Trichloroethylene is a colorless, nonflammable liquid with a slightly sweet burning taste and a sweet odor. Perchloroethylene is also nonflammable, colorless liquid solvent with a sweet, ether-like odor. They are widely used as a solvent to remove grease from metal parts, but it is also an ingredient in paint removers, adhesives, spot removers, and typewriter correction fluids.
The global trichloroethylene and perchloroethylene market has been seeing ample growth from the past few decades. The growth of the market is primarily attributed to the large scale adoption of these chemicals in various industrial applications such as in automotive, textile, oil and gas, paint and coating and many others. Likewise, factors such as growing market for metal manufacturing industry across the globe, rapid economic growth of the developing countries, and increasing industrialization are expected to improve market growth.
Nevertheless, stringent government rules and regulations, rising concerns regarding harmful effects of the trichloroethylene and perchloroethylene on human health and development of other alternatives are some of the major restraining factors that could hamper the market growth.
The study analyses global trichloroethylene and perchloroethylene market based on grade, application and geography.
Based on grade, the market is segmented into two major segments trichloroethylene (TCE) and perchloroethylene (PCE). The trichloroethylene (TCE) segment is further bifurcated into degreasing & general purpose grade, fluorocarbon grade, high-purity grade and others. And perchloroethylene (PCE) is sub-segmented into degreasing & general purpose grade, dry cleaning grade, fluorocarbon grade and others. Trichloroethylene (TCE) segment dominated the market in 2020 and is projected to maintain its dominance during the forecast period. In which, degreasing & general purpose grade segment likely to dominate the market. An increasing use of trichloroethylene (TCE) as a degreasing agent in various industries as it is highly effective agent is accredited to the segment growth.
Based on application, degreasers segment is expected to witness high growth during the forecast period. A degreaser is a cleaning agent which is widely used to dissolve oil and grease from hard surfaces. Many degreasers comprise solvents or chemicals. Likewise, it can be used to remove finger prints, corrosion inhibitors, cutting fluids, handling soils, and other contamination common in refineries, metal fabrication, motor repair, and many other applications.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific is likely to dominate the global trichloroethylene and perchloroethylene market over the estimated time frame. The major growth factors such as rapidly growing market for industries such as paint and coating, textile and chemical industry and rising industrialization and urbanization across the region are attributed to the growth of the market. In addition, factors such as increasing manufacturing output of the countries such as India and China, surge in the demand for metal components and industrial solvents, and growing financial support by domestic and global companies from the fields such as pharmaceuticals, automobiles and automobile manufacturing, construction and chemicals are likely to improve growth of the market in the coming years.
The major key players of market includes Westlake Chemical Corporation, The Olin Corporation, Dow (SAFECHEM Europe GmbH), AGC Chemicals, Occidental Petroleum Corporation, Toagosei Co., Ltd, Spolchemie, Acuro Organics Limited, Befar Group Co., Ltd, Shandong Xinlong Group and Kanto Denka Kogyo Co among others.
The study analyses global Trichloroethylene and Perchloroethylene market based on grade, application, and geography. Trichloroethylene and Perchloroethylene market by grade is segmented into trichloroethylene (TCE) and perchloroethylene (PCE). The trichloroethylene segment is likely to dominate the market over the forecast period. The market finds application in degreasers, hydrofluorocarbon refrigerants, spot-removal solvents, and others. The degreasers segment is likely to register fastest growth in years to come owing to the growing adoption of TCE as a degreasers by industries across the globe. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
Why to buy this report: