Chloromethane Market Growing at CAGR of 4.63% and will Generate USD 2171.6 million Revenue by 2022

“Global Chloromethane Market”
Global Chloromethane Market Information-by Types (Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, Chloroform), by Application (Pharmaceuticals, Silicone polymers, Agrochemicals, Chemical intermediate, Personal-care, Medical, Others) and by Region – Forecast till 2022

Market Highlights

Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Chloromethane Market size is expected to grow at highest rate of approximately ~2171.6 million by 2022. The market witnessed a potential growth over the forecasted period on account of growing applications such as pharmaceuticals, medical and agrochemicals in chloromethane market. Global Chloromethane market is expected to grow at ~4.63% CAGR during 2016-2022

Chloromethane is organic chemical compound with mildly sweet odor. It is extremely flammable colorless gas. Synthetically, chloromethane is produced by mixture of sodium chloride, sulfuric acid and methanol.  Commercially, chloromethane is produced through action of direct sunlight on biomass and chloride present in sea foam. Chloromethane was initially used as refrigerant. Later, it was banned in consumer goods owing to high toxicity level.

The global chloromethane market is segmented into types and application. Based on types, chloromethane market is segmented into methylene chloride, methyl chloride, carbon tetrachloride, chloroform. Methyl chloride largest dominating segment which is extensively used in medical and pharmaceutical industries. It also acts as immediate feedstocks for methylene chloride, carbon tetrachloride and chloroform production. Growing usage of methylene chloride as blowing agent, paint removal and metal cleaning in pharmaceutical, construction and automobile industries has boosted the chloromethane market growth over the forecasted period. Carbon tetrachloride segment is expected to grow at rapid pace owing to its potential use in agrochemicals, pharmaceuticals and solvents manufacturing. Chloroform register positive growth owing to its usage in medical and pharmaceutical industry. Rapid industrialization, growing household income and changing lifestyle of consumers especially in developing regions has contributed to chloromethane market growth.

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Key Players

Key players of the global high Chloromethane market are The Dow Chemical Company (U.S), Asahi Glass Co. Ltd. (Japan), Gujarat Alkalies and Chemicals Ltd (India), Alfa Aesar (U.S), Akzonobel N.V.(Europe), Solvay SA (Europe), INEOS Group (Europe), Tokuyana Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Occidental Chemical Corporation (U.S.) and others.

Regional Insights

The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Chloromethane market accounted for over 55.0% of global revenue share in 2016. Rapid industrialization and urbanization is expected to drive the market demand in China and India. Changing lifestyle of consumer is anticipated to drive demand silicone polymer in construction and infrastructure activities. China expected significant growth in Asia Pacific market owing to high quality product supply of silicone. Thus, it is witnessed to drive the market demand of Chloromethane over end user industries in several regions.

Europe witnessed a slow growth in chloromethane market. Increasing R&D for the production of bio-based products in the region is expected to have a favorable impact on growth over the forecast period. Stringent regulations of government regarding chemical usage across application industries particularly in developed regions like North America is expected to witnessed steady growth.

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Regional Insights

The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Chloromethane market accounted for over 55.0% of global revenue share in 2016. Rapid industrialization and urbanization is expected to drive the market demand in China and India. Changing lifestyle of consumer is anticipated to drive demand silicone polymer in construction and infrastructure activities. China expected significant growth in Asia Pacific market owing to high quality product supply of silicone. Thus, it is witnessed to drive the market demand of Chloromethane over end user industries in several regions.

Key questions answered in this report

•           What will the market size be in 2022 and what will the growth rate be?

•           What are the key market trends?

•           What is driving this market?

•           What are the challenges to market growth?

•           Who are the key vendors in this market space?

•           What are the market opportunities and threats faced by the key vendors?

•           What are the strengths and weaknesses of the key vendors?

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