Market Scenario
The global chloromethane market is presumed to garner 2171.6 million during the forecast period (2020-2027). The market is estimated to register 4.63% CAGR owing to its extensive usage in the automotive sector, asserts Market Research Future (MRFR). Chloromethane is used as precursors for the production of drug manufacturing and silicone polymers. An extremely flammable colorless gas, chloromethane has a mild sweet odor and is highly toxic in nature when detected in abundance. Naturally, chloromethane is produced by the action of sunlight on biomass and chlorine present in sea form. It can also be synthesized by boiling mixture of methanol and sodium chloride.
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Drivers and Constraints Impacting the Market
Chloromethane is extensively used in construction, automotive, and medical sector which is driving the market globally. With increased construction activities in the developing and developed countries, the market is considered to flourish during the estimated period. The growing demand from the silicone industry is also presumed to influence the market positively. It is extensively preferred over other haloalkanes due to its use as an extracting agent for gases, resins, and oils. Its rising application scope as a propellant and blowing agent in the production of polystyrene foam is further considered to stimulate the market during the review period.
On the flip side, shifting preferences towards bio-based sources and environmental concerns are likely to impede the market growth in the coming years. Moreover, exposure to a high concentration can cause health hazards such as confusion, drowsiness, dizziness, and breathing difficulty, which is considered to be a major restraining factor in the growth of the market.
Regional Insights
Geographically, the chloromethane market span across regions namely, Asia Pacific, North America, Europe, and the Rest-of-the-World.
Among all the regions, Asia Pacific is considered to account for the largest market share and is estimated to maintain its dominance. The growth is attributed to the robust industry growth of the end-users like silicone polymers and pharmaceuticals. Changing lifestyle in the emerging companies along with growing household demand has triggered the demand for chloromethane in this region. China, being the largest producer of chloromethane with the presence of large-scale industrial units in order to tap abundant resources is further propelling the market growth in this region.
The European market is experiencing sluggish growth owing to the strict government mandates associated with the emission toxic industrial gas which has led the manufacturers to switch to eco-friendly products.
The North American market is considered to register steady growth rate during the review period. The growth is attributed to the expansion of pharmaceutical and personal care sector.
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Global Chloromethane Market: Segmental Analysis
The global chloromethane market has been segmented on the basis of type, application, and region.
By mode of type, the global chloromethane market has been segmented into methylene chloride, chloroform, carbon tetrachloride, and methyl chloride. Among these, the segment for methyl chloride is considered to be the dominating segment and is highly used in the pharmaceutical and medical industries. It is also used as an immediate feedstock for chloroform, methylene chloride, and carbon tetrachloride production, which is further driving the segment.
By mode of application, the global chloromethane market has been segmented into pharmaceuticals, agrochemicals, silicone polymers, personal-care, chemical intermediate, medical, and others. Among these, the silicone polymers are considered to dominate the global market owing to its several applications such as automotive, construction, and medical.
Industry Updates
January 02, 2018: SRF Limited has informed that the company has completed its capitalization and commissioning of chloromethane plant at SRF’s chemical complex in Dahej. The manufacturing capacity of the plant is around 40,000 tons per annum. The Board of Directors had approved the capital expenditure for setting up the plant in Dahej with an estimated cost of Rs180cr.
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Competitive Dashboard
The noteworthy players operating the global chloromethane market are Solvay SA (Europe), Alfa Aesar (U.S), Akzonobel N.V.(Europe), Gujarat Alkalies and Chemicals Ltd (India), Shin-Etsu Chemical Co. Ltd. (Japan), INEOS Group (Europe), The Dow Chemical Company (U.S), Tokuyana Corporation (Japan), Occidental Chemical Corporation (U.S.), Asahi Glass Co. Ltd. (Japan), and others.
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