on Trichloroethylene Market
The coronavirus outbreak has brought the world to its knees, and forced people into lockdowns, which has affected the production and demand for trichloroethylene across the globe. Fear of coronavirus has forced countries to stop any kind of import-export across borders. Sudden industrial shutdowns and restricted transportation has crippled the global economy over the last few months. As per WHO and UN stats, loss caused due to the COVID-19 outbreak may take years to recover.
East Asia is the least affected region by the coronavirus outbreak and is poised to assist global market growth by the end of 2020. But, East Asia exports a huge amount of trichloroethylene to North America and other Asian countries, and halted import-export across borders due to the pandemic crisis may restrict market growth till the situation recovers.
Further, Europe and North America are the two prominent consumers of trichloroethylene, together accounting for significant demand in 2019. Along with leading trichloroethylene consumers, these are the most affected regions by the coronavirus outbreak, and account for nearly half of the global fatalities. The bad situation in these regions has impacted the growth of the global trichloroethylene market, which is poised to recover by the end of the year.
The Analyst’s Viewpoint
“In the midst of the COVID-19 pandemic, the global trichloroethylene market is poised to suffer a likely loss of US$ 25 Mn by the end of 2020”.
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Trichloroethylene Market: About the Report
Fact.MR published an exclusive forecast report on the trichloroethylene market for 2020 and 2030. The foremost objective of this report is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the trichloroethylene market. Also, the study on the trichloroethylene market addresses key dynamics that are expected to diversify the sales and future prominence of the trichloroethylene market.
The report on the trichloroethylene market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the trichloroethylene market, elaborating on key segments. Also, the report outlines visionary insights on dynamics of the trichloroethylene market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for trichloroethylene.
Supply chain analysis and pricing analysis of the trichloroethylene market along with the difference between trichloroethylene used as per application has also been included in the report, to help readers clearly understand the product framework map of the trichloroethylene market.
Trichloroethylene Market: Segmentation
Fact.MR has segmented the trichloroethylene market on the basis of function, grade, application, and region.
- Fluorocarbon Grade
- Degreasing & General Purpose
- Industrial Grade
- Metal Cleaning & Degreasing
- Chemical Processing
- Coatings and Adhesives
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
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Trichloroethylene Market - Scope of the Report
The trichloroethylene market study done by Fact.MR gives exclusive information about how the market will grow during the forecast period of 2020–2030. The study identifies crucial trends that are determining the growth of the trichloroethylene market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply of trichloroethylene. The report primarily conveys a summary of the market, considering the present and upcoming hydrofluorocarbon and metal cleaning chemical industry developments to reveal striking sides relating to the adoption of trichloroethylene across prominent regional markets.
A detailed assessment of market supply chain analysis, business execution, and value chain analysis across regional markets has been provided in the report. A list of prominent companies operating in the trichloroethylene market enhances the reliability of this comprehensive research study.
Trichloroethylene Market: Report Summary
The study offers an inclusive analysis on diverse features, including demand, revenue generation, and sales by key players in the trichloroethylene market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.
Trichloroethylene Market: Analysis on Market Size Evaluation
Existing predictions of the trichloroethylene market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.
Market estimation at regional and global scales of trichloroethylene is available in terms of value (US$ Mn) and in terms volume (Tons). A Y-o-Y growth contrast of prominent trichloroethylene market segments, along with market attractiveness valuation, has been incorporated in the report. Metrics mentioned above are also based on trichloroethylene types, where trichloroethylene witnesses steady demand.
Trichloroethylene Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on the trichloroethylene market, which deliver projections on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the trichloroethylene market during the forecast period.
Country-specific valuation on the demand for trichloroethylene has been offered for each regional market, along with market scope estimates and forecasts, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Trichloroethylene Market: In-depth Analysis on Competitive Landscape
The report offers a competitive scenario of the trichloroethylene market, along with the profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers who are principally engaged in the production and supply of trichloroethylene has been presented with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits readers to take preemptive steps in advancing their businesses.
Company profiles have been combined in the report, which exert essentials such as form portfolio, along with all-inclusive SWOT analysis on each player. Company presence has been mapped and presented through a matrix for all prominent players functioning in the trichloroethylene market. It offers actionable insights to readers, which helps in thoughtfully presenting market status, and predicting the competition levels in the trichloroethylene market. Prominent companies operating in the global trichloroethylene market include AGC Inc., Befar Group, Olin Corporation, and Westlake Chemical Corporation.
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