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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Chloromethane Market Outlook
The global chloromethane market is expected to grow at a CAGR of 4% in the forecast period of 2024-2032.
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Rising Demand from the Silicone Industry to Aid the Market Growth of Chloromethane
The market for chloromethane is being driven by the rising demand from the silicone industry. Further, the silicone industry is one of the fastest growing application segments, which is expected to witness a rising demand over the forecast period as well. This can be attributed to the growing demand from the personal care and medical industries. The market is further influenced by the rising living standards, an ever-expanding middle class, and growing household incomes in the Asia Pacific region, as well as rest of the world, as they contribute to the rising demand for high-quality products containing silicone. Within the Asia Pacific, China is the most attractive market for the key players. It also offers great potential for substantial growth in certain end-user industries like pharmaceuticals and automotives.
Chloromethane: Market Segmentation
Chloromethane, variously known as methyl chloride, HCC-40 or R-40 is a part of a group of organic compounds called haloalkanes. It is produced by boiling a mixture of sulphuric acid, sodium chloride, and methanol. It is largely used in the production of butyl rubber, silicone polymers, and in petroleum refining.
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On the basis of product, the market is divided into:
- Methylene Chloride
- Methyl Chloride
- Chloroform
- Carbon Tetrachloride
- Others
Based on application, the industry can be segmented into:
- Refrigerant
- Industrial Solvent
- Silicone Polymers
- Chemical Intermediates
- Methylating and Chlorinating Agents
- Propellant and Blowing Agents
- Catalyst Carrier
- Herbicide
- Local Anaesthetic
- Adhesives and Sealants
- Others
By end use, the industry is categorised into:
- Pharmaceutical
- Agriculture
- Textiles
- Automotive
- Construction
- Paints and Coatings
- Personal Care Products
- Plastics and Rubber
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Extensive Application of Chloromethane to Aid the Global Market Growth
The market for chloromethane is being driven by the rising demand from the silicone industry in several applications like automotive, medical, transportation, and personal care. Silicone demonstrates strong performance, which has led to its application across several industries, thereby, contributing significantly towards the market growth of chloromethane. However, the market is expected to slow down as a result of rising health concerns over the hazardous use of chloromethane due to its toxicity and flammability.
Key Industry Players in the Global Chloromethane Market
The report gives a detailed analysis of the following key players in the global chloromethane market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- AGC Inc.
- Akzonobel N.V.
- Shin-Etsu Chemical Co. Ltd
- Gujarat Alkalies and Chemical Limited
- Nouryon
- Tokyo Chemical Industry Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global chloromethane market is projected to grow at a CAGR of 4% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, enhancing living standards, rising middle class, and growing demand from the silicone industry, are expected to aid the market growth.
The key trend guiding the growth of the market includes the rising demand from the personal care and medical industries.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of chloromethane in the market are methylene chloride, methyl chloride, chloroform, and carbon tetrachloride, among others.
The leading application segments in the industry are refrigerant, industrial solvent, silicone polymers, chemical intermediates, methylating and chlorinating agents, propellant and blowing agents, catalyst carrier, herbicide, local anaesthetic, and adhesives and sealants, among others.
The significant end use sectors in the market are pharmaceutical, agriculture, textiles, automotive, construction, paints and coatings, personal care products, and plastics and rubber, among others.
The major players in the industry are AGC Inc., Akzonobel N.V., Shin-Etsu Chemical Co. Ltd, Gujarat Alkalies and Chemical Limited, Nouryon, and Tokyo Chemical Industry Co., Ltd., among others.
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