Chloromethane Market Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2
Posted by Rishab Gupta on December 26th, 2019
Chloromethane is a highly flammable colorless gas which is produced naturally and is used to produce derivatives which have applications across several industry verticals. The global chloromethane market is set to witness average growth at a CAGR of 4.63% during the forecast period of 2016 to 2022. This and other projections have been made in Market Research Future's(MRFR) latest report on the subject. The chloromethane market is poised to reach an approximate evaluation of USD 2171.6 Mn by the end of 2022.
Chloromethane has extensive use in various industries through its derivatives which work as a significant driver as the original compound itself is cheaply and abundantly available. For instance, methyl chloride is used in the production of methylene chloride, carbon tetrachloride, and chloroform. Methylene chloride is used in metal cleaning, as a blowing agent in the form of foam and in the pharmaceutical industry. during the forecast period, a significant driver of note is the growing silicone industry application where chloromethane derivatives find application in medical and personal care industries. Used in silicone polymer production, chloromethane demand has increased significantly along with the rapid growth faced by the various end-use industries that use the compound; these include automotive,personal care and electronics.
Top Key Players:
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Latest Industry News:
Increasing demand Akzonobel to announce expansion plans of chloromethane production in Germany. The work on the expansion in the Frankfurt site is expected to continue over the next five years and raise the total capacity of the site by 50%.
Major application segment of chloromethane is silicone industry owing to its diverse applications such as automotive, personal care and electronic industry. Global chloromethane witnessed significant growth on account of increasing demand as a chemical intermediate in manufacturing of organic chemicals. However, growing silicone industry application in medical and personal care is prime factors to drive the chloromethane market growth over the forecasted horizon.
The global chloromethane market is segmented on the basis of types, application, and region. By types, the market is segmented into methylene chloride, methyl chloride, carbon tetrachloride, and chloroform. Methyl chloride is the largest segment due to its extensive use in the burgeoning pharmaceutical and medical industries.
By application, the market is segmented into pharmaceuticals, silicone polymers, agrochemicals, chemical intermediate, personal care, medical, and others. The silicone polymers application segment possesses the largest share of the market due to the extensive use of chloromethane in silicone polymers which are in turn facing high demand from the automotive, personal care and electronics industries.
By region, the global market is segmented into North America, Europe, Asia-Pacific and Rest of the World
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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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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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