Press release
Chloromethane Market Emerging Audience, Share Value, Size Estimate, Region Overview, Business Opportunities, Sales and Revenue Chain Structure till Forecast 2023
Chloromethane Market
Market Insights
Chloromethane is a highly flammable colorless gas which is produced naturally and is used to produce derivatives which have applications across several industry verticals. The global chloromethane market is set to witness average growth at a CAGR of 4.63% during the forecast period of 2016 to 2022. This and other projections have been made in Market Research Future's(MRFR) latest report on the subject. The chloromethane market is poised to reach an approximate evaluation of USD 2171.6 Mn by the end of 2022.
Chloromethane has extensive use in various industries through its derivatives which work as a significant driver as the original compound itself is cheaply and abundantly available. For instance, methyl chloride is used in the production of methylene chloride, carbon tetrachloride, and chloroform. Methylene chloride is used in metal cleaning, as a blowing agent in the form of foam and in the pharmaceutical industry. during the forecast period, a significant driver of note is the growing silicone industry application where chloromethane derivatives find application in medical and personal care industries. Used in silicone polymer production, chloromethane demand has increased significantly along with the rapid growth faced by the various end-use industries that use the compound; these include automotive,personal care and electronics.
Prestigious Players
The Dow Chemical Company
Asahi Glass Co. Ltd
Gujarat Alkalies and Chemicals Ltd
Alfa Aesar
Akzonobel. Other important players of note include Solvay SA
Occidental Chemical Corporation
Tokuyana Corporation
Shin-Etsu Chemical Co. Ltd
INEOS Group
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Latest Industry News
Increasing demand Akzonobel to announce expansion plans of chloromethane production in Germany. The work on the expansion in the Frankfurt site is expected to continue over the next five years and raise the total capacity of the site by 50%.
Industry/ Innovation/ Related News
May 2017- AkzoNobel and Gujarat based Atul chemical announced plans to set up a Monochloracetic acid (MCA) plant and the production is expected to commence by 2019. MCA plant is set to start with initial capacity of 32,000 tons per year. With this AkzoNobel strengthen its position in global chloromethane market.
March 2017- GFL is planning to restructure its chemical segment and separate its chemical business into a separate business group.
February 2017- Meghmani Finechem Ltd, a subsidiary of Meghmani Organics Ltd announced to setting up chloromethane plant of 40,000 metric tonne per annum at Dahej, Gujarat. With this expansion, the unit will manufacture chloroform, carbon tetra chloride, and methylene dichloride. The company will be able to meet the growing demand of agrochemical and pharmaceutical for methylene dichloride.
January 2016- AkzoNobel and Evonik Industries will start production for chlorine and potassium hydroxide solution in Germany. With this joint venture, the company expand its business and strengthen its position in chloromethane market.
November 2016- GACL will set up a chloromethane plant with annual capacity of 105,000 TPA or 315 MT per day at Dahej location. With this expansion the company expand its business and further increase its presence in chloromethane market across the Asia Pacific.
March 2016- The Olin Corporation took the decision to reduce the capacity of chlor alkali capcaity by 433,000 tons across three different locations namely, Henderson, Niagara falls, Freeport. The company will restructure its business segment and will shift their focus on other business areas
Market Segmentation
Chloromethane Market is segmented on the basis of types, application, and region. By types, the market is segmented into methylene chloride, methyl chloride, carbon tetrachloride, and chloroform. Methyl chloride is the largest segment due to its extensive use in the burgeoning pharmaceutical and medical industries.
By application, the market is segmented into pharmaceuticals, silicone polymers, agrochemicals, chemical intermediate, personal care, medical, and others. The silicone polymers application segment possesses the largest share of the market due to the extensive use of chloromethane in silicone polymers which are in turn facing high demand from the automotive, personal care and electronics industries.
By region, the global market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
Regional Analysis
Globally, the market is led by the Asia-Pacific. End-user industries such as pharmaceuticals and silicon polymers are growing at a rapid pace in this region. Growing rapidly as an industrial hub, the region has many manufacturing plants across for various industries, including those which extensively use chloromethane. Moreover, there are many leading market players in the region which contribute to its leading position. China leads growth due to the presence of several large-scale industrial units. Moreover, the lenient regulations in the region and rising disposable incomes have led to a high demand for end-use products which use chloromethane.
Full Report Detail Analysis is Available @ https://www.marketresearchfuture.com/reports/chloromethane-market-2417
The report about Global Chloromethane Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
Intended Audience
Chloromethane manufacturers
Traders and distributors of Chloromethane
Types industries
Potential investors
Raw material suppliers
Nationalized laboratory
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
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