Chloromethane Market forecast to grow at a CAGR of 5.2% in 2032

Chloromethane Market forecasted to registering 5.2% CAGR during the forecast period (2022-2032) and projected to reach US$ 8.8 Billion by 2032. Growth of the electronics and automotives market is expected to be one of the primary factors driving the silicones market which in turn is expected to augment the demand for chloromethane over the next few years. In addition, rapid industrialization is expected to fuel the demand for derivatives of chloromethane such as chloroform, methylene chloride and carbon tetrachloride.

Chloromethane, which is also known as methyl chloride, is a group of organic compounds. It is a toxic, colorless chemical compound which has a mildly sweet odor and is highly flammable. Chloromethane is naturally produced by the effect of sunlight on biomass and chlorine present in sea foam. Commercially, chloromethane is manufactured by the chemical reaction between hydrogen chloride and methanol. Traditionally, chloromethane was widely used as a refrigerant. However, owing to its high toxicity levels, the use of this chemical has been banned in consumer products. Presently, it is used as a chemical intermediate to manufacture derivative products such as chloroform, methylene chloride and carbon tetrachloride. In addition, it is used in the manufacture of silicone.

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Some of the key participants present in the global chloromethane market include AkzoNobel N.V., Asahi Glass Co. Ltd., Dow Chemical Company, Gujarat Alkalies & Chemicals Ltd., Ineos, Solvay S.A., Shin-Etsu Chemical Co. Ltd., Solvay and Tokuyama Corporation among others.

The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size & Forecast 2015 -2025
• Supply & Demand Value Chain
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain
• Market Drivers and Restraints

However, the high toxicity levels of this chemical is expected to hamper the growth of the market as there are stringent regulations present regarding the storage, handling, usage and wastage. Rising demand for chloromethane in BRICS is expected to open opportunities for the growth of the market in the near future.

Asia Pacific was the largest market for chloromethane and the trend is expected to continue into the forecast period owing to rapid industrialization in this region. Growing demand for electronics and automotives are indirectly expected to augment the chloromethane market. In addition, developing economies of South America and Africa are expected to show significant growth in demand for this chemical over the next few years.

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.

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