Chloromethane Market Size was valued at USD 5.00 Billion in 2023. The Chloromethane industry is projected to grow from USD 5.21 Billion in 2024 to USD 6.90 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.58% during the forecast period (2024 - 2032). Growing refrigerant demand in the HVAC and automotive industries, as well as growing chloromethane demand in the pharmaceutical industry, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The market CAGR for chloromethane is predicted to expand due to increased demand for chloromethane in the pharmaceutical industry. Chloromethane is an important raw material in the manufacture of several medications, including antibiotics, anesthetics, and vitamins. The rising need for pharmaceuticals, particularly in emerging nations, is likely to propel the chloromethane market forward. The rising prevalence of chronic diseases such as cancer and diabetes is also predicted to increase demand for medications, which will drive demand for chloromethane.
Furthermore, the rising usage of chloromethane as a solvent in the production of agrochemicals such as herbicides and insecticides is predicted to raise chloromethane demand.
Another driver of the chloromethane market's expansion is the rising demand for silicone polymers in a variety of end-use sectors. Chloromethane is a significant raw element in the manufacture of silicone polymers such as silicone resins, silicone fluids, and silicone rubbers. The chloromethane market is predicted to develop due to rising demand for silicone polymers in industries such as construction, automotive, and electronics. Silicone polymers are utilized in the construction sector as sealants, adhesives, and coatings, and in the automobile industry as tires, gaskets, and hoses.
In addition, rising demand for electronic gadgets such as smartphones, laptops, and tablets is predicted to stimulate demand for silicone polymers, which would drive demand for chloromethane.
Moreover, the chloromethane market's expansion is increased demand for refrigerants in the HVAC (heating, ventilation, and air conditioning) and automotive industries. Chloromethane is a crucial raw ingredient in the manufacture of a variety of refrigerants, notably chlorodifluoromethane (HCFC-22) and hydrofluorocarbon (HFC-32). The rising need for refrigerants in the HVAC industry is being driven by rising demand for air conditioning systems, particularly in emerging nations such as China and India. Growing population, rising income levels, and increased urbanization are predicted to generate demand for air conditioning systems, which will drive demand for refrigerants and chloromethane.
Additionally, the growing need for refrigerants in the automotive industry is being driven by the growing demand for car air conditioning systems. The rising demand for automobiles, particularly in emerging nations, is predicted to increase demand for air conditioning systems, which will drive demand for refrigerants and chloromethane.
The Indian government, for example, introduced the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) project in 2019, with the goal of installing 25.75 GW of solar energy by 2022. The government intends to build solar-powered pumps and grid-connected pumps for farmers as part of this scheme, which will necessitate the installation of air conditioning equipment.
Similarly, in China, the burgeoning middle class, rising income levels, and increasing urbanization are driving demand for air conditioning systems. The Chinese government issued the "Three-Year Action Plan for Improving Air Quality" in 2019 in order to minimize air pollution in the country, which is predicted to increase demand for air conditioning equipment in the residential and commercial sectors.
The Chloromethane Market segmentation, based on type includes Methylene Chloride, Methyl Chloride, Carbon Tetrachloride, and Chloroform. In 2022, the methylene chloride category had the highest market share. Methylene chloride is primarily utilized as a solvent in industry and as a chemical intermediary in the manufacture of polyurethane foams, adhesives, and aerosols. However, because it is an extremely dangerous compound, the US EPA has banned its use in all paint removers for civilian use. Demand from the pharmaceutical, transportation, and food and beverage industries, on the other hand, will boost segment growth.
Figure1: Chloromethane Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Chloromethane Market segmentation, based on Application, includes Pharmaceuticals, Silicone Polymers, Agrochemicals, Chemical Intermediate, Personal-Care, Medical, and Others. The silicone polymers category is expected to lead the market. Chloromethane is often used in the production of silicone polymers, which are used in a variety of goods such as adhesives, coatings, and sealants. The silicone polymers market is expected to expand due to increased demand for silicone polymers across a variety of end-use sectors, including electronics, automotive, and construction. Furthermore, the growing trend toward ecologically friendly and sustainable products is expected to raise demand for chloromethane in the production of silicone polymers.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Chloromethane Market area will dominate this market, because of the increasing demand for chloromethane in the chemical and pharmaceutical industries. The region's concentration on R&D activities and the adoption of ecologically friendly technology have also aided the region's chloromethane market expansion. In addition, as a result of the region's efforts to reduce carbon emissions, new uses for chloromethane, such as the production of biofuels, have evolved.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: CHLOROMETHANE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Chloromethane Market accounts for the second-largest market share Because of the region's strict rules. Further, the German Chloromethane Market held the largest market share, and the UK Chloromethane Market was the fastest-growing market in the European region
The Asia-Pacific Chloromethane Market is expected to grow at the fastest CAGR from 2023 to 2032. The rise in demand for chloromethane in a variety of end-use sectors, including medicines, chemicals, and agrochemicals, is responsible for the market's expansion. Moreover, China’s Chloromethane Market held the largest market share, and the Indian Chloromethane Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Chloromethane Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the chloromethane industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Chloromethane industry to benefit clients and increase the market sector. In recent years, the Chloromethane industry has offered some of the most significant advantages to medicine. Major players in the Chloromethane Market, including The Dow Chemical Company (U.S), Asahi Glass Co. Ltd. (Japan), Gujarat Alkalies