Chloromethane Market Overview:
According to a report published by IndustryARC on Chloroform, the total exports that took place in 2017 amounted to $9,171,294,000. Used as a local anesthetic as well as in the heating, ventilation, and air conditioning industry, chloroform has found an important place in pharmaceutical and refrigerant industries worldwide. Chloroform is just a type of chloromethane which is reflective of the high demand faced by the latter’s market. The chloromethane market has a wide end-user industry including pharmaceutical, refrigeration, textile, paints and coatings, automotive, construction, personal care, and others. Chloromethane, though with its limited usage in the refrigeration industry these days will continue to experience growth for its varied industrial utilization. In the year 2018, the global chloromethane market size stood at $2,115 million and the market demand will grow with a healthy compound annual growth rate (CAGR) of 3.90% during the forecast period of 2019-2025.
Chloromethane Market Outlook:
Chloromethane is also known as methyl chloride or Refrigerant-40 and has been widely used in refrigeration technology since its industrial manufacture. It belongs to a family of organic compounds called haloalkanes and has a mildly sweet odor. It is highly flammable, which is why it is carefully used in industries. It has a number of applications including being used as a refrigerant, industrial solvent, silicone polymers, laboratory chemicals, chlorinating agent, propellant, herbicide, local anesthetic, sealants, adhesives, and others. In the current scenario, chloromethane is being widely used as in the pharmaceutical industry which has made it as the chemical’s most important end user. This application segment is expected to grow with a noticeable CAGR of 5.66% during the forecast period of 2019-2025. Since China is a global superpower in the manufacturing sector, it has made APAC the geographical leader of the chloromethane market. In the year 2018, APAC held a massive regional share of 42%.
Chloromethane Market Growth Drivers:
Chloromethane market growth is driven by its wide end-user industry requirement. With a rise in global industrial output, an increasing number of industries are using chloromethane in several products that have an exponentially rising demand from all sectors of the world. AkzoNobel, one of the world’s most renowned chemicals company have used chloromethane in the production of products that are used by the general public every day. They export chloromethane as a raw product to construction, water treatment, cookware, automotive, and electronics industry throughout the world. In the water treatment industry, chloromethane is widely used to effectively clean water contaminated with industrial waste. Pharmaceutical industry has also solicited the use of chloromethane and is now using it extensively for the production of chloroform, an important chemical compound. These factors are helping in generating a high market demand for the chloromethane market and will define its growth in the upcoming years.
Chloromethane Market Challenges:
A difficult challenge faced by the global chloromethane market is its limited usage as a refrigerant in the current scenario. Key market players are trying to combat this challenge by steadily introducing chloromethane in other industrial uses such as anesthesia and silicone polymerization.
Chloromethane Market Key Players Perspective:
Key market players operating in the global chloromethane market are Asahi Glass Co. Ltd., AkzoNobel N.V., Gujarat Alkalies and Chemicals Ltd., The Dow Chemical Company, Solvay S.A.,INEOS Group, Solvay and Tokuyama Corporation, Shin-Etsu Chemical Co. Ltd., Ercros S.A., Alfa Aesar, Occidental Chemical Corporation, Kem One and SRF Ltd.
In 2008, the European subsidiary of The Dow Chemical Company and India’s Gujarat Alkalies and Chemicals signed a memorandum of understanding to commission a 200,000 metric ton per year producing chloromethane plant in Dahej, Gujarat, India.
Chloromethane Market Trends:
Ø Used As A Local Anesthetic
Anesthesia is an important component of any surgery as it prevents patients from feeling any pain. It is of several kinds mainly general, regional, and local. Local anesthetics numb a particular part of the body, thus allowing the patient to be awake during a surgery without feeling the pain. Local anesthetics are often used in small surgeries such as of a tooth and ease the process so that the patients to go home on that particular day. Scientists have employed several chemicals as local anesthetics to treat patients, primary one being chloromethane. The use of chloromethane in anesthesia has disrupted its market and will define its direction in the upcoming few years.
Chloromethane Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Chloromethane Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the Chloromethane Market, and their specific applications in different areas.
Chloromethane Market Report: Industry Coverage
The chloromethane market can be segmented on the basis of type, application, and end-user industry. On the basis of type, the market can be segmented into methyl chloride, methylene chloride, choloroform, and carbon tetrachloride. Based on application, the market can be fragmented into refrigerant. Industrial solvent, silicone polymers, laboratory chemicals, chemical intermediates, methylating and chlorinating agent, propellant and blowing agent, catalyst carrier, herbicide, local anesthetic, adhesives, and sealants. And on the basis of end user industry, the market can be divided into pharmaceutical, agrochemicals, textile, automotive, construction, paints and coatings, personal care products, plastics, and rubber.
The Chloromethane Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia