Global Chloromethane Market

Global Chloromethane Market Size, Share, Growth Analysis, By Product(Methylene Chloride, Methyl Chloride), By Application(Refrigerant, Industrial Solvent) - Industry Forecast 2023-2030


Report ID: SQMIG15E2275 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 74 | Figures: 75

Global Chloromethane Market Insights

Global Chloromethane Market size was valued at USD 5.19 Billion in 2022 and is poised to grow from USD 5.44 Billion in 2023 to USD 7.98 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).

The purpose of the chloromethane market is to fulfill the demand for this chemical compound across various industries. Chloromethane is widely used as a raw material in the production of various chemicals, such as silicone polymers, methyl cellulose, and quaternary ammonium compounds. It is also utilized as a solvent in different applications, including pharmaceuticals, agrochemicals, and chemical synthesis. The market aims to ensure a steady supply of chloromethane to meet these diverse industrial requirements. The driving factors for the chloromethane market is its extensive use in the production of silicone polymers. The growing demand for silicone-based products in sectors such as automotive, construction, and electronics has significantly contributed to the market's growth.

The increasing demand for agrochemicals and pharmaceuticals, coupled with the development of new applications, provides a positive outlook for the market. Furthermore, the focus on sustainable manufacturing processes and the introduction of environmentally friendly alternatives present opportunities for innovation and market expansion. The global chloromethane market serves the purpose of meeting the demand for this chemical compound across various industries. While facing challenges related to environmental concerns and regulations, the market is driven by factors such as the demand for silicone polymers and foam manufacturing. Opportunities lie in the growing agrochemical and pharmaceutical sectors, as well as in the development of sustainable alternatives. Market insights and analysis play a crucial role in understanding the dynamics and trends of this market for informed decision-making.

US Chloromethane Market is poised to grow at sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 5.19 Billion

Largest Segment

Methylene Chloride

Fastest Growth

Methylene Chloride

Growth Rate

4.9% CAGR

Global Chloromethane Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Chloromethane Market By Product ($ Bn)
Global Chloromethane Market By Product (%)

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Global Chloromethane Market Segmental Analysis

The global chloromethane market is segmented on the basis of product, application, and region. Based on product, the market is segmented into Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, Chloroform, and Others. By Application, the market is segmented into Refrigerant, Industrial Solvent, Silicone Polymers, Laboratory Chemicals, Chemical Intermediates, Methylating & Chlorinating Agent, Propellant & Blowing Agent, Catalyst Carrier, Herbicide, Local Anesthetic, Adhesives and Sealants, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Chloromethane Market Analysis by Product

Methylene chloride, also known as dichloromethane, dominated the chloromethane market accounting for 65.8% of the market share. It is primarily used as an industrial solvent and as a chemical intermediate in the production of polyurethane foams, adhesives, and aerosols. However, due to its high toxicity, the U.S. EPA has banned its usage in all paint removers for consumer use. Despite this restriction, the demand for methylene chloride from industries such as pharmaceuticals, transportation, and food & beverages is expected to drive the growth of this segment.

The carbon tetrachloride segment is projected to register a Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2030. Carbon tetrachloride finds applications in various industries, including being a precursor to refrigerants, cleaning agents, and fire extinguishers. Its primary application, however, lies in the refrigerant industry. The increasing global temperature and rising disposable income in emerging economies are expected to boost the demand for refrigerants. Chloromethane-based refrigerants are widely used in air conditioners, chillers, and mobile air conditioning systems.

Chloromethane Market Analysis by Application

The refrigerant segment holds the largest share in the global chloromethane market. With the increasing global temperature and the need for effective cooling solutions, the demand for refrigerants is on the rise. Chloromethane-based refrigerants are widely used in air conditioners, chillers, and mobile air conditioning systems. The exceptional thermodynamic properties of chloromethane make it an ideal choice for efficient cooling and heat transfer. As a result, the refrigerant segment commands a significant portion of the market, ensuring a steady demand for chloromethane.

