Chloromethane Market Overview
Chloromethane or methyl chloride is a hydrocarbon that is primarily used as an industrial solvent in numerous applications such as refrigerant, cleaning solutions, and others. The industrial chloromethane is formed through number of reaction technology and refining technology, by reacting methanol with hydrogen chloride. However, chloromethane naturally produced in the oceans by the action of sunlight on biomass and chlorine in sea foam.
Market Size and Forecast
Global chloromethane market is expected to witness a robust growth over the forecast period. The market is expected to thrive at notable CAGR during the projected period of 2017-2027. Global market of chloromethane is expected to rise on the back of wide range of industrial application of chloromethane and rapid industrialization across the globe.
The market is segmented in five major regions including North America, Asia Pacific, Europe, Middle East & Africa and Latin America regions. Asia Pacific grabbed lion shares of global chloromethane market in 2016 and is expected to maintain this growth over the forecast period owing to rapid industrialization in Asian countries. Electronics and automotive are some of the key applications of chloromethane. Further, growing automotive sector and rising demand for electronic products in Asia Pacific region is expected to enhance the growth of market in the region over the forecast period.
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Apart from Asia Pacific, North America chloromethane market is expected to grow at satisfactory pace over the forecast. Large base of facilities that produce or process chloromethane in the United States and rapidly growing synthetic rubber production in North America is expected to be the dynamic factors behind the growth of chloromethane market in North America region during the forecast period.
The market of chloromethane is further segment by application into refrigerant, pharmaceuticals, silicone polymers, chemical intermediate, cleaning solutions, coating and others. Higher chlorinated methanes such as methylene chloride, chloroform, and carbon tetrachloride has a number of applications such as, piping inlet coating, cable and wire insulation, anti-stick coating and in medical products such as syringe, catheters and more. However, silicone polymers segment is showcasing great potential for future growth owing to rise in demand for synthetic rubbers in plentiful end-use applications.
Market Segmentation
Our in-depth analysis has segmented global chloromethane market into the following segments:
By Product
- Methyl Chloride
- Methylene chloride
- Chloroform
- Carbon tetrachloride
By Application
- Refrigerant
- Pharmaceuticals
- Silicone polymers
- Chemical intermediate
- Cleaning Solutions
- Coating
- Others
By Region
Global chloromethane market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Drivers & Challenges
Further, rising application of chloromethane in pharmaceutical, chemicals, automotive and other industries is expected to boost the growth of chloromethane market during the forecast period. Further, extensive consumption of chloromethane in diverse applications such as in production of higher chlorinated methanes is also an important factor driving the chloromethane market. Rapid industrialization in developing countries such as China and India is also augmenting the consumption of chloromethane across the globe. Development of new plants to meet the global demand for chloromethane is also expected to enhance the growth of market over the forecast period. For instance, The Meghmani Finechem Ltd invested Rs 140 crores to set up a chloromethane plant with capacity of 40,000 metric tons per annum (MTPA) in Gujarat. Additionally, increasing usage of chloromethane in the production of medicine and a solvent in the synthetic rubber industry is also pushing the market of chloromethane across the globe. Chloromethane is also used to make methylate silicon and in the production of agricultural chemicals, methyl cellulose, quaternary amines, and butyl rubbers. Such wide range of application of chloromethane is expected to drive the growth of market in future. However, high toxicity and flammability of chloromethane is major concerns which are expected to restrict the growth of market over the forecast period. A number of harmful effects of chloromethane, if directly expose to a person such as drowsiness, dizziness, or confusion and difficulty in breathing, walking or speaking are also expected to restrain the expansion of market.
Top Featured Companies Dominating The Market
- The DOW Chemical Company
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Shin-Etsu Chemical Co., Ltd.
- KEM One
- AkzoNobel N.V.
- Occidental Petroleum Corporation
- Solvay S.A.
- Tokuyama Corp.
- Gujarat Alkalies & Chemicals Ltd.
- SRF Limited
- AGC Chemicals
- Other Notable Players
