(MENAFN- Ameliorate Digital Consultancy)
The global trichlorethylene market is expected to grow at a CAGR of about 2% over the next decade and will be worth US$293 million by the end of 2030.In order to phase out the consumption of CFCs (chlorofluorocarbons) and HCFCs (chlorofluorocarbons), HFC (chlorofluorocarbons) has established itself as the third-generation refrigerant. Trichlorethylene, a key ingredient in the manufacture of HFC refrigerants, will expand in line with the growth of the HFC market. Increasing consumption of trichlorethylene as an intermediate in the fluorocarbon refrigerant industry is expected to fuel the market growth over the forecast period. Additionally, due to trichlorethylene's exceptional cleaning efficiency, trichlorethylene continues to be in demand for metal cleaning and vapor degreasing applications.
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By grade, degreasing and general purpose grades accounted for over 15% of global consumption in 2019.
Production of fluorocarbon refrigerants remained the main use of trichlorethylene in 2019 and is expected to account for more than three quarters of global consumption by 2030.
East Asia, the largest producer of fluorocarbons, is the leader in trichlorethylene consumption and currently accounts for over half of global sales.
Strict European Union and EPA regulations to reduce trichlorethylene consumption will hamper the growth of the trichlorethylene market.
The COVID-19 outbreak has led to lockdowns and cross-border trade restrictions which have slowed down the growth rate of the global trichlorethylene market.
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Trichlorethylene Market: Segmentation
Function
Intermediate Solvent Others
Grade
Fluorocarbon Grade Degreasing & General Purpose Industrial Grade Others
Application
Hydrofluorocarbon Metal Cleaning & Degreasing Chemical Processing Coatings and Adhesives Others
Region
North America Europe East Asia South Asia & Oceania Rest of the World
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Key insights into the Trichlorethylene research:
. Underlying macro and microeconomic factors affecting Trichlorethylene growth Basic overview of the Trichlorethylene including market definition, classification and applications.
. Scrutiny of each Trichlorethylene player on the basis of mergers and acquisitions, R&D projects, and new product launches.
. Trichlorethylene acceptance trend in various industries.
. Major regions and countries offering lucrative opportunities to the Trichlorethylene players.
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