The silicone polymers segment emerges as the fastest growing segment in the chloromethane market. Silicone polymers find extensive applications in various industries, including automotive, construction, electronics, and healthcare. Chloromethane is a key ingredient in the production of silicone polymers, acting as a crucial building block. The exceptional properties of silicone polymers, such as high thermal stability, flexibility, and resistance to extreme environments, make them highly sought after in numerous applications. As industries continue to explore and adopt silicone-based solutions, the demand for chloromethane as a raw material for silicone polymers is expected to surge rapidly. This, in turn, propels the growth of the silicone polymers segment within the chloromethane market.

Global Chloromethane Market By Product, 2022 (%)

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Global Chloromethane Market Regional Insights

Asia Pacific emerges as the dominating region in the global chloromethane market. The region's strong presence is attributed to the significant industrial growth, rapid urbanization, and the presence of key manufacturing hubs. Countries like China, India, and Japan are major contributors to the market demand for chloromethane. The flourishing automotive, electronics, and construction industries in Asia Pacific drive the need for silicone polymers and other chloromethane-based products. Moreover, the rising disposable income and changing lifestyles in the region fuel the demand for refrigerants for air conditioning and cooling purposes. The dominance of Asia Pacific in the chloromethane market is further bolstered by favorable government initiatives and investments to support industrial growth and innovation.

North America showcases the fastest growth rate in the chloromethane market. The region benefits from a mature industrial sector and a strong focus on technological advancements. The United States, in particular, plays a significant role in driving the demand for chloromethane. While the usage of chloromethane as a consumer paint remover has been banned by the U.S. EPA, the demand remains strong in other applications such as refrigerants, industrial solvents, and chemical intermediates. The region's emphasis on sustainability and stringent environmental regulations also prompts the adoption of chloromethane alternatives and greener solutions, further stimulating market growth.

Global Chloromethane Market By Geography, 2024-2031
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Global Chloromethane Market Dynamics

Chloromethane Market Drivers

Growing Demand for Silicone Polymers

  • The demand for silicone polymers continued to rise in 2022, driving the chloromethane market. Silicone polymers are widely used in industries such as automotive, construction, and electronics. For instance, in the automotive sector, silicone polymers are used in the production of gaskets, seals, and electrical components. The increasing adoption of electric vehicles and the demand for advanced electronics contributed to the growth of silicone polymers, thereby boosting the demand for chloromethane as a key raw material.

Expansion of the Refrigeration Industry

  • The refrigeration industry experienced expansion in 2022, fueled by increasing global temperatures and changing lifestyles. The demand for efficient cooling solutions in residential, commercial, and industrial sectors led to the growth of refrigerants, wherein chloromethane-based refrigerants played a vital role. As countries continue to adopt stricter regulations to phase out harmful refrigerants, the demand for more environmentally friendly chloromethane-based alternatives increased, driving the market.

Chloromethane Market Restraints

Environmental Concerns and Regulations

  • Environmental concerns surrounding chloromethane, including its harmful effects on the ozone layer and human health, posed restraints to the market. Governments and regulatory bodies worldwide have imposed stringent regulations to limit the usage of chloromethane and encourage the adoption of safer alternatives. For instance, the U.S. EPA banned the use of chloromethane in consumer paint removers due to its high toxicity. Such regulations and growing awareness of environmental issues posed challenges to the chloromethane market.

Volatility in Raw Material Prices

  • The chloromethane market experienced volatility in raw material prices in 2022, which affected production costs and profitability. Fluctuations in the prices of raw materials such as methanol, a key ingredient in chloromethane production, impacted the overall cost structure of chloromethane manufacturers. Price volatility in raw materials can pose challenges for market players in terms of maintaining competitive pricing and profitability.

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Global Chloromethane Market Competitive Landscape

The global chloromethane market features a competitive landscape with the presence of several key players striving to capture a significant market share. These companies are engaged in various strategies such as mergers and acquisitions, partnerships, product innovations, and geographical expansions to gain a competitive edge in the market. Strategic collaborations and partnerships are also common in the chloromethane market. Companies are partnering with research institutes and universities to leverage their expertise in developing new applications and exploring sustainable alternatives. Joint ventures and acquisitions are pursued to expand market reach and gain access to new geographical regions. The competitive landscape is influenced by factors such as stringent environmental regulations, changing customer preferences, and the need for sustainable solutions. Market players are aligning their strategies with these factors to stay competitive and meet evolving market demands. For instance, companies are investing in the development of eco-friendly alternatives to chloromethane and adopting sustainable manufacturing practices to comply with regulations and address environmental concerns.

