Press release
Chloromethanes Market to Attain $3,286.9 Million in 2024
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As per a report by P&S Intelligence, in 2018, the global chloromethanes market generated a revenue of $2,675.9 million and is predicted to reach a value of $3,286.9 million in 2024, advancing at a 3.4% CAGR during the forecast period (2019-2024). The different types of chloromethane are methylene chloride, chloroform, methyl chloride, and carbon tetrachloride. Out of these, the largest demand during 2014-2018 was created for methylene chloride and the situation is projected to remain the same during the forecast period as well. The reason for this is the extensive usage of this chemical in different industrial applications. The fastest growth in demand is expected to be witnessed by the carbon tetrachloride type.
A major driving factors of the chloromethanes market is the large-scale production of solvents. The requirement for chloromethanes is rising due to the essentiality of these chemicals as raw materials for the production of industrial solvents. A huge quantity of chloromethanes is processed commercially for producing dimethyldichlorosilane and related organosilicon products. Different forms of silicones are utilized for the production of lubricants, cooking utensils, sealants, adhesives, and medicines, and for thermal and electrical insulation. Apart from this, derivatives of chloromethane including methyltrichlorosilane and trimethylsilyl chloride are utilized as solvent in the manufacturing process of butyl rubber and during petroleum refining.
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Some other players operating in the chloromethanes market are Alfa Aesar, American Elements, Banner Chemicals Group, Hanwha Group, Henan GP Chemicals Co. Ltd., Jiangsu Ruifeng Polymer Materials Co. Ltd., Kumho Mitsui Chemicals, LOTTE Fine Chemical, Olin Corporation, and Richard Geiss GmBH.
Chloromethanes Market Segmentation
Market Segmentation by Type
Methyl Chloride
Methylene Chloride
Carbon Tetrachloride
Chloroform
Market Segmentation by Application
Silicone Polymers
Agrochemicals
Chemicals and Intermediates
Adhesives
Pharmaceuticals
Refrigerants
Others
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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