Global Chloromethane Market Is Projected to Grow at a Substantial Rate by 2026
The Latest Research Report "Chloromethane Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz
Chloromethane, also known as methyl chloride, belongs to a group of organic compounds called halo alkanes. Chloromethane occurs in the form of extremely flammable colorless gas, which is usually detected at toxic levels. Chloromethane is synthesized by boiling a mixture of sodium chloride, sulfuric acid, and methanol. A large amount of chloromethane is produced naturally in the oceans through the action of sunlight on chlorine and biomass in the sea foam. Chloromethane is primarily utilized in the manufacture of silicone polymers and in petroleum refining. Chloromethane was earlier used as a refrigerant, but it was discontinued due to high flammability and toxicity of the compound.
Global Chloromethane Market: Overview
The chloromethane market has been segmented based on type and application. Based on type, the market has been divided into methyl chloride, methylene chloride, chloroform, and carbon tetrachloride. Among these, methyl chloride is the leading segment, as methyl chloride is largely used in medical and pharmaceutical industries. In terms of application, the global chloromethane market can be segmented into pharmaceutical, silicon, medical, foam blowing, and chemical intermediaries. Silicon is expected to be the leading application segment during the forecast period, owing to significant demand for silicon from medical and personal care industries. Moreover, increasing household incomes and rising living standards in Asia Pacific are fueling the demand for high-quality products containing silicone in the region.
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Global Chloromethane Market: Trends & Developments
The chloromethane market is largely driving by its significant applications in various end-use industries such as transportation, automotive, medical, and personal care. The significant performance of silicone has increased its usage across a range of industries. This, in turn, promotes growth of the chloromethane market. However, growing health concerns due to the hazardous impact of chloromethane led by its high toxicity and flammability are anticipated to hamper the global chloromethane market during the forecast period. The growing R&D activities for developing innovative techniques for use in the production of chloromethane are projected to offer new growth opportunities to the global chloromethane market in the next few years.
Global Chloromethane Market: Regional Outlook
Asia Pacific is anticipated to the leading global chloromethane market across the world in the near future, due to less stringent regulatory norms and rising industrial activities across various end-use industries such as pharmaceutical. Furthermore, the significant from demand infrastructure activities is also estimated to drive the global chloromethane market in the region in the next few years. Demand for chloromethane from developing as well as developed economies such as China, India, and Japan is projected to increase significantly from 2018 to 2026, owing to increase in the demand for chemical intermediates, pharmaceuticals, and foam-blowing agents in these countries. The global chloromethane market in North America and Europe is estimated to expand at a moderate pace, due to growing environmental concerns related to toxic gas emissions from industries. The global chloromethane market in Latin America and Middle East & Africa is expected to witness for considerable growth between 2018 and 2026, owing to the rising demand for chloromethane from various end-use industries such as automotive and pharmaceutical in these regions.
Global Chloromethane Market: Key Players
Asahi Glass Co. Ltd., Alfa Aesar, Akzonobel N.V., Ercros S.A, Gujarat Alkalies and Chemicals Ltd., INEOS Group, Kem One, Occidental Chemical Corporation, Shin-Etsu Chemical Co. Ltd., Solvay, SRF Ltd., The Dow Chemical Company, and Tokuyama Corporation are prominent players operating in the global chloromethane market.
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MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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