Key Market Overview:
Chloromethane Market size was valued at USD 5.04 Billion in 2022, registering a CAGR of 5.0% during the forecast period (2023-2030), and the market is projected to be worth USD 7.82 Billion by 2030.
Chloromethane, also known as methyl chloride, is a colorless, flammable gas with a mildly sweet odor. It is a halomethane compound that contains a halogen atom bonded to a carbon atom. Chloromethane is primarily used as a chemical intermediate in the production of a variety of chemicals, such as silicones, quaternary ammonium compounds, and pharmaceuticals boosting the demand for chloromethane. Additionally, the growing demand for chloromethane as a refrigerant and as a blowing agent used in the production of foam insulation is also propelling the market.
Moreover, Asia Pacific accounted for the largest shares in the chloromethane market in 2022 due to several factors such as the rapidly growing economy and the development of key end-use industries, such as electronics, automotive, and construction.
Chloromethane is widely used as a preliminary material for the synthesis of certain drugs, such as antibiotics and steroids. As the demand for these drugs continues to grow, the demand for chloromethane has an intermediate rise. Thereby, driving the chloromethane market in the pharmaceutical industry. Additionally, chloromethane is a key raw material for the production of silicones, which are widely used in various applications, such as automotive, construction, and electronics.
Chloromethane is classified as a hazardous substance by various regulatory bodies, including the US Environmental Protection Agency (EPA) and the European Union (EU). The production and use of chloromethane lead to environmental pollution and health risks for workers and nearby communities. As a result, there are increasing regulations on the use and production of chloromethane, therefore, limiting the chloromethane market growth.
The growing trend towards the use of eco-friendly products is expected to drive demand for chloromethane substitutes, such as bio-based chemicals, which could create new opportunities for market players. Researchers are exploring the use of chloromethane as a potential alternative to traditional refrigerants such as hydrofluorocarbons (HFCs), which have been found to contribute to climate change.
Chloromethane Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||7.82 billion|
|By Type||Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, Chloroform, and Others|
|By Application||Silicones, Agriculture Chemicals, Chemical Intermediate, Refrigerant, Industrial Solvent, Laboratory Chemicals, Methylating and Chlorinating Agent, Propellant and Blowing Agent, Catalyst Carrier, Local Anesthetic, Adhesives and Sealants, and Others|
|By End Use||Pharmaceutical, Agrochemicals, Textile, Automotive, Construction, Paints and Coatings, Personal Care Products, Plastics and Rubber, and Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Players||Asahi Glass Co. Ltd., Tokuyama Corp., Gujarat Alkalies and Chemicals Ltd., Shin-Etsu Chemical Co. Ltd., KemOne, SRF Limited, Merck KGaA, TCI Chemicals, LGC Limited, and Nobian|
Based on the type segment, the market is categorized into methylene chloride, methyl chloride, carbon tetrachloride, chloroform, and others. The methyl chloride segment holds the highest market share, due to its widespread use in a variety of industrial applications. Methyl chloride is used as a solvent, and a refrigerant, in the production of silicone. Additionally, they find application as a chemical intermediate in the manufacturing of drugs in the pharmaceutical industry.
However, the methylene chloride segment is anticipated to register the fastest CAGR in the chloromethane market over the forecast period. This is attributed to the fact that methylene chloride is widely used as a solvent in various industrial applications, such as paint stripping, degreasing, and metal cleaning. It is also used as a blowing agent in the production of polyurethane foam which is expected to increase the demand for the methylene chloride segment in the chloromethane market.
On the basis of application segment, the market is divided into silicones, agriculture chemicals, chemical intermediate, refrigerant, industrial solvent, laboratory chemicals, methylating and chlorinating agent, propellant and blowing agent, catalyst carrier, local anesthetic, adhesives and sealants, and others. The silicone segment dominated the chloromethane market in terms of revenue in 2022. Methyl-based silicone is widely used in a range of industries such as electronics and automotive due to its excellent solubility in organic solvents. Additionally, the rapid growth of industries including personal care and kitchenware is also increasing the demand for chloromethane-based silicone owing to their widespread use in these industries.
However, the chemical intermediate segment is anticipated to witness significant growth in the chloromethane market over the forecast period. This is attributed to the fact that chloromethane finds a wide range of applications in the production of a variety of chemicals and materials, including disodium methanearsonate, paraquat which further are utilized in the manufacturing of other agrochemicals
By End Use
On the basis of end-use industries, the market is segmented into pharmaceutical, agrochemicals, textile, automotive, construction, paints and coatings, personal care products, plastics and rubber, and others. The pharmaceutical industry held the largest share of the chloromethane market in terms of value. This is attributed to the high demand for intermediates in the production of drugs. Methylene chloride is used in the production of various drugs, including antibiotics, vitamins, and steroids. Furthermore, the construction industry is expected to show a steady growth rate in terms of CAGR over the forecast period, due to the increasing demand for chloromethane as they are widely used in the production of various construction materials such as silicone sealants, adhesives, and coatings. Moreover, advancements in construction technology and materials are leading to new and innovative uses for chloromethane, such as in the production of high-performance coatings and sealants that require specific properties such as adhesion, durability, and water resistance.
Based on the region, the chloromethane market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the chloromethane market in 2022. This is due to the presence of large manufacturing industries, particularly in China and India, as well as increasing demand from end-use industries such as construction, automotive, and pharmaceuticals. Furthermore, Europe is expected to witness significant growth over the forecast period. The growth of the chloromethane market in Europe is driven by several factors, including the presence of a well-established automotive industry, which uses chloromethane in the production of refrigerants and blowing agents, among other applications. Moreover, Europe is also home to a well-established pharmaceutical industry, which uses chloromethane as a solvent and intermediate in the production of various drugs.
Chloromethane Market Competitive Landscape:
The chloromethane market is highly competitive comprising numerous players operating in the industry. The players are focusing on strategic initiatives, such as mergers and acquisitions, partnerships, collaborations, new product launches, and capacity expansions to strengthen their market position and expand their global presence.
The following are the major key players operating in the chloromethane market:
- Asahi Glass Co. Ltd.
- Tokuyama Corp.
- Gujarat Alkalies and Chemicals Ltd.
- Shin-Etsu Chemical Co. Ltd.
- SRF Limited
- Merck KGaA
- TCI Chemicals
- LGC Limited
- In January 2023, Nouryon acquired the ADOB, a leading supplier of chelated micronutrients, foliars, and other specialty agricultural solutions. This acquisition provides Nouryon with an opportunity to broaden its product range and improve its service offerings to customers in this industry.
- In August 2022, Gujarat Alkalies and Chemicals Limited (GACL), a top chlor-alkali producer in India, has recently commissioned a new chloromethane plant capable of producing 105,000 tons per annum.
Table of Content
To check our Table of Contents, please mail us at: [email protected]
Research MethodologyThe Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.
Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.