Chloromethane Market

Chloromethane Market Forecast (2023-2028):

The chloromethane market was valued at US$ 4.02 billion in 2022 and is anticipated to increase with a CAGR of 4.28% during 2023-2028

Chloromethane is a chemical substance that belongs to the haloalkanes class of natural compounds. It's a highly flammable gas with a sweet odor that's also toxic. Although chloromethane is abundant in nature, it can also be manufactured synthetically. Chloromethane is produced naturally when sunlight interacts with biomass and chlorine in the ocean structure. Chloromethane was initially used as a refrigerant. However, the use of chloromethane is not recommended for personal use due to its toxicity. Methylene chloride, methyl chloride, carbon tetrachloride, and chloroform are examples of chloromethane.

Moreover, chloromethane, commonly known as methyl chloride or Refrigerant-40, has been primarily utilized in refrigeration technology. It has a fragrant scent and is mixed with a series of natural combinations known as haloalkanes. It can be used as a refrigerant, mechanical dissolvable, silicone polymer, research facility synthetics, and chlorinating expert, among other things.

Chloromethane Market Drivers:

Chloromethane is being used more frequently in pharmaceuticals and synthetic chemicals. Furthermore, the widespread use of chloromethane in various applications, such as the development of higher chlorinated methane, is likely to propel the global chloromethane market. The demand for chloromethane is predicted to rise as developing countries such as China and India become more industrialized. Chloromethane is also majorly utilized to make methylate silicon, as well as agricultural synthetic chemicals such as methylcellulose, quaternary amines, and butyl rubbers. Moreover, majorly because of the various applications of chloromethane, the market is anticipated to seek praise in the next six years. The production of chemical intermediates such as methyl chlorosilanes uses a large portion of the chloromethane produced as feedstock. For example, silicone fluids are manufactured using these methyl chlorosilanes. Silicone fluids derived from chloromethane are utilized in various products, including antifoaming agents, releasing agents, light-duty lubricants, and specialty chemicals for consumer goods (cosmetics, furniture polishes, auto polishes, and paper coatings). Silicones are a superior material to use as intermediates because of their properties, including solubility in organic solvents, water repellency, and flexibility. Silicone elastomers are utilized as adhesives and sealants in the construction sector and in automotive applications such as wire and cable insulation and surgical and other medical uses.

Furthermore, silicones are employed in structural glazing and weatherproofing in the construction industry, increasing energy efficiency. They also aid in increasing in-shop productivity, reducing material waste, extending the life of buildings, and lowering lifecycle expenses. In the following years, the factors above are projected to continue to promote silicone usage, hence driving the chloromethane market. Over the projected period, rising demand for silicone elastomers across various end-use sectors, such as construction and automotive, is expected to fuel market expansion. Chloromethane is colorless, a water-soluble chemical compound that is very combustible and has a slightly pleasant odor. They're made by combining hydrogen chloride with methanol, but they can also be made by chlorinating methane. Other chemicals, such as methylene chloride and chloroform, are produced during the chlorination process.

Chloromethane Market Restraints:

The limited use of chloromethane as a refrigerant in the current context is challenging for the global chloromethane market. However, chloromethane is gradually being introduced into additional industrial uses, such as anesthesia and silicone polymerization, by key market participants.

CHLOROMETHANE MARKET REPORT COVERAGE:

Market Segmentation: 

Chloromethane Market By Product Type:

• Methyl chloride

• Carbon tetrachloride

• Methylene chloride

• Chloroform

During 2022 - 2027, the carbon tetrachloride market dominates the global chloromethane market and is predicted to grow at a CAGR of 3.4 percent. Carbon tetrachloride is utilized in a variety of products, including refrigerant precursors, cleaning chemicals, and fire extinguishers. Its primary application, however, is in the refrigerant sector. The demand for refrigerants is predicted to increase as the world temperature rises in tandem with rising disposable income in emerging economies. Moreover, air conditioners, mobile air conditioning systems, and chillers are all common uses for chloromethane-based refrigerants.

Methylene chloride, often known as dichloromethane, is anticipated to have the highest CAGR in the global chloromethane market.  Methylene chloride is primarily utilized as a solvent in the manufacturing of polyurethane foams, adhesives, aerosols, and chemical intermediaries. On the other hand, because it is a highly dangerous compound, the US EPA has barred its use in all paint removers for consumer use. The pharmaceutical, transportation, and food and beverage industries, on the other hand, will drive segment growth.

Chloromethane Market By Application:

• Agriculture chemicals

• Silicones

• Personal care

• Chemical intermediate

• Pharmaceuticals

Based on application, the pharmaceutical segment led the chloromethane market, accounting for 34.7 percent of total sales. According to Pharma World Magazine, the pharmaceutical sector is expected to expand to US$ 1.5 trillion by 2023. This expansion is expected to assist related industries. Chloromethane is a chemical intermediary used in the manufacturing of pharmaceuticals. Methylene chloride is primarily employed in the extraction of several medicinal chemicals as well as the manufacture of antibiotics and vitamins as a re-crystallization and reaction solvent.

Due to increased demand for silicone polymers in building items, the construction category is expected to account for the second biggest market share. Pre-fabricated concrete, paver stones, ready-mix concrete, dry-mix mortars (self-leveling underlayment, stucco/render, grouts), and construction materials all use these polymers to improve performance and processing. In addition, rapid urbanization and expanding redevelopment and refurbishment activities are driving the growth of the building and construction industry in emerging economies.

Chloromethane Market Regional Analysis: 

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle east and Africa 

During 2022 - 2027, the Asia-Pacific region is expected to lead the chloromethane market. The market for chloromethane has been rising in nations such as China, India, Japan, and South Korea, owing to rising demand from various end-user sectors. China is the world's second-largest pharmaceutical market. Because of the country's growing middle class and aging society, rising affluence, and increasing urbanization, the pharmaceutical business is fast developing. Furthermore, the demand for silicones is expected to rise during the forecast period, owing to rising investments and construction activities in the country.

Through 2026, North America's chloromethane market share is expected to grow significantly. The growing use of silicone polymers in the automotive and other important industries is driving regional demand. These materials were widely utilized by some exterior automotive applications. The increased production of automobiles will undoubtedly increase product demand in the future. Increased investments in the pharmaceutical and medical sectors, where methyl chloride is commonly utilized, will amplify this demand.

Because of the presence of major manufacturers like AkzoNobel and Nouryon, Germany is one of the leading producers and exporters of chloromethane. Chloromethane’s popularity in Germany is primarily due to its increasing use in pharmaceutical applications such as drug manufacturing and as a local sedative in medications, which is further responsible for the chloromethane market growth in Europe

Impact of COVID-19 on the Chloromethane Market:

Chloromethane manufacturers had seen a drop in demand due to the COVID-19 epidemic and its related disruptions. Due to supply chain challenges and workforce shortages, some industries were compelled to temporarily halt operations or operate at reduced capacity due to government limitations. As a result, the demand for silicone polymer-based products has reduced. Increased investments in the healthcare and pharmaceutical industries to ramp up products and services for COVID-19 patients, on the other hand, may have had a favorable impact on chloromethane demand.

Recent Developments in the Global Chloromethane Market:

•  in Germany, Nouryon started a project in order to increase the capacity for chloromethane.

• AGC announces that its Board of Directors approved a resolution on March 18, 2021, to integrate and reorganize its three consolidated subsidiary companies, AGC Chemicals (Thailand) Co., Ltd (hereinafter "ACTH"), Vinythai public company limited as VNT, and also AGC Chemicals Vietnam Co. Ltd as ACVN respectively.

Chloromethane Market Key Players:

The companies covered in the report include:

1. AGC Chemicals

2. Gujarat Alkalies and Chemical Limited

3. Gujarat Fluorochemicals Limited

4. KEM ONE

5. Merck KGaA

6. Nouryon

7. Occidental Petroleum Corporation

8. Shin-Etsu Chemical Co. Ltd

9. The Sanmar Group

10. Tokuyama Corporation