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Trichloroethylene Market is Attribute to Reach US$ 293 Million Revenues by 2030
Trichloroethylene Market
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Trichloroethylene, being a key ingredient in HFC refrigerant production, is poised to expand in line with HFC market growth. Increasing consumption of trichloroethylene as an intermediate in the hydrofluorocarbon refrigerant industry is set to amplify market growth during the forecast period. Further, owing to trichloroethylene’s exceptional cleaning efficiency, it is poised to remain in demand for metal cleaning and vapor degreasing applications.
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The global trichloroethylene market is expected to expand at a CAGR of around 2% over the next ten years, and be valued at US$ 293 Mn by the end of 2030.
Key Takeaways from Trichloroethylene Market Study
On the basis of function, trichloroethylene is primarily used as an intermediate in hydrofluorocarbon refrigerant production, which is set to expand at a CAGR of 1.6% during the forecast period,
On the basis of grade, degreasing and general purpose grade accounted for over 15% of the global consumption in 2019.
Hydrofluorocarbon refrigerant production remained the primary use of trichloroethylene in 2019, and is poised to account for over three-fourth of global consumption by 2030.
East Asia, being the largest hydrofluorocarbon producer, has led the consumption of trichloroethylene, and currently accounts for over half of global sales.
Stringent regulations passed by the European Union and EPA to reduce the consumption of trichloroethylene are set to create impediments for the growth of the trichloroethylene market.
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The COVID-19 outbreak has resulted in lockdowns and cross-border trade restrictions, which has declined the growth rate of the global trichloroethylene market.
“Due to trichloroethylene’s carcinogenic nature, consumers are moving towards more sustainable alternative products with zero ozone depleting potential, which will restrain market growth over the forecast period,” says a Fact.MR analyst.
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Regulatory Policies Leading Trichloroethylene Market towards Consolidation
The European ban on trichloroethylene and EPA’s restrictions on its usage have forced players to divest this business segment or halt production. The global trichloroethylene market space is consolidated with a few players, in which, the top four account for over half of global production.
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Companies such as AGC Inc, Befar Group, Olin Corporation, and Westlake Chemical Corporation are the current leading manufacturers. Olin Corporation is a leading player in the United States market, and accounts for over one-third of regional consumption and nearly one-fourth of global sales. In Asia Pacific, AGC Inc and Befar Group are the leading manufacturers accounting for over one-fourth of regional sales.
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More Valuable Insights on Trichloroethylene Market
Fact.MR, in its new offering, presents an unbiased analysis of the global trichloroethylene market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the trichloroethylene market on the basis of function (intermediate, solvent, and others), grade (hydrofluorocarbon grade, degreasing & general purpose, and industrial grade) and application (hydrofluorocarbon, metal cleaning & degreasing, chemical processing, coatings & adhesives, and others), across five major regions.
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Trichloroethylene Market Poised for 3.2% CAGR Through 2030
𝐓𝐫𝐢𝐜𝐡𝐥𝐨𝐫𝐨𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐬 𝐒𝐭𝐞𝐚𝐝𝐲 𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟎
The global trichloroethylene market, valued at USD 452.01 million in 2023, is projected to reach approximately USD 563.52 million by 2030, exhibiting a compound annual growth rate (CAGR) of 3.2% during the forecast period.
𝐈𝐧𝐭𝐫𝐢𝐠𝐮𝐞𝐝 𝐭𝐨 𝐞𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬? 𝐒𝐞𝐜𝐮𝐫𝐞 𝐲𝐨𝐮𝐫 𝐡𝐚𝐧𝐝𝐬-𝐨𝐧 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.maximizemarketresearch.com/request-sample/121693/
𝐓𝐫𝐢𝐜𝐡𝐥𝐨𝐫𝐨𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦
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Understanding Trichloroethylene Prices: A Comparative Analysis of Recent Trends
𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗧𝗿𝗶𝗰𝗵𝗹𝗼𝗿𝗼𝗲𝘁𝗵𝘆𝗹𝗲𝗻𝗲 𝗣𝗿𝗶𝗰𝗲𝘀 𝗠𝗼𝘃𝗲𝗺𝗲𝗻𝘁 𝗟𝗮𝘀𝘁 𝗤𝘂𝗮𝗿𝘁𝗲𝗿:
𝗧𝗿𝗶𝗰𝗵𝗹𝗼𝗿𝗼𝗲𝘁𝗵𝘆𝗹𝗲𝗻𝗲 𝗣𝗿𝗶𝗰𝗲𝘀 𝗶𝗻 𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀:
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𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐫𝐢𝐜𝐡𝐥𝐨𝐫𝐨𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The "global 𝐓𝐫𝐢𝐜𝐡𝐥𝐨𝐫𝐨𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 is poised for steady growth, with its size valued at USD 452.01 million in 2023 and projected to reach USD 563.52 million by 2030, growing at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2030" Trichloroethylene, a colorless, non-flammable liquid with a chloroform-like odor, plays a crucial role in various industrial applications, including degreasing, solvent extraction, and chemical processing.
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Trichloroethylene is a colorless, non-flammable liquid with a slightly sweet odor and a burning taste. It is used primarily as a solvent to remove grease from metal parts. It is also an ingredient in paint removers, adhesives, typewriter correction fluids, and spot removers. Advantages of trichloroethylene such as the ability to incorporate effective stabilizing systems during vapor degreasing operations and non-flammability are anticipated to aid the expansion of the market…
Trichloroethylene market anticipated to grow and hydrochlorofluorocarbon-based r …
In order to phase out the consumption of CFC (chlorofluorocarbon) and HCFC (hydrochlorofluorocarbon), HFC (hydrofluorocarbon) has emerged as a third generation refrigerant.
Trichloroethylene, being a key ingredient in HFC refrigerant production, is poised to expand in line with HFC market growth.
Increasing consumption of trichloroethylene as an intermediate in the hydrofluorocarbon refrigerant industry is set to amplify market growth during the forecast period.
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Trichloroethylene Market to Reach US$ 293 Mn by 2030-end
In order to phase out the consumption of CFC (chlorofluorocarbon) and HCFC (hydrochlorofluorocarbon), HFC (hydrofluorocarbon) has emerged as a third generation refrigerant. Trichloroethylene, being a key ingredient in HFC refrigerant production, is poised to expand in line with HFC market growth.
Increasing consumption of trichloroethylene as an intermediate in the hydrofluorocarbon refrigerant industry is set to amplify market growth during the forecast period. Further, owing to trichloroethylene’s exceptional cleaning efficiency,…
