The factors such as increased use of trichloroethylene and perchloroethylene chemicals in several industrial applications such as for metal degreasing, dry cleaning and many others, surge in the demand for trichloroethylene and perchloroethylene from automotive 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.
New York, April 2021: Axiom Market Research & Consulting™ added a report on global trichloroethylene and perchloroethylene market which includes study on grade and 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.
The report analyses the global trichloroethylene and perchloroethylene industry based on grade, application, and geography. The grade segment of the industry is segmented into trichloroethylene (TCE) and perchloroethylene (PCE). The major applications of trichloroethylene and perchloroethylene are 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 key competitors of this market include Westlake Chemical Corporation, The Olin Corporation, Dow (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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Trichloroethylene and Perchloroethylene Market Regional Trends
Asia Pacific is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of volume as well as value. The growing demand for trichloroethylene and perchloroethylene in the region is attributed by various industries like automotive, metal manufacturing, and paint and coating. The economies such as China, Japan and India are projected to witness fast growth during forecast period due to existence of well-established chemical industry in the region.
Trichloroethylene and Perchloroethylene Market Segmental Highlights
- The perchloroethylene segment is expected to dominate the trichloroethylene and perchloroethylene market during the forecast period 2021 to 2027. The growth of this segment is rapidly improving owing to its increasing demand for dry cleaning application.
- In 2020, hydrofluorocarbon refrigerants application accounted for the major market share. The hydrofluorocarbon refrigerants hold significant share in the trichloroethylene and perchloroethylene market owing to rising consumption of these chemicals as an intermediate in the hydrofluorocarbon refrigerant industry.
- Asia Pacific dominated trichloroethylene and perchloroethylene market in 2020 and is expected to witness the fastest growth in upcoming years.
Research Objectives of Trichloroethylene and Perchloroethylene Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis.
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the trichloroethylene and perchloroethylene Market.
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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