Trichloroethylene Market to Hold Two-Third Market Share through 2030, Projects Fact.MR

Posted on 2022-10-31 by Fact.MR in Chemicals // 0 Comments

Rockville, United States, 2022-Oct-31 — /EPR Network/ —

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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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.

Key Findings from Trichlorethylene Market Study
Functionally, trichlorethylene is mainly used as an intermediate in the manufacture of hydrofluorocarbon refrigerants, which are projected to grow at a CAGR of 1.6% over the forecast period.

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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
Fact.MR has segmented the trichlorethylene market based on function, quality, application and region.

function

Intermediate
solvents
Other
degrees

Fluorocarbon
Grade Degreasing & General Purpose
Industrial
Grade Other
Application

Fluorocarbon
Metal Cleaning & Degreasing
Chemical Processing
Coatings & Adhesives
Other
Region

North America
Europe
East Asia
South Asia & Oceania
Rest of the world

Key insights into the Trichlorethylene market research:
• Underlying macro and microeconomic factors affecting Trichlorethylene market growth Basic overview of the Trichlorethylene market including market definition, classification and applications.
• Scrutiny of each Trichlorethylene market player on the basis of mergers and acquisitions, R&D projects, and new product launches.
• Trichlorethylene market acceptance trend in various industries.
• Major regions and countries offering lucrative opportunities to the Trichlorethylene market players.

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