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Perchloroethylene: Introduction

  • Perchloroethylene (PERC), also known as ‘tetrachloroethene’, is a chlorocarbon. PERC is a colorless liquid that is chemically stable; it emits a sweet-smelling fragrance and is non-flammable in nature. Perchloroethylene’s manufacturing process includes chloronylosis of relatively lighter hydrocarbons. It is used as a solvent in various chemicals. PERC is a chemical intermediate primarily used in refrigerants such as hyrdrofluorocarbon and hydrochlorofluorocarbons.
  • It is also used in dry cleaning in both industrial and commercial markets. PERC along with other chlorocarbons are utilized as vapor degreaser in automotive, aerospace, and metalworking industries. It has higher boiling point and long cleaning phase, which helps remove difficult waxes and soils from surfaces. It is also employed as an extractant for oils and fats.
  • Earlier, perchloroethylene was manufactured by reacting chlorine with acetylene. However, presently, acetylene is replaced by various feedstock such as lighter hydrocarbons and ethylene dichloride (EDC). Ethylene dichloride is a highly preferred feedstock due to its easy availability and higher yield. Ethylene dichloride is treated with oxygen and chlorine in the bed reactor, a process known as oxychlorination, which resulting in the formation of PERC. In terms of raw materials, in certain cases, lighter hydrocarbons such as ethane are widely preferred. Sometimes, perchloroethylene is also manufactured using wastes such as chlorinated hydrocarbons.

Key Drivers and Restraints of Global Perchloroethylene Market

  • Perchloroethylene has emerged as an ideal feedstock in fluorocarbon production owing to its efficacy to act as an intermediate. Perchloroethylene is widely used as an intermediate to produce refrigerants, refrigerant blends, and other fluorinated compounds. Consequently, perchloroethylene is extensively utilized in hydrofluorocarbon applications, which accounted for nearly three-fourths of the total global consumption in 2019. Thus, an increase in the demand from the refrigerants sector is projected to drive the demand for perchloroethylene in the next few years.
  • Apart from hydrofluorocarbon, perchloroethylene is largely utilized as a solvent in dry cleaning, metal cleaning, and vapor degreasing applications. Perchloroethylene has become the most commonly used dry cleaning chemical, as it is more stable than any other chlorinated solvent. Furthermore, it is highly preferred for heavy-duty applications that require high temperature to remove contaminants owing to its high boiling point. These factors are estimated to fuel the global perchloroethylene market during the forecast period

Perchloroethylene: Application Segment

  • In terms of application, the global perchloroethylene market can be segmented into dry cleaning agent, solvent, and others
  • The dry cleaning agent segment is expected to account for a significant share of the global perchloroethylene market during the forecast period
  • The solvent segment is likely to expand at a rapid pace during the forecast period owing to the increasing demand from the chemical sector since perchloroethylene is employed as solvent in numerous chemicals

Covid-19 Impact on Perchloroethylene Market

  • The coronavirus outbreak has affected the whole world, resulting in lockdowns that have hampered demand across the globe. The outbreak has forced countries to stop any kind of import export across borders. As per the World Bank, the global economy is poised to contract by 5% in 2020, leaving a permanent scar on the global economy. Analyzing the current scenario, the global economy may take years to recover from the current recession.
  • Economies of developed countries such as Germany, France, the U.K., and the U.S. are poised to contract by 8% to 10% in 2020. These countries are key consumers of perchloroethylene, and are estimated to experience a decline in demand till the midterm forecast. East Asia is the least affected region and a prominent consumer, which in turn is estimated to drive the global market growth in the midterm during the forecast period.

Asia Pacific to Dominate Perchloroethylene Market

  • In terms of region, the global perchloroethylene market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold a significant share of the global market during the forecast period. China is a leading manufacturer of refrigerant; hence, demand for perchloroethylene has been considerably high since the last few years, accounting for nearly half of the total demand globally. East Asia has driven consumption and holds a noteworthy share of the perchloroethylene market driven by China. This scenario is projected to continue during the forecast period too.

Key Manufacturers Operating in Global Perchloroethylene Market

The global perchloroethylene market was highly fragmented in 2019. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global perchloroethylene market include:

  • Occidental Chemical
  • Olin Corporation
  • Westlake Chemical Corporation
  • The DOW Chemical Company
  • Banner Chemicals Group
  • ACE Geosynthetics Enterprise Co, Ltd
  • Aicello Chemical Co, Ltd

Global Perchloroethylene Market: Research Scope

Global Perchloroethylene Market, by Type

  • Ethylene Oxychlorination
  • Acetylene Method
  • Ethylene Direct Chlorination

Global Perchloroethylene Market, by End-use

  • Dry Cleaning Agent
  • Solvent
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Perchloroethylene Market

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