Chloromethane Market is projected to be worth USD 6.5 Billion by 2030, registering a CAGR of 4.18% during the forecast period (2021 - 2028).
In 2022, the Chloromethane Market Value is registered as USD 2171.6 Million, and is anticipated that the Chloromethane Market Size is grown at 4.63% CAGR during the forecast period.
Chloromethane is a group of organic compounds is called haloalkanes. It has the benefits like extremely flammable, colorless gas, mildly sweet odor, and is highly toxic when detected in abundance. Chloromethane can be manufactured both naturally and synthetically. By the action of sunlight in biomass and chlorine present in the sea form is the process of chloromethane production naturally. The synthetic process was chloromethane was synthesized by boiling the mixture of sodium chloride and methanol.
Primarily, chloromethane is used as a refrigerant, and later due to its highly toxic levels, it is avoided in consumer products. At present, this is used as a chemical intermediate to produce derivatives of chloromethanes like methyl chloride, methylene chloride, carbon tetrachloride, and chloroform. Chloromethane is used in the production of silicone polymer and butyl rubber. Methylene chloride is used in various applications like metal cleaning and the pharmaceutical industry. Chloroforms are used in pharmaceuticals, agricultural products, and chemical intermediates. Growing demand for carbon tetrachloride in pharmaceuticals, agrochemicals, blowing agents, and solvents are expected to rise the market growth. COVID-19 Analysis:
The COVID-19 pandemic is drastically impacted various sectors across the world. To curb the spread of the virus across the globe, various countries imposed lockdowns, and stringent government regulations like wearing masks, maintaining social distance, transportation bans, regular usage of hand sanitizer, business sectors, and educational sectors off, and many more.
Due to these factors, the supply and demand chain was completely disrupted which leads to the decline in the demand for chloromethane in various applications like personal care, agriculture, chemicals, and other applications. After the completion of lockdown, due to benefits and increased usage of chloromethane in various applications, the demand is rapidly increased and is expected to recover in 2021.Market Dynamics:
Growing demand as a chemical intermediate is driving the growth of the market. Increasing silicone usage in personal care and medical applications are the major factors that drive the Chloromethane Market during the forecast period. Chloromethane is used in the production of silicone polymer which increases the demand for end-use industries like automotive, personal care, and electronics. The silicone has superior properties like flexibility, solubility in organic solvents, and water repellence which makes the silicone an ideal choice as an intermediate.
Apart, growing affordability and increasing sales of passenger vehicles are also projected to fuel the market growth. Due to the less weight of the vehicles, the demand for silicone polymers in the automotive industry increases. As lightweight vehicles are more fuel-efficient and hence reduces carbon emissions. According to the report of the International Organization of Motor Vehicle Manufacturers (OICA), passenger cars production was grown from 67.8 million to 70.5 million between 2014 to 2018. Restraint:
Stringent government regulations regarding the storage, usage and handling of chloromethane and various environmental issues may cause several health issues like confusion, drowsiness, and breathing difficulty. These are the factors that restrain the market growth.Opportunities:
Increasing international trade of fresh food products, increase in demand for perishable foods from consumers, technological innovation in refrigerator transport & storage, and government support for the cold chain industry is expected to accelerate the growth of the Chloromethane Market.Challenges:
Chloromethane is highly poisonous and when comes to direct contact it may have various adverse effects on human beings.Study Objectives
The Chloromethane Market has been divided into segments based on Type, Application, and Region.Based on Type
Based on the Type, the Chloromethane Market is classified into four types as methylene chloride, methyl chloride, carbon tetrachloride, chloroform. Out of these types, methyl chloride is dominating the largest market share for the increasing usage of chloromethane in the medical and pharmaceutical industries. This is also used as immediate feedstock in the production of methylene chloride, chloroform, and carbon tetrachloride.Based on Application
By Application, the Chloromethane Market is bifurcated into silicon polymers, pharmaceuticals, agrochemicals, chemical intermediate, personal care, medical, and others. Among these, silicon polymers hold the largest market share for their growing usage as feedstock in the production of chemical intermediates like methyl chlorosilanes, and further, these methyl chlorosilanes are used in manufacturing silicone fluids. These silicone fluids made use of chloromethane in various products like processing aids and special chemicals for consumer products such as cosmetics, furniture polishes, auto polishes, and paper coatings.Based on Region
Region-Wise, the Chloromethane Market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. Among them, Asia-Pacific holds the largest market share due to the robust industry growth of the end-use industries like pharmaceuticals and silicone polymers.Regional Analysis
Geographically, the Chloromethane Market based on region is analyzed into Europe, North America, Asia-Pacific, and the Rest of the world. Out of these regions, Asia-Pacific accounts for the largest Chloromethane Market Share for their robust industry growth of the end-use industries like pharmaceuticals and silicone polymers. Lenient regulations, rising household demand, and changing lifestyles in emerging economies are accelerating the demand for the Chloromethane Market in this region. Due to the rising middle-class population and aging society, rising incomes, and growing urbanization in this region are predicted to boost the growth of chloromethane in the pharmaceuticals sector.
Moreover, due to the presence of large-scale industrial units to tap abundant resources, China is the largest producer of chloromethane material which propels the growth in this region. The rise in construction activities and increasing usage of chloromethane as cleaning products and paints removal make the Asia-Pacific region foster market growth. The National Bureau of Statistics of China states that the construction industry has increased from CNY 17.67 trillion to CNY 24.84 trillion between the period 2014-2019. In Europe, stringent government regulations have been imposed regarding the industrial toxic gas emission industry leads the manufacturers to prefer eco-friendly products which make Europe accelerate the market growth in this region. Competitive Landscape
The Prominent Key Players in the Chloromethane Market Outlook are the following:
This Chloromethane Market Research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the Chloromethane Market drivers, restraints, challenges, and opportunities. The Chloromethane Market Forecast Segments are Type, Application, and Region.Segmentation Table
The Chloromethane Market Trends have been segmented globally based on the Type, Application, and Region.By Type
Methylene chloride, methyl chloride, carbon tetrachloride, chloroformBy Application
Silicon polymers, pharmaceuticals, agrochemicals, chemical intermediate, personal care, medical, and others.By Region
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Dow Chemical Company (U.S), Asahi Glass Co. Ltd. (Japan), Gujarat Alkalies and Chemicals Ltd (India), Alfa Aesar (U.S), Akzonobel N.V.(Europe), Solvay SA (Europe), INEOS Group (Europe), Tokuyana Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Occidental Chemical Corporation (U.S.)|
|Key Market Opportunities||various environmental issues can cause health problems such as drowsiness, confusion and breathing difficulty.|
|Key Market Drivers||increasing demand of carbon tetrachloride owing to use in agrochemicals, pharmaceuticals, blowing agents and solvents etc.|
The chloromethane market is predicted to grow at a 4.63% CAGR between 2016-2022.
The global chloromethane market is predicted to touch 2171.6 million by 2022.
Asia Pacific is predicted to lead the chloromethane market during the forecast period for the growing silicone polymer and pharmaceutical industry.
Increasing use in personal care products, medicine, and automotive sectors are adding to the market growth.
Notable players profiled in the chloromethane market report include Occidental Chemical Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Tokuyana Corporation (Japan), INEOS Group (Europe), Solvay SA (Europe), Akzonobel N.V.(Europe), Alfa Aesar (U.S), Gujarat Alkalies and Chemicals Ltd (India), Asahi Glass Co. Ltd. (Japan), and The Dow Chemical Company (U.S).