Overview and Scope
Chloromethane refers to a clear, colorless gas and toxic gas that is extremely flammable and heavier than air. They are used as a refrigerant and in many industrial applications.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the chloromethane market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the chloromethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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
Key Industry Players
Major companies operating in the chloromethane market report are Dow Inc., Asahi Glass Co. Ltd., Gujarat Alkalies & Chemicals Ltd., AkzoNobel N.V., Solvay SA, Occidental Chemical Corporation, Ineos Group Holdings SA, Kem One SAS, Shin-Etsu Chemical Co. Ltd., Tokuyama Corporation, AGC Chemicals Ltd., Nouryon BV, Sanmar Group, SRF Limited, Fisher Scientific Inc., Gujarat Fluorochemicals Limited, Tokyo Chemical Industry Co. Ltd., BASF SE, The Chemours Company, Ercros S.A., China Petroleum & Chemical Corporation, Jiangsu Yangnong Chemical Group Co. Ltd., Celanese Corporation, Alkyl Amines Chemicals Limited, Merck KGaA, Praxair Inc., Puyang Shenghuade Chemical Co. Ltd., Shandong Dongyue Chemical Co.Ltd., Shandong Taihe Technologies Co. Ltd., Shandong Xinlong Group Co.Ltd.
The chloromethane market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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