Chloromethane Market Top Player’s Company Profiles

  • Occidental Petroleum Corporation (US)
  • Tokuyama Corporation (Japan)
  • Shin-Etsu Chemical Co., Ltd. (Japan)
  • Gujarat Alkalies and Chemicals Limited (India)
  • Kem One (France)
  • SRF Limited (India)
  • Akzo Nobel N.V. (Netherlands)
  • Ercros S.A. (Spain)
  • Gujarat Fluorochemicals Limited (India)
  • AGC Inc. (Japan)
  • Kanto Denka Kogyo Co., Ltd. (Japan)
  • Occidental Chemical Corporation (US)
  • Solvay S.A. (Belgium)
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited (India)
  • Chemours Company (US)
  • Tosoh Corporation (Japan)
  • PPG Industries, Inc. (US)

Chloromethane Market Recent Developments

  • Global leader in specialty chemicals, Nouryon, revealed in January 2023 that it had acquired a Polish supplier that specialized in foliar, chelated micronutrients, and other unique agricultural solutions. With this calculated move, the business will be able to better serve consumers in the agriculture sector by diversifying its product line and delivering more services.

  • Gujarat Alkalies & Chemicals completed a number of new projects in October 2022 to increase their capacity for generating chloromethane. In Dahej, Gujarat, India, the business put into service a 105,000 TPA chloromethane facility.

  • AGC Inc., a well-known global producer of chemicals and glass, effectively expanded the capacity of its chlor-alkali business in the Indochina Peninsula in May 2022. AGC wants to increase the yearly manufacturing capacity of vinyl chloride monomer, PVC, and caustic soda by investing USD 0.76 billion.

Global Chloromethane Key Market Trends

  • Shift Towards Sustainable Alternatives: One key trend observed in the chloromethane market was the industry's focus on sustainable alternatives. Market players and manufacturers increasingly explored greener alternatives to chloromethane, such as hydrofluoroolefins (HFOs) and hydrofluorocarbons (HFCs). These alternatives have lower global warming potential (GWP) and reduced impact on the ozone layer, aligning with environmental regulations and sustainability goals.
  • Technological Advancements and Process Innovations: Another important trend in the chloromethane market was the emphasis on technological advancements and process innovations. Manufacturers invested in research and development to enhance production processes, improve efficiency, and reduce environmental impacts. For example, advancements in catalytic processes and new reactor designs were explored to enhance chloromethane production methods and minimize energy consumption.

Global Chloromethane Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global chloromethane market analysis, the demand for efficient cooling solutions, the growth of industries like automotive and electronics, and the need for sustainable alternatives are the key growth drivers. However, environmental concerns and regulations pose challenges to the market, urging manufacturers to explore greener alternatives and comply with stricter norms. The market also witnesses volatility in raw material prices, impacting production costs and profitability. Key trends include the shift towards sustainable alternatives and technological advancements to enhance production processes. The market is competitive, with major players engaging in strategic initiatives like partnerships, mergers, and product innovations to gain a competitive edge. Overall, the global chloromethane market analysis highlights the dynamic nature of the industry, with a focus on sustainable practices and meeting evolving market demands.

