Chloromethane Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[218+ Pages Report] According to the report published by Facts Factors, the global chloromethane market size was worth USD 4925.30 million in 2021 and is estimated to grow to USD 6562.74 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.90% over the forecast period. The report analyzes the chloromethane market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the chloromethane market.

Market Overview

Chloromethane is a toxic, colorless derivative of methane that is also very flammable and has a faintly pleasant smell. It is created through a chemical reaction between methanol and hydrogen chloride. Due to its toxicity and flammability, chloromethane was phased out of use as a refrigerant. This is frequently used in the synthesis of silicone and active pharmaceutical ingredients, as well as in other chemical processes. The growing demand for chemical industries would influence the chloromethanes market's expansion rate. The main factors propelling market expansion are the soaring demand for silicone elastomers in various end-use sectors, such as construction, elective, and automotive, as well as the soaring need for tire replacements from rising nations. The chloromethane market is also driven by expanding urbanization and silicone used in personal and medical applications.

COVID-19 Impact:

The COVID-19 pandemic has had a significant influence on many different industries. Many nations implemented lockdowns and strict government measures, including wearing masks, keeping a safe distance from others, banning travel, regularly using hand sanitizer, closing business and educational sectors, and many more. These variables entirely threw off the supply and demand chain, resulting in a fall in demand for chloromethane in various industries, including personal care, agriculture, chemicals, and others. Following the end of the lockdown, the demand for chloromethane surged quickly due to its advantages and use in various applications and is anticipated to stabilize in 2021.

Key Insights

• As per the analysis shared by our research analyst, the global chloromethane market value is expected to grow at a CAGR of 4.90% over the forecast period.
• In terms of revenue, the global chloromethane market size was valued at around USD 4925.30 million in 2021 and is projected to reach USD 6562.74 million by 2028.
• The main factors propelling market expansion are the soaring demand for silicone elastomers in various end-use sectors, including construction, electronics, and automotive, and rising nations' soaring need for tire replacements.
• By product, the methylene chloride category dominated the market in 2021.
• By application, the silicone polymers category dominated the market in 2021.
• The Asia Pacific dominated the chloromethane market in 2021.

Growth Drivers

• The rising demand for chloromethane as a chemical intermediate drives the market growth

The global chloromethane market is driven primarily by rising silicone usage in cosmetic and medicinal products during the projected period. Since silicone polymer is produced using chloromethane, end-use industries like the automobile, personal care, and electronics sectors have higher demand. The silicone is a perfect candidate for an intermediate due to its exceptional qualities, including flexibility, solubility inorganic solvents, and water repellency. In addition, rising sales of passenger automobiles and rising affordability are also anticipated to stimulate market expansion. The automobile industry's need for silicone polymers rises due to the lighter weight of vehicles.

Restraints

• Government regulations and health problems posed by chloromethane may hamper the market growth

Government laws that are too strict may result in health problems like confusion, drowsiness, and breathing problems related to the storage, use, and handling of chloromethane, as well as other environmental problems. These elements may hamper the market growth.

Segmentation Analysis

The global chloromethane market is segregated based on product, application, end-use, and region.

Based on product, the market is divided into methylene chloride, methyl chloride, carbon tetrachloride, chloroform, and others. Among these, the methylene chloride segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Methylene chloride is primarily employed in producing polyurethane foams, adhesives, and aerosols as an industrial solvent and chemical intermediary.

Based on the application, the market is divided into refrigerant, an industrial solvent, silicone polymers, laboratory chemicals, chemical intermediates, methylating & chlorinating agents, propellant & blowing agents, catalyst carriers, herbicides, local anesthetic, adhesives and sealants, and others. Among these, the silicone polymers segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Most of these polymers are employed in electronic products like keyboards, mobile parts, and copier rollers. Silicone is significantly used in manufacturing consumer goods, particularly kitchen and personal care items. Thus, one of the key industries driving the need for silicone polymers is the rapidly growing personal care and electronics industries.

Based on the end-use outlook, the market is divided into pharmaceuticals, agrochemicals, textile, automotive, construction, paints & coatings, personal care products, plastics & rubber, and others. Among these, the pharmaceuticals segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. A process intermediary in the creation of pharmaceuticals is chloromethane. In extracting several pharmaceutical chemicals and manufacturing antibiotics and vitamins, methylene chloride is primarily used as a re-crystallization and efficient reaction solvent.

Recent Development

• April 2019: Nouryon Company announced that it would begin work on a project to expand its chloromethane production facility in Frankfurt, Germany, to meet increased global customer demand for chloromethane.

Report Scope

Regional Landscape

• Asia-Pacific dominated the chloromethane market in 2021

The Asia Pacific dominated the global chloromethane market in 2021. The production of chloromethane is expected to be boosted by China's enormous shale gas deposits and wide-ranging feedstock availability. These factors have also greatly increased the region's chemical manufacturing. Major firms are now refocusing on high-opportunity economies, like China and India, where skilled labor and raw materials are more easily accessible at lower prices.

Competitive Landscape

• Asahi Glass Co. Ltd. 
• Tokuyama Corp. 
• AGC Chemicals Ltd. 
• Occidental Chemical Corp. 
• AkzoNobel N.V. 
• Shin-Etsu Chemical Co. Ltd. 
• Solvay S.A. 
• INEOS Group 
• Gujarat Alkalies 
• Chemicals Ltd.

Global Chloromethane Market is segmented as follows:

By Product

• Methylene chloride
• Methyl chloride
• Carbon tetrachloride
• Chloroform
• Others

By Application

• Refrigerant
• Industrial solvent
• Silicone polymers
• Laboratory chemicals
• Chemical intermediates
• Methylating & chlorinating agent
• Propellant & blowing agent
• Catalyst carrier
• Herbicide
• Local anesthetic
• Adhesives and sealants
• Others

By End-Use

• Pharmaceutical
• Agrochemicals
• Textile
• Automotive
• Construction
• Paints & coatings
• Personal care products
• Plastics & rubber
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America