Metal Degreasing Industry increases Demand for Trichloroethylene and Perchloroethylene
Trichloroethylene and Perchloroethylene are C2-chlorinated solvents which are used commercially. They are used in different application including degreasers, spot-removal solvents and hydrofluorocarbon refrigerants. Of all the applications, hydrofluorocarbon refrigerant segment was known to acquire ?30% of the global market in the year 2018. Perchloroethylene is used to manufacture hydrofluorocarbon (HFC) 134a which is a robust alternative for refrigerants made of chlorofluorocarbon. Trichloroethylene acts as an intermediate component which is used in production of different refrigerants including HCFC and HFC. It is used in applications of metal degreaser as significant solvent ingredient. An intelligence report titled, “Trichloroethylene and Perchloroethylene Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
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Decline in use of applications that encourage emissions have discouraged the use of Trichloroethylene and Perchloroethylene. Different regulations such as 1997 Kyoto Protocol on global warming and climate change have negatively influenced the application of Trichloroethylene and Perchloroethylene. Phase down of Trichloroethylene and Perchloroethylene is restricted in regions such as China and India by regulative authorities. These restrictions are on the backdrop of toxicity and negative environmental impact. Most of the regions across the globe are expected to witness decline in use of Trichloroethylene and Perchloroethylene during the forecast period.
Asia Pacific exhibits market growth
Global Trichloroethylene and Perchloroethylene market is forecasted to grow at ?1% CAGR during the forecast period 2019-2027. It is estimated to amount ?US$550Mn by the end of the year 2027. European Chlorinated Solvents Association (ECSA) reports that production and consumption of Trichloroethylene and Perchloroethylene is witnessing decline in Europe since many years.
Asia pacific yields positive results amidst the declining trends owing to the growth in demand of Trichloroethylene and Perchloroethylene in China. Metal degreasing industry of China raises the demand for Trichloroethylene and Perchloroethylene.
Major stake holders profiled in global Trichloroethylene and Perchloroethylene market include Westlake Chemical Corporation, Dow (SAFECHEM Europe GmbH), Occidental Petroleum Corporation and SPOLCHEMIE.
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Global Trichloroethylene and Perchloroethylene market: Report Synopsis
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Global Trichloroethylene and Perchloroethylene market: Research Methodology
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