The halogenated solvent cleaners market is currently valued at US$ 909.5 million, and by the end of 2032, it is expected to have grown to US$ 1.26 billion. From 2022 to 2032, halogenated solvent cleaner sales are expected to grow globally at a CAGR of 3.3%.
In 2022, the top three nations producing halogenated solvent cleansers would collectively hold a market share of 36.9%. Construction activity has increased as a result of rising infrastructure development demands, which is anticipated to increase demand for halogenated solvent cleansers since the construction sector makes substantial use of them.
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Market Titans
- Royal Dutch Shell Plc
- Eastman Chemical Co.
- ExxonMobil Corporation
- LyondellBasell Industries Holdings B.V.
- Ashland Inc.
- INEOS AG
- Huntsman
- Celanese Corporation
- BASF SE
- Honeywell International Inc.
Key Statistics Supporting the Surge
- The market for halogenated solvent cleaners in North America currently accounts for a market share of 34.3%.
- The market for halogenated solvent cleaner stands at a valuation of US$ 312 million.
- India, China, Korea, Indonesia, and Thailand are expected to be the most prominent economies in this region throughout the forecast period.
- The China halogenated solvent cleaners market accounts for a revenue total of US$ 47.3 million at present and holds a market share of 5.2%.
- The market for halogenated solvent cleaners in Europe accounts for a revenue of US$ 233.7 million and accounts for a notable market share of 25.7%.
Market Trends
- Declining Usage: The halogenated solvent cleaners market is witnessing a decline in usage due to increasing environmental concerns and regulatory restrictions. The use of halogenated solvents, such as perchloroethylene (PERC), trichloroethylene (TCE), and methylene chloride, is being phased out or restricted due to their adverse environmental and health impacts.
- Shift towards Alternatives: The market is experiencing a shift towards alternative cleaning technologies and solvents that are more environmentally friendly and safer for human health. Water-based, bio-based, and non-halogenated solvent cleaners are gaining popularity as substitutes for halogenated solvents.
- Regulatory Compliance: Stricter regulations and guidelines imposed by government authorities and environmental agencies are driving the transition away from halogenated solvent cleaners. These regulations aim to reduce emissions of hazardous air pollutants and protect worker health and safety.
- Health and Environmental Concerns: Halogenated solvents are known to be hazardous to human health and the environment. They can cause respiratory issues, skin irritation, and have been linked to serious health conditions, including cancer. The environmental impacts of halogenated solvents include ozone depletion and groundwater contamination.
- Industry Transition: Industries that have traditionally relied on halogenated solvent cleaners, such as aerospace, automotive, metalworking, and electronics manufacturing, are undergoing a transition towards cleaner and safer cleaning methods. Companies are investing in research and development to find effective alternatives that meet regulatory requirements and industry standards.
Competitive Landscape :
Halogenated solvent cleaner manufacturers are expected to focus on the development of eco-friendly solvents and are also focusing on the adoption of cleaner manufacturing processes to create new halogenated solvent cleaners.
Industry Research
- By Product :
- Methylene Chloride
- Perchloroethylene
- Trichloroethylene
- By End-use Industry :
- Paint & Coatings
- Printing Inks
- Cosmetics & Toiletries
- Others
Regional Analysis For Halogenated Solvent Cleaners Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
Key Questions Covered in the Halogenated Solvent Cleaners Market Report
- What is the projected value of the Halogenated Solvent Cleaners factors Industry in 2022?
- At what rate will the global Halogenated Solvent Cleaners factors market size grow until 2032?
- Which are the factors hampering the growth of Halogenated Solvent Cleaners factors?
- Which region is expected to lead in the global Halogenated Solvent Cleaners factors market By 2032?
- Which are the factors driving the Halogenated Solvent Cleaners factors Industry during the forecast period?
- What is the expected market value of the Halogenated Solvent Cleaners factors market during the forecast period?
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