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Worldwide Sales of Fluorocarbon Grade Trichloroethylene Is Expected to Expand at a CAGR of Around 2% over the Next Ten Years
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Posted on August 11, 2021
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Published by top news
Posted on August 11, 2021
The global demand for trichloroethylene 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.
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.
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“Due to trichloroethylene’s carcinogenic nature, consumers are moving towards more sustainable alternative products with zero ozone depleting potential, which will restrain market growth over the forecast period,” says a Fact.MR analyst.
Get Customization on Trichloroethylene Market Research Report for specific research solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=3701
Full Access of this Report Is Available at https://www.factmr.com/checkout/3701
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.
Fact.MR, in its new offering, presents an unbiased analysis of the global trichloroethylene market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the trichloroethylene market on the basis of function (intermediate, solvent, and others), grade (hydrofluorocarbon grade, degreasing & general purpose, and industrial grade) and application (hydrofluorocarbon, metal cleaning & degreasing, chemical processing, coatings & adhesives, and others), across five major regions.
For More Trending Reports https://www.accesswire.com/631921/Why-Textile-Printing-Industry-is-Next-Frontier-for-Sodium-Formate-Manufacturers
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The global demand for trichloroethylene 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.
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.
To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=3701
“Due to trichloroethylene’s carcinogenic nature, consumers are moving towards more sustainable alternative products with zero ozone depleting potential, which will restrain market growth over the forecast period,” says a Fact.MR analyst.
Get Customization on Trichloroethylene Market Research Report for specific research solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=3701
Full Access of this Report Is Available at https://www.factmr.com/checkout/3701
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.
Fact.MR, in its new offering, presents an unbiased analysis of the global trichloroethylene market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the trichloroethylene market on the basis of function (intermediate, solvent, and others), grade (hydrofluorocarbon grade, degreasing & general purpose, and industrial grade) and application (hydrofluorocarbon, metal cleaning & degreasing, chemical processing, coatings & adhesives, and others), across five major regions.
For More Trending Reports https://www.accesswire.com/631921/Why-Textile-Printing-Industry-is-Next-Frontier-for-Sodium-Formate-Manufacturers
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact: