The Chloromethane Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chloromethane Global Market Report 2024, The chloromethane market size has grown strongly in recent years. It will grow from $3.77 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to chemical industry growth, industrial applications, plastics and polymers production, silicone production, pharmaceutical sector demand..
The chloromethane market size is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to expanding silicone demand, agricultural chemicals demand, evolving solvent applications, electronics and semiconductor sector expansion, global manufacturing expansion.. Major trends in the forecast period include innovations and r&d investment, regulatory shifts and compliance, adaptation in energy sectors, emerging market growth, utilization as a solvent and intermediate..
The growing drug and medical industry are expected to propel the chloromethane market going forward. The medical industry consists of businesses that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients. Chloromethane is used as a chemical intermediate in the production of drugs and medicines, so the growing medical industry helps in market growth. For instance, in March 2023, according to the American Medical Association, a US-based non-profit organization, health spending in the U.S. increased by 2.7% in 2021 to $4.3 trillion or $12,914 per capita.. Therefore, the growing drug and medical industry are driving the chloromethane market.
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The chloromethane market covered in this report is segmented –
1) By Type: Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, Chloroform
2) By Application: Refrigeration, Industrial Solvents, Chemical Intermediate, Silicones Polymers, Laboratory Chemicals, Temperature Control, Local Anesthetic, Other Applications
3) By End-Use: Pharmaceuticals, Agrochemicals, Automotive, Paints And Coatings, Personal Care And Cosmetics
Increasing sales of passenger vehicles are expected to propel the chloromethane market going forward. Passenger vehicles refer to automobiles that are meant for the transportation of passengers. The use of chloromethane in passenger vehicles helps to be less in weight as they become more fuel-efficient and thus reduce carbon emissions. For instance, In 2021, according to the International Organization of Motor Vehicle Manufacturers, a France-based international organization of vehicle manufacturers, assemblers, and importers, the global sale of passenger cars increased by 4.39% to 56.3 million in 2021. Therefore, the increasing sales of passenger vehicles are driving the chloromethane market.
The chloromethane market report table of contents includes:
1. Executive Summary
- Chloromethane Market Characteristics
- Chloromethane Market Trends And Strategies
- Chloromethane Market – Macro Economic Scenario
- Global Chloromethane Market Size and Growth
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31. Global Chloromethane Market Competitive Benchmarking - Global Chloromethane Market Competitive Dashboard
- Key Mergers And Acquisitions In The Chloromethane Market
- Chloromethane Market Future Outlook and Potential Analysis
- Appendix
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