Report Metric Details
Market size value in 2022 USD 5.19 Billion
Market size value in 2031 USD 7.98 Billion
Growth Rate 4.9%
Base year 2022
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, Chloroform, and Others
  • Application
    • Refrigerant, Industrial Solvent, Silicone Polymers, Laboratory Chemicals, Chemical Intermediates, Methylating & Chlorinating Agent, Propellant & Blowing Agent, Catalyst Carrier, Herbicide, Local Anesthetic, Adhesives and Sealants, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Occidental Petroleum Corporation (US)
  • Tokuyama Corporation (Japan)
  • Shin-Etsu Chemical Co., Ltd. (Japan)
  • Gujarat Alkalies and Chemicals Limited (India)
  • Kem One (France)
  • SRF Limited (India)
  • Akzo Nobel N.V. (Netherlands)
  • Ercros S.A. (Spain)
  • Gujarat Fluorochemicals Limited (India)
  • AGC Inc. (Japan)
  • Kanto Denka Kogyo Co., Ltd. (Japan)
  • Occidental Chemical Corporation (US)
  • Solvay S.A. (Belgium)
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited (India)
  • Chemours Company (US)
  • Tosoh Corporation (Japan)
  • PPG Industries, Inc. (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Chloromethane Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Chloromethane Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Chloromethane Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chloromethane Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Chloromethane Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Chloromethane Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Chloromethane Market size was valued at USD 5.19 Billion in 2022 and is poised to grow from USD 5.44 Billion in 2023 to USD 7.98 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).

The global chloromethane market features a competitive landscape with the presence of several key players striving to capture a significant market share. These companies are engaged in various strategies such as mergers and acquisitions, partnerships, product innovations, and geographical expansions to gain a competitive edge in the market. Strategic collaborations and partnerships are also common in the chloromethane market. Companies are partnering with research institutes and universities to leverage their expertise in developing new applications and exploring sustainable alternatives. Joint ventures and acquisitions are pursued to expand market reach and gain access to new geographical regions. The competitive landscape is influenced by factors such as stringent environmental regulations, changing customer preferences, and the need for sustainable solutions. Market players are aligning their strategies with these factors to stay competitive and meet evolving market demands. For instance, companies are investing in the development of eco-friendly alternatives to chloromethane and adopting sustainable manufacturing practices to comply with regulations and address environmental concerns. 'INEOS Group Holdings (UK)', 'Dow Chemical Company (US)', 'Occidental Petroleum Corporation (US)', 'Asahi Glass Co. Ltd. (Japan)', 'Tokuyama Corporation (Japan)', 'Shin-Etsu Chemical Co., Ltd. (Japan)', 'Gujarat Alkalies and Chemicals Limited (India)', 'Kem One (France)', 'SRF Limited (India)', 'Akzo Nobel N.V. (Netherlands)', 'Ercros S.A. (Spain)', 'Gujarat Fluorochemicals Limited (India)', 'AGC Inc. (Japan)', 'Kanto Denka Kogyo Co., Ltd. (Japan)', 'Occidental Chemical Corporation (US)', 'Solvay S.A. (Belgium)', 'Gujarat Narmada Valley Fertilizers & Chemicals Limited (India)', 'Chemours Company (US)', 'Tosoh Corporation (Japan)', 'PPG Industries, Inc. (US)'

The demand for silicone polymers continued to rise in 2022, driving the chloromethane market. Silicone polymers are widely used in industries such as automotive, construction, and electronics. For instance, in the automotive sector, silicone polymers are used in the production of gaskets, seals, and electrical components. The increasing adoption of electric vehicles and the demand for advanced electronics contributed to the growth of silicone polymers, thereby boosting the demand for chloromethane as a key raw material.

Shift Towards Sustainable Alternatives: One key trend observed in the chloromethane market was the industry's focus on sustainable alternatives. Market players and manufacturers increasingly explored greener alternatives to chloromethane, such as hydrofluoroolefins (HFOs) and hydrofluorocarbons (HFCs). These alternatives have lower global warming potential (GWP) and reduced impact on the ozone layer, aligning with environmental regulations and sustainability goals.

Asia Pacific emerges as the dominating region in the global chloromethane market. The region's strong presence is attributed to the significant industrial growth, rapid urbanization, and the presence of key manufacturing hubs. Countries like China, India, and Japan are major contributors to the market demand for chloromethane. The flourishing automotive, electronics, and construction industries in Asia Pacific drive the need for silicone polymers and other chloromethane-based products. Moreover, the rising disposable income and changing lifestyles in the region fuel the demand for refrigerants for air conditioning and cooling purposes. The dominance of Asia Pacific in the chloromethane market is further bolstered by favorable government initiatives and investments to support industrial growth and innovation.

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Global Chloromethane Market

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