Sales of 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, it is poised to remain in demand for metal cleaning and vapor degreasing applications.

The sales of 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.

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Key Trends of Trichloroethylene Market

• 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.
• The COVID-19 outbreak has resulted in lockdowns and cross-border trade restrictions, which has declined the growth rate of the global trichloroethylene market.

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Trichloroethylene Market: Segmentation

Fact.MR has segmented the trichloroethylene market on the basis of function, grade, application, and region.

Function

• Intermediate
• Solvent
• Others

Grade

• Fluorocarbon Grade
• Degreasing & General Purpose
• Industrial Grade
• Others

Application

• Hydrofluorocarbon
• Metal Cleaning & Degreasing
• Chemical Processing
• Coatings and Adhesives
• Others

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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. 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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