Axiom Market Research & Consulting™ added a report on global trichloroethylene and perchloroethylene market which includes study on grade, application across various countries of key regions across the globe. The global trichloroethylene and perchloroethylene market was projected to grow at a CAGR of 2.03% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) and volume (Tons) generated by the trichloroethylene and perchloroethylene market.
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The factors such as increased use of trichloroethylene and perchloroethylene in several industrial applications such as for metal degreasing, dry cleaning and many others, and as a solvent in various spot removal applications, surge in the demand for trichloroethylene and perchloroethylene from automotive and metal part manufacturing industry, and rising demand from Asian countries such as China and India are likely to contribute to the healthy growth of the market.
The report analyses the global trichloroethylene and perchloroethylene industry based on grade, application and geography. Grade segment of the industry are segmented trichloroethylene (TCE) and perchloroethylene (PCE). The major applications of trichloroethylene and perchloroethylene is as degreasers, hydrofluorocarbon refrigerants, spot-removal solvents and others. The global trichloroethylene and perchloroethylene market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The perchloroethylene (PCE) grade segment is expected to dominate the trichloroethylene and perchloroethylene market during the forecast period. The rapid adoption of the perchloroethylene (PCE) grade in various industrial applications is the key driving factor that is accredited to the growth of the market. In addition, factors such as rising significance of perchloroethylene in dry cleaning industry, and increasing use for applications such as vapour-degreasing, and other technical and industrial applications are boosting the market growth.
In 2020, hydrofluorocarbon refrigerants application accounted for the major market share
The hydrofluorocarbon refrigerants segment hold significant share in the trichloroethylene and perchloroethylene market owing to widespread application and use across industries. In addition, growing use of trichloroethylene or perchloroethylene as an intermediate in the hydrofluorocarbon refrigerant industry is expected to expand market growth during the estimated period.
Asia Pacific dominated trichloroethylene and perchloroethylene market in 2020 and is expected to witness the fastest growth in upcoming years
Asia Pacific is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of volume. The growing demand for trichloroethylene and perchloroethylene in region is attributed by various industries like chemical, metal manufacturing and automotive part manufacturing industry. China followed by India and Japan is projected to be the fastest growing market owing to increasing consumers of products in the region.
Key Players:
The key player in global trichloroethylene and perchloroethylene market are Westlake Chemical Corporation, The Olin Corporation, SAFECHEM Europe GmbH, AGC Chemicals, Occidental Petroleum Corporation, Toagosei Co., Ltd, Spolchemie, Acuro Organics Limited, Shandong Xinlong Group, Kanto Denka Kogyo Co, Yibin Tianyuan Group, Unistar Chemical Inc, Mitani Sangyo Co Ltd, Inovyn and Fine Chemicals & Scientific Co among others.
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