The Indian Chloromethane Market would Leverage Demand from the Chemical & Pharmaceutical Industry and Grow Significantly during the Forecast Period 2022-2027

The Indian Chloromethane Market size is estimated to reach US$123 million by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027. The use of chloromethane in the chemical & pharmaceutical sector has increased significantly in India. Chloromethane, also known as methyl chloride and Refrigerant-40, is an organic compound. Increased demand for chloromethane in applications such as chemical intermediates, ubiquitous gas, chemical solvents, analytical processes and laboratory chemicals is expected to drive the Indian chloromethane market during the forecast period. According to Make in India, the chemical industry in India is expected to reach US$304 billion by 2025, with a 9.3% annual growth rate. 

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Indian Chloromethane Market: The Silicone Polymers Segment Leads the Market

On the basis of the application, the Indian Chloromethane market can be segmented into higher chlorinated methane, refrigerant, silicone polymers, chemical intermediate, cleaning solutions, coating, plastic & rubber, paint & coating and others. The silicone polymers segment has been evaluated as the leading segment of the Indian chloromethane market. During the forecast period 2022-2027, the silicone polymer segment is expected to grow at a CAGR of 6.7%. Silicone polymer has superior properties such as flexibility, solubility in organic solvents and water repellence, making it an excellent choice as an intermediate. Increasing silicone usage in personal care and medical applications are the major factors driving the Chloromethane Market during the forecast period. According to the International Trade Administration, Thailand's beauty and personal care goods market was valued at around US$6.2 billion in 2018 and is projected to grow to US$8.0 billion by 2022.

Indian Chloromethane Market: The Chemical & Pharmaceutical Industry Holds the Largest Market Share

On the basis of the end-use industry, the Indian Chloromethane market can be segmented into transportation, building & construction, textile industry, chemical & pharmaceutical, personal care & cosmetics, agriculture industry and others. The chemical & pharmaceutical segment has been evaluated as the leading segment in the Indian chloromethane market. During the forecast period 2022-2027, the chemical & pharmaceutical segment is expected to grow at a CAGR of 35%. Chloromethane is primarily used as a re-crystallization and effective reaction solvent in the extraction of numerous pharmaceutical compounds and the synthesis of antibiotics and vitamins. Increasing usage of chloromethane in chemical & pharmaceutical applications is the major factor driving the Indian chloromethane Market during the forecast period.

Indian Chloromethane Market: Competitive Landscape

Key companies holding major shares in the Indian Chloromethane market are Asahi Glass Co. Ltd., Tokuyama Corp., AGC Chemicals Ltd., Gujarat Alkalies and Chemicals Ltd., Occidental Chemical Corp., AkzoNobel N.V., Shin-Etsu Chemical Co. Ltd., Solvay S.A., INEOS Group and Nouryon.

R&D Investments

In July 2020, SRF invested Rs 315 crore in the construction of a new chloromethane plant. The new project would contribute to an increase of 100,000 tonnes per year capacity by 2022.

In April 2020, Nouryon started construction in May on a project to increase chloromethane capacity at its site in Frankfurt, Germany, to meet growing global customer demand.