Chloroethylene Market Insights
Chloroethylene is also called vinyl chloride as it is a colorless gas compound that is prominently used in the production of polymer vinyl chloride. Chloroethylene has found its use in PVC production, which can be used in the manufacturing of PVC pipes, wire coatings, plastic kitchen wares, etc. The wide range of practical applications of the Chloroethylene is expected to increase the demand for different end-use industries over the forecast period.
Chloroethylene can be used as intermediate in the chemical industries and other end-use industries. Chloroethylene is derived from ethylene, acetate and ethane with the process of direct chlorination and thermal cracking. Chloroethylene has been used in polyvinyl chloride processing industry and increasing demand for polyvinyl chloride is directly proportional to the rising demand for chloroethylene.
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The increasing preference for building construction with PVC materials and infrastructure development has significantly driven the need for polyvinyl chloride leading to increasing demand for chloroethylene.
Global Chloroethylene Market: Market Dynamics
The increasing demand for polyvinyl chloride has eventually led to the growing demand for the chloroethylene in the near future. Chloroethylene acts as a precursor for the polyvinyl chloride, which plays an important role in the manufacturing of different products such as PVC pipes, wire coatings, thermoplastics, plastic kitchen wares and automotive plastic parts. More than 95% of chloroethylene act as a prominent intermediate in the production of polyvinyl chloride.
The structures of plastics in automotive get traction due to its low weight features with different properties, which will boost the sales of chloroethylene. Chloroethylene is a popular intermediate in the production of polyvinyl chloride, which increases the demand in the regions. Several manufacturers have established facilities across lucrative regions, such as the Asia Pacific and North America.
The global consumption of the synthetic fuel industry is expected to drive the market for Chloroethylene. Additionally, the consumption of the resins and plastics across the globe will have a positive impact on the global chloroethylene market. The rising expenditure on the fuel is likely to expand the oil processes industry, which is expected to push the demand for chloroethylene. The rising growth of construction and automotive industries across the world is creating the demand for chloroethylene.
Global Chloroethylene Market: Market Segmentation
The chloroethylene market is segmented into different parts based on the source, production method, and geography. On the basis of source, global market for chloroethylene is segmented as Ethylene, Acetate & Ethane. On the basis of production method, global market for chloroethylene is segmented as direct chlorination, oxychlorination and thermal cracking.
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Global Chloroethylene Market: Regional Outlook
The chloroethylene market has been categorized into seven critical regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa. The chloroethylene market is expected to register a healthy growth during the forecast period, as the polyvinyl chloride production is growing across the globe. East Asia and South Asia represents a significantly high market share, and the market will grow at a significantly high rate due to the rising production of polyvinyl chloride to create opportunities for the chloroethylene. China and India’s developing market is expected to impact the growth of the chloroethylene market positively.
Moreover, Europe is a growing market due to the high per-capita income and the consumers’ demand for plastic-based products. The chloroethylene market is steadily increasing with the rising demand for polyvinyl chloride across all the regions.
East Asia and South Asia’s rising market for construction and related material along with the booming automotive industry in the region creating a positive impact on the demand for chloroethylene.
Additionally, Middle East & Africa is projected to showcase steady growth in the global chloroethylene market due to the rise in the infrastructure developments in the region.
North America is one of the key maturing regions that will generate generous opportunity in the global chloroethylene market over the forecast period due to the rise in stringent regulations by governing bodies.
Global Chloroethylene Market: Key Players
Some of the major players in the chloroethylene market are Tahrir Petrochemicals, Ineos Styrolution, Synthos Kralupy, Total Petrochemicals, BASF, Ineos Styrenics, Sibur-Khimprom and Kian Petrochemical among others.
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