Growth of the global trichloroethylene market is attributed to increasing demand from developing countries such as China and India. Trichloroethylene is a chlorinated solvent primarily utilized in metal cleaning and vapor degreasing applications. Impressive solvency and high stability have made trichloroethylene an ideal choice in such applications.
Other bundled advantages such as non-flammability and ability to incorporate effective stabilizing systems during vapor degreasing operations are set to aid the expansion of the trichloroethylene market size over the forecast period of 2020 to 2030. Despite its exceptional solvency and cleaning efficiency, trichloroethylene is identified as carcinogenic in nature, which has restricted its demand to some extent in recent years.
The coronavirus outbreak has brought the world to its knees, and forced people into lockdowns, which has affected the production and demand for trichloroethylene across the globe. Fear of coronavirus has forced countries to stop any kind of import-export across borders. Sudden industrial shutdowns and restricted transportation has crippled the global economy over the last few months. As per WHO and UN stats, loss caused due to the COVID-19 outbreak may take years to recover.
East Asia is the least affected region by the coronavirus outbreak and is poised to assist global market growth by the end of 2020. But, East Asia exports a huge amount of trichloroethylene to North America and other Asian countries, and halted import-export across borders due to the pandemic crisis may restrict market growth till the situation recovers.
Further, Europe and North America are the two prominent consumers of trichloroethylene, together accounting for significant demand in 2019. Along with leading trichloroethylene consumers, these are the most affected regions by the coronavirus outbreak, and account for nearly half of the global fatalities. The bad situation in these regions has impacted the growth of the global trichloroethylene market, which is poised to recover by the end of the year.
Key Segmentation :
- Fluorocarbon Grade
- Degreasing & General Purpose
- Industrial Grade
- Metal Cleaning & Degreasing
- Chemical Processing
- Coatings and Adhesives
- North America
- East Asia
- South Asia & Oceania
- Rest of the World
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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