Global Methylene Chloride market, which is likely to amass revenue worth nearly 2,924.90 (USD Million) by 2026, will register a CAGR of nearly 5.6% during the period from 2020 to 2026.
The global Methylene Chloride market, which is likely to amass revenue worth nearly 2,924.90 (USD Million) by 2026, will register a CAGR of nearly 5.6% during the period from 2020 to 2026. The report offers assessment and analysis of the Methylene Chloride market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Methyl Chloride is a solvent used in myriad industries and finds lucrative uses in degreasing agents as well as commercial paint strippers. The compound is abundantly available halocarbon in stratosphere. It is colorless, faint, and clear gas having sweet odor. Furthermore, methyl chloride, which is also referred as chloromethane, plays a role as refrigerant, marine metabolite, and mutagen. Moreover, it is heavy as compared to air and extremely combustible.
Furthermore, the compound is the member of methyl halides & chloromethane group and finds a spectrum of applications as local anesthetic and chemical intermediate in the manufacturing of silicone polymer. In addition to this, it is used as a solvent in petroleum refining & butyl rubber as well as propellant in production of polyester foam. Apart from this, it finds lucrative usage herbicide and chlorinating agent in experiments of organic chemistry study.
Market Growth Dynamics
Escalating use of the compound in cleaning applications as well as its usage as solvent in adhesives & paints will drive the market expansion over the forecast timeframe. In addition to this, huge sale of vehicles in the emerging countries has led to massive requirement of adhesives & paints, thereby driving the demand for methylene chloride in the recent years.
Furthermore, quick drying property, high dissolving ability, and low flammability will steer the product penetration in the myriad industries across the globe. Surge in the construction activities like bridge constructions and building constructions will fuel the market demand over the forecast period.
Asia Pacific Market To Acquire Numero Uno Position During the Forecast Timespan
The market expansion in the Asia Pacific zone during the forecast timeline is owing to humongous presence of pharma firms as well as foam manufacturing & chemical processing sectors in the countries like India, China, and Southeast Asian countries. Apart from this, large number of shale gas reservoirs & plentiful feedstock available in China and easy accessibility of raw materials along with easy availability of work-force at reduced wages will enlarge the market size in the region during the estimated timespan.
Key players profiled in the report include Olin Corporation, Eastman Chemical Company, Occidental Petroleum Corporation, Akzo Nobel N.V, LOTTE Fine Chemical, KEM ONE, Asahi Glass Co. Ltd., INEOS Group Holding S.A, Shin-Etsu Chemical Co. Ltd., and PJSC Khimprom.
The global methylene chloride market is segmented as follows:
Escalating use of the compound in cleaning applications as well as its usage as solvent in adhesives & paints will drive the market expansion by 2026.
The CAGR of the industry is expected to be nearly 5.6% during the forecast timeline.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Eastman Chemical Company, Akzo Nobel N.V, KEM ONE, Asahi Glass Co. Ltd., INEOS Group Holding S.A, Olin Corporation, Shin-Etsu Chemical Co. Ltd., Occidental Petroleum Corporation, LOTTE Fine Chemical, and PJSC Khimprom.
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