The market is expected to generate an incremental $ opportunity of US$ 563.3 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00202 Format: PDF Pages: 290
Global Chlorinated Solvents Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Chlorinated Solvents Market grew at a CAGR of 4.4% between 2017-2021 and is estimated to be US$ 874.0 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 1,437.3 Mn by 2032 end.
Chlorine-containing substances like perchloroethylene (PCE), trichloroethylene (TCE), etc., are known as chlorinated solvents. Fluorinated hydrocarbons and fluorinated polymers are created using these chlorinated solvents. Perchloroethylene (PCE), a chlorinated solvent, is utilized in applications like dry cleaning of textiles, cleaning the surface of metals, and as a reactant for catalyst regeneration.
Other uses for chlorinated solvents include degreasers, paint thinners, insecticides, and chemical manufacturing intermediates. Chlorinated solvent exposure can have negative consequences on a person’s health.
EXPANDING INTEREST IN NUMEROUS APPLICATIONS DRIVES MARKET GROWTH
The major factor driving the global Chlorinated Solvents market is the rapidly increasing demand for 1,1,1-trichloroethane for use in metal degreasing and vinylidene chloride manufacturing across the globe. In addition, the need for perchloroethylene is also growing due to its non-flammability and low toxicity nature. It is preferably used in dry cleaning for commercial and industrial purposes, influencing the market growth.
In addition, rapidly increasing demand for perchloroethylene as a solvent for rubbers, greases, waxes, gums ancylostoma, trematodes, and nematodes anthelminthic against necator and veterinary drugs will stimulate the global Chlorinated Solvents market growth during the forecast period.
STRICT GOVERNMENT GUIDELINES HAMPER THE MARKET GROWTH
Due to legislation and compliance with the Kyoto Protocol on climate change, global warming, and Montreal Protocol on ozone-depleting chemicals, the use of chlorinated solvents has been negatively impacted. Due to its potential to deplete the ozone layer, the use of methyl chloroform has gradually been phased out in some nations.
Workers in small commercial businesses that use TCE as a degreaser, people working in dry cleaners that use TCE to remove stains, and customers using spray-on degreasers and protective coating sprays for arts and crafts are particularly in danger.
Market Segments Covered in Report
By Region and Country:
Which type segment holds the largest share in the Global Chlorinated Solvents Market?
Due to its low toxicity and non-flammability, perchloroethylene held the highest share in the Chlorinated Solvents Market. It serves as a chemical building block in synthesizing several fluorinated chemicals. Its vapors can gather in low-lying or poorly ventilated spaces because they are heavier than air.
Perchloroethylene is used in various processes, including dry cleaning and textile processing, industrial catalyst regeneration, metal and stone polishing, coatings, degreasers, solvent cleaners, carpet and spot cleaners, sealants and adhesives, paints, inks, and ink removal products. Additionally, perchloroethylene is employed as a thinning agent to facilitate the simple application and quick drying of adhesives.
Why is it expected that refrigerant and air conditioning applications will dominate the market?
Due to the widespread use of fluorocarbons in air conditioning applications, the refrigerant and air conditioning sector held the greatest share of the chlorinated solvents market and is expanding at a CAGR of 3.9%. Increased installation of HVAC systems in autos and the growing importance of clean air systems in the manufacturing sector are projected to boost industry growth.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Many businesses emphasize organic growth initiatives, including new launches, product approvals, and others like patents and events. Acquisitions, partnerships & collaborations were examples of inorganic growth tactics observed in the market.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for chlorinated solvents in the worldwide industry, market players in the chlorinated solvents market can anticipate attractive growth prospects in the future.
A list of some of the key suppliers present in the market are:
Global Chlorinated Solvents Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|