Global Dichloroethane Market to Grow at a CAGR of 4.75% by 2030 | ChemAnalyst
by Chem Analyst Chemical Database PriceAccording to
ChemAnalyst report, “Global Dichloroethane
Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply,
Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer
& Price Intelligence Market Analysis, 2015-2030”, global
dichloroethane market has shown promising growth in the past five years and is anticipated
to achieve a CAGR of 4.75% during the forecast period. Growing demand for
polyvinyl chloride (PVC) from construction and automotive coupled with the
increasing demand of other application areas is expected to drive the demand of
dichloroethane for the forecast period. Moreover, stringent environmental
regulations regarding dichloroethane are expected to hinder the demand growth
during the forecast period.
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info: https://www.chemanalyst.com/industry-report/dichloroethane-market-591
Dichloroethane
also known as ethylene dichloride (EDC) is a colourless liquid with a
chloroform like odor. It is highly flammable, toxic and carcinogenic. The major
applications of dichloroethane are vinyl chloride monomer,
tetraethylenepentamine, and others. Vinyl chloride monomer being the major
application of dichloroethane is the precursor to poly vinyl chloride. Major
end use industries for dichloroethane are construction, automotive, electricals
and electronics.
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Dichloroethane is
basically chlorinated ethane. Its major application is vinyl chloride monomer
which is the precursor to polyvinyl chloride (PVC). In 2020, the spread of
COVID-19 in major global economies caused nationwide lockdowns which had an
impact on a number of industries. Construction and automotive were among the
most affected industries during the pandemic. This had an impact on the demand
of dichloroethane for the first half of 2020. Therefore, the demand for
dichloroethane fell during the coronavirus pandemic.
Dichloroethane
end use is majorly related to automotive and construction hence the price is indirectly
linked to the fluctuations in the demand of automotive and construction. In the
first half of FY20 sudden outbreak of novel coronavirus followed by fall in in
the demand of automotive and construction rendered a major fall in the global dichloroethane,
hence the prices remained low for dichloroethane during the coronavirus
pandemic. Demand has picked up in the recent quarters and is projected to grow
due to increasing demand from Asia Pacific and North America.
Regionally, Asia
Pacific dominates the Global dichloroethane market and holds the largest market
share in FY20. Asia’s dichloroethane market is anticipated to grow in the
economies like China due to increasing demand of automotive and construction.
According to
ChemAnalyst report, Global Dichloroethane
Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply,
Technology, Application, End Use, Distribution Channel, Region, Competition,
Trade, Customer & Price Intelligence Market Analysis, 2015-2030”,
some of the major players operating global dichloroethane
market are Dow Chemical Co., Occidental Chemical Corp, SolVin, Formosa Plastics
Corporation, Ineos, Evonik Industries AG, Vynova Group.
“Being linked to
the automotive and construction industry, the global dichloroethane industry
has shown a robust growth alongside growing population and changing consumer
preference. China serves as the key growth region with sufficiently installed
capacities for dichloroethane. With new
competitors emerging across the Asia Pacific dichloroethane market, players
anticipate that there will be sufficient supply demand gaps in future. At this,
it is extremely important to keep an eye which region will grab the biggest
market share in the upcoming years.”
said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global
management consulting firm promoting ChemAnalyst.
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