Chlorinated Solvents Market Size Worth $1,437.3 Million By 2032 | CAGR: 5.1%t

Chlorinated Solvents Market

Global Chlorinated Solvents Market Overview

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.

Global demand for solvents has been positively influenced by the steady increasing momentum in a number of end-use areas, including paints and coatings, medicines, personal care and cosmetics, adhesives, home care, printing inks, and packaging. The use of “Green Solvents” and “Bio-based Solvents,” which combine environmentally beneficial qualities with low- to zero-toxicity, biodegradable, recyclable, and non-corrosive properties, is growing as a result of the regulatory environment’s strict requirements.

The exceptional biodegradable qualities of these solvents, the growing cost of crude oil, and initiatives to lessen reliance on petrochemical solvents are further reasons driving increase in the use of bio and green solvents.

ChemView Consulting has analyzed  that 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.

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.

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Segments Covered in Report

By Type:

  • By Technology: Perchloroethylene (PCE)
  • Trichloroethylene (TCE)
  • 1,1,1-Trichloroethane (TCA)

By Application:

  • Refrigeration & Air Conditioning
  • Dry Cleaning
  • Metal Degreasing
  • Textile Treatment
  • Automotive Aerosols
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Chlorinated Solvents Market

  • Based on type, due to 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.
  • Based on application, 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.
  • Based on region, North America owned up to 24.6% of the chlorinated solvents market in 2021 because of the region’s expanding automotive industry.

Competition Summary

Many businesses emphasize organic growth initiatives, including new product launches, approvals, and patents and events. Acquisitions, partnerships & collaborations were examples of inorganic growth tactics observed in the market.

Some of the Key Global Chlorinated Solvents Market players profiled in the report are Acuro Organics Limited, Banner Chemicals Limited (2M Group), Befar Group CO., LTD., Dongying City Longxing Chemical Co., Ltd., Hwatsi, Chemical Private Limited.

Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.