The Chloromethane Market is expected to register a CAGR of over 4% during the forecast period (2023-2028)
Chloromethane is a derivative of methane; it is a colorless, poisonous, highly flammable gas with a slightly sweet odor. It is shipped in liquid form under vapor pressure. Initially, chloromethane was used as a refrigerant, but it was discontinued due to its toxicity and flammability. This is widely used in the manufacture of active pharmaceutical ingredients and in the silicone industry and is also used in other chemicals.
Most of the chloromethane produced is used as a raw material in the manufacture of chemical intermediates such as methyl chlorosilanes. These methyl chlorosilanes are used in the manufacture of silicone fluids. Silicone chloromethane fluids are used in a wide range of products, including processing aids (anti-swelling agents, mold release agents, and light lubricants) and specialty chemicals for consumer products (cosmetics, polishers, and paper. self-esteem). Silicone resins are used in hydrophobic resins, coatings, molding resins, electrical insulation, laminate resins, etc. Chloromethanes exhibit properties such as solubility in organic solvents, water repellency, and flexibility. These are highly used in the automotive and automobile industries. In addition, in the building industry, silicones are used in glazing and bonded exterior waterproofing, while contributing to the energy efficiency of buildings. They also help improve shop productivity, reduce material waste, extend building life, and reduce life cycle costs. These factors are expected to promote the growth rate of the chloromethanes market.
Increasing utilization of chloromethanes in various industries such as pharmaceutical, personal care, and others are elevating the demand of the market. Rising demand for silicone elastomers in various end-use industries, such as construction and automotive, is expected to drive market growth during the forecast period. Chloromethanes are colorless, water-soluble, and highly flammable organic compounds with a slightly sweet odor. They are prepared by the reaction of hydrogen chloride and methanol and can also be produced alternatively by the chlorination of methane. Increasing affordability and growth in passenger car sales are also expected to drive demand for silicone polymers. The demand for silicon polymers in the automotive industry is attributed to regulations on vehicle weight. Light vehicles save fuel and therefore reduce carbon emissions. Automotive production is increasing dramatically in Asia, driving the demand for silicone polymers in the region.
Strict regulations on methyl chloride and the negative impact of the COVID-19 pandemic are the main constraints, which are expected to hamper the growth of the chloromethanes market. The high levels of toxicity and environmental issues associated with the use of Chloromethane may hamper the growth of the market.
Ongoing research and development activities to introduce new products in favor of the end users are setting up growth opportunities for the market.
The consumption of products in Germany and other European countries is expected to face challenges from the European Union (EU) as it has classified chloromethane as an ozone-depleting substance, which is expected to affect the market demand for chloromethanes market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
4% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Methylene Chloride
Methyl Chloride
Carbon Tetrachloride
Chloroform
Methylene chloride or dichloromethane dominated the market with a 66.8% market share in 2020. Methylene chloride is mainly used as an industrial solvent and as a chemical intermediate in the production of polyurethane foams, adhesives, and aerosols.
Silicone polymers accounted for a 6.1% revenue share of the global chloromethane market and are expected to experience a CAGR of 5.4% between 2021 and 2026. These polymers are mainly used in electronic applications, such as keyboards, moving parts, and copy rollers. Another important application of silicone is in the production of consumer goods, particularly personal care products and kitchen utensils. The growing electronics and personal care industry is therefore a major driver of silicone polymers.
The Chloromethanes Market Report includes the segmentation of Regions:
China is the world's second-largest pharmaceutical market. The pharmaceutical market is emerging rapidly due to the growing middle class and aging society in the country, increasing income, and increasing urbanization. The country's pharmaceutical sales are expected to reach $ 180 billion by 2026. Additionally, the Chinese government has promulgated Healthy China 2030, a plan that outlines its current intentions to prioritize health as a prerequisite for sustained social and economic development. Growing investments and a rising number of construction activities are leveraging the demand of the market. Rising investments in the construction of buildings with the latest technologies are merely propelling the growth rate of the chloromethanes market. According to the National Bureau of Statistics of China, China generated CNY 24.84 trillion in 2020 in the construction industry. This attribute is likely to promote the growth rate of the market eventually. China is investing $ 1.43 trillion over the next five years through 2025, in large constructions. Projects. According to the National Development and Reform Commission (NDRC), Shanghai's plan calls for an investment of $ 38.7 billion over the next three years, while Guangzhou signed 16 new infrastructure projects with an investment of $ 8.09 billion. In India, growing consumerism is driving the demand for personal care products, which in turn is driving the market demand in the country. In addition, the Indian government has been actively pushing for housing construction with the aim of providing housing for some 1.3 billion people. The country is expected to see around $ 1.3 trillion in housing investment over the next seven years. In addition, it is likely to witness the construction of 60 million new homes in the country. Rising support from the government is escalating the growth rate of the market.
The chloromethane market was affected by COVID-19 in 2020. Due to the pandemic scenario, several countries around the world have been blocked to slow the spread of the virus. Due to COVID-19, the supply chain is completely disrupted negatively affecting the shares of the chloromethanes market. However, the market shares rise up tremendously during the forecast period 2023- 2027 as activities were resumed across the world.
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