Global Chloromethane Market is valued at approximately USD 5.287 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.9% over the forecast period 2023-2030. Chloromethane, commonly known as methyl chloride, is a chemical molecule that belongs to the haloalkanes category of organic chemicals. It is a hazardous gas that is very flammable and has a pleasant odour. Chloromethane is generally produced by the activity of sunlight on biomass and chlorine present in the ocean structure. Chloromethane was initially used as a refrigerant. Growing demand from the pharmaceutical and personal care sectors, as well as the ongoing production of higher chlorinated methane and rapid industrialization, fuel the need for chloromethane. Also, rising affordability and increased passenger car sales are expected to drive market expansion. As cars get lighter, the need for silicone polymers in the automobile sector rises.
Increasing Silicon usage in personal care and medical applications can drive the market. The majority of chloromethane generated is utilised as a feedstock in the production of chemical intermediates such as methyl chlorosilanes. These methyl chlorosilanes are used in the manufacturing of silicone fluids. Chloromethane-based silicone fluids are used in a variety of goods, including processing aids and specialized chemicals for consumer products. According to the Global Silicones Council, in 2019, the construction industry sells an estimated 673,000 tones of silicone materials each year, the highest amount marketed among other industries such as automotive, paints and coatings, and others. According to the IMF, the worldwide construction industry’s income is predicted to expand gradually over the next several years, reaching USD 4.4 trillion by 2030. Additionally, Ongoing research and development in the production of chloromethane are expected to offer various lucrative opportunities for market growth also Increasing international trade of fresh food products and an increase in demand for perishable foods from consumers. However, the high toxicity level and environmental concern stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Chloromethane Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to increasing pharmaceuticals and growing demand for silicon. The pharmaceutical market is rapidly emerging due to the country’s growing middle-class and aging society. The pharmaceutical sales of the country reached USD 175 billion by 2022.According to International Trade Administration, China is investing USD 1.43 trillion in major construction projects in the next five years till 2025. According to National Development and Reform Commission (NDRC) While Guangzhou inked 16 new infrastructure projects with an expenditure of USD 8.09 billion, the Shanghai plan calls for an investment of USD 38.7 billion over the following three years. The predicted total volume of silicon produced worldwide in 2021 was 8 million metric tons. China is the greatest producer of silicon in the world, with a volume of output estimated at six million metric tons. in 2021, followed by Russia, which produced 580,000 metric tons in the same year. North America is expected to grow significantly during the forecast period, owing to the significant presence of industries such as chemicals, pharmaceuticals, electronics, and automotive, which are major consumers of chloromethane. These industries often require chloromethane as a solvent, intermediate, or chemical feedstock for various manufacturing processes.
Major market player included in this report are:
Asahi Glass Pvt. Ltd.
AGC Chemicals Pvt Ltd.
Gujarat Alkalies and Chemicals Ltd.
Occidental Chemical Corp.
Shin-Etsu Chemical Co. Ltd.
Dow Chemical Company
Recent Developments in the Market:
Ø In January 2023, Nouryon, a worldwide speciality chemical company, announced the purchase of a Poland-based producer of chelated micronutrients, foliar, and other specialist agricultural solutions. With this purchase, the firm is able to increase its services and product offerings to industrial clients.
Ø In May 2022, GC Inc., a multinational maker of glass and chemicals, boosted the capacity of AGC’s chlor-alkali operation in the Indochina Peninsula The yearly manufacturing capacity of caustic soda, polyvinyl chloride (PVC), and vinyl chloride monomer increased with a USD 0.76 billion expenditure.
Global Chloromethane Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Middle East & Africa
Rest of Middle East & Africa