Global Dichloroethane Market to Grow at a CAGR of 4.75% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Global Dichloroethane Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global dichloroethane market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 4.75% during the forecast period. Growing demand for polyvinyl chloride (PVC) from construction and automotive coupled with the increasing demand of other application areas is expected to drive the demand of dichloroethane for the forecast period. Moreover, stringent environmental regulations regarding dichloroethane are expected to hinder the demand growth during the forecast period.

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Dichloroethane also known as ethylene dichloride (EDC) is a colourless liquid with a chloroform like odor. It is highly flammable, toxic and carcinogenic. The major applications of dichloroethane are vinyl chloride monomer, tetraethylenepentamine, and others. Vinyl chloride monomer being the major application of dichloroethane is the precursor to poly vinyl chloride. Major end use industries for dichloroethane are construction, automotive, electricals and electronics.

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Dichloroethane is basically chlorinated ethane. Its major application is vinyl chloride monomer which is the precursor to polyvinyl chloride (PVC). In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand of dichloroethane for the first half of 2020. Therefore, the demand for dichloroethane fell during the coronavirus pandemic.

Dichloroethane end use is majorly related to automotive and construction hence the price is indirectly linked to the fluctuations in the demand of automotive and construction. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of automotive and construction rendered a major fall in the global dichloroethane, hence the prices remained low for dichloroethane during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global dichloroethane market and holds the largest market share in FY20. Asia’s dichloroethane market is anticipated to grow in the economies like China due to increasing demand of automotive and construction.

According to ChemAnalyst report, Global Dichloroethane Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global dichloroethane market are Dow Chemical Co., Occidental Chemical Corp, SolVin, Formosa Plastics Corporation, Ineos, Evonik Industries AG, Vynova Group.

“Being linked to the automotive and construction industry, the global dichloroethane industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities for dichloroethane. With new competitors emerging across the Asia Pacific dichloroethane market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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