Global Chloromethane Market Report and Forecast 2023-2028

Global Chloromethane Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global chloromethane market is projected to grow at a CAGR of 4% between 2023 and 2028. Aided by the pivotal role of the compound in an array of industrial applications, and the expanding realms of its utility, the market is expected to grow significantly by 2028.

Chloromethane, often referred to as methyl chloride, is a colourless, extremely flammable gas with a mildly sweet odour. Historically used as a refrigerant, its applications have diversified over time, finding utility in the production of silicone polymers, butyl rubber, and in the pharmaceutical industry. Given its ability to introduce methyl groups into organic molecules, chloromethane stands as a valuable tool in organic synthesis.

One of the most formidable drivers bolstering the global chloromethane market growth is its indispensable role in the production of silicone. As the demand for silicone surges in various applications, from healthcare to automotive, so does the need for chloromethane. Silicone's intrinsic properties like high thermal stability, resistance to UV, ozone, and moisture, combined with its flexibility, make it a material of choice in numerous industries.

Additionally, the increasing demand for high-quality pharmaceutical intermediates is influencing the chloromethane market outlook. In the pharmaceutical sector, chloromethane is essential in the production of various drugs, harnessing its properties for methylation in organic synthesis. As global health concerns rise and the pharmaceutical sector experiences robust growth, the demand for chloromethane follows suit.

Beyond the silicone and pharmaceutical sectors, the automotive industry is another significant consumer of chloromethane. With the drive towards lighter vehicles to promote fuel efficiency, there's been a shift towards utilising butyl rubber, a product of chloromethane, for manufacturing inner liners of tires, imparting reduced air permeability.

The geographic landscape of the chloromethane market has also seen significant shifts. Historically concentrated in North America and Europe, the Asia Pacific region holds a significant portion of the chloromethane market share, fuelled by the region's burgeoning industries and increasing focus on infrastructure development. This move towards Asia Pacific offers a plethora of opportunities for market players, with China and India standing out as significant growth engines.

Market Segmentation

The market can be divided based on product, application, end use, and region.

Market Breakup by Product

• Methylene Chloride
• Methyl Chloride
• Chloroform
• Carbon Tetrachloride
• Others

Market Breakup by Application

• Refrigerant
• Industrial Solvent
• Silicone Polymers
• Chemical Intermediates
• Methylating and Chlorinating Agents
• Propellant and Blowing Agents
• Catalyst Carrier
• Herbicide
• Local Anaesthetic
• Adhesives and Sealants
• Others

Market Breakup by End Use

• Pharmaceutical
• Agriculture
• Textiles
• Automotive
• Construction
• Paints and Coatings
• Personal Care Products
• Plastics and Rubber
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global chloromethane market. Some of the major players explored in the report by Expert Market Research are as follows:

• AGC Inc.
• Akzonobel N.V.
• Shin-Etsu Chemical Co. Ltd
• Gujarat Alkalies and Chemical Limited
• Nouryon
• Tokyo Chemical Industry Co., Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.