Analysis of Chlorine Compressor market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Chlorine compressors are widely used in oil refineries, petroleum plants and chemical industry for compression and liquefaction of the chlorine. Over the past few years, chemical production industry has developed rapidly in parallel with the petroleum industry.
Manufacturer’s efforts to eliminate or reduce the use of halogenated refrigerants have boosted the use of chlorine for industrial cooling which has created huge opportunities for chlorine compressor manufacturers as chlorine is requires to be processed before application. Burgeoning petroleum production and refining industry especially in North America has created an upsurge in the demand for chlorine compressor market.
However, the coronavirus pandemic has presented critical challenges in front of chlorine compressor manufacturing companies such as disturbed supply chain, shortage of workforce, and insufficient inventories. In addition to this, dramatically lowered demand for fuel due to restricted vehicle mobility amid lockdown in most of countries has caused a major slump in the petroleum industry which further has hindered adoption of chlorine compressors globally.
North America is the leader in consumption while Asia Pacific is the leader in production of the chlorine compressor market. The petroleum industry has observed to be growing stronger in North America which has created significant opportunities in the chlorine compressor market over the years.
Asia Pacific is augmented to witness highest growth in the global chlorine compressor market during the forecast period (2020 – 2030), this is attributed to rapidly growing chemical production industry in the region. China has emerged as the global chemical production hub in the world in last few years which is poised to generate high opportunities for the manufacturers of chlorine compressor.
However, due to high impact of the COVID-19 pandemic on the economy of the globe, the chlorine compressor market regions is expected to witness sluggish growth in near future. However, in long run as world regains economic stability the market is poised to rebound and create significant opportunities.
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The unprecedented effects of the novel coronavirus on social as well as commercial aspects of the world are intensifying with the extension of lockdowns in most of the countries. Manufacturers are either suspending the production or running manufacturing plants on very low installed capacity due to insufficient and irregular raw material supply due to the lockdown.
China, which is the leading chemical manufacturing country, is facing reduced imports and exports as most shipping ports in the country are currently not operational. As a consequences, the adoption of chlorine compressor has been hampered globally, substantially impacting the business eco-system of the global chlorine compressor market.
Therefore, the global chlorine compressor market is expected to remain stagnant until the impact of coronavirus pandemic fades and governments lift the lockdown. The market is expected to witness stunted growth in the first half of the forecast period while it will gain traction in the second half.
The global chlorine compressor market is highly consolidated in nature with few leading players accumulating maximus share of the market. However, tier 2 players have also contributed significantly in the global chlorine compressor market. Leading companies in the market aiming expansion of business.
For instance, in July 2019, Kobe Steel, Ltd set up a new company in Germany – Kobelco Europe in order to strengthen its business in Europe and MEA. Some of the other prominent players in the global chlorine compressor market are Devi Hitech Engineers Pvt. Ltd.(India), Sundyne, Gardner Denver Nash, Elliott Group, RefTec International Systems, LLC, Mikuni Kikai Kogyo Co., Ltd., Mayekawa Mfg. Co., Ltd., and Charam Techno Chemical & Equipment (P) Ltd.
The research report presents a comprehensive assessment of the chlorine compressor market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to chlorine compressor market segments such as by chlorine compressor unit, power source, end use & region.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on chlorine compressor market segments and geographies.
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For a better understanding, global chlorine compressor market is being studied under product type, end use industries & Region.
Based on the product type, the chlorine compressor market can be segmented as:
Based on the end use industries, the chlorine compressor market can be segmented as:
Based on the end region, the chlorine compressor market can be segmented as:
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A CAGR of 3.6% can be approximated for the global chlorine compressor market.
North America is the leading market owing to the proliferating petroleum industry.
Manufacturers’ efforts to reduce the use of halogenated refrigerants as chlorine is required to be processed.
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