Global CTO Distillation Consumption Value Reached 1746 Million USD In 2017
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The world consumption of CTO distillation increased from 1361 K MT to 1565 K MT by 2017. The CAGR is about 2.83%. North America is the largest consumption area of CTO distillation by volume in 2017 with 40% of global total consumption volume share. Europe and Asia-Pacific are the following with 34.8% and 15.76% by share.
The global consumption value of CTO distillation reached 1746 million USD in 2017 and it was 1442 million USD in 2013. The CAGR during 2013 to 2017 is about 3.9%.
China and Japan are the leading countries of Asia-Pacific in the CTO distillation consumption.Korea and Southeast Asia countries are the following. They took 83.5% of Asia-Pacific total revenue in share in 2017. The market of CTO distillation in Asia-Pacific had increased from 236 million USD in 2013 to 323 million USD by 2017. The CAGR is 6.48%.
The Europe CTO distillation market is about 574 million USD in 2017. And it is 445 million USD in 2013. The CAGR of Europe CTO distillation market value is about 5.23%. Among the European countries, Germany France, Russia and UK. They took 63.8% in share. The rest of the Europe took 34.51% of Europe total revenue in 2017. Finland, Norway and Sweden are the important consumption regions in the rest of Europe.
North America is an important consumption area of CTO distillation in the world. The revenue of CTO distillation increased from 607 million USD to 668 million USD from 2013 to 2017. The average growth rate is about 1.94%. And USA took more than 77% of North America total consumption value in 2017. Canada and Mexico only took about 14.39% and 7.77%.
We predict the global market volume of CTO distillation would reach 1925K MT by 2024 and the global market value would be 2834million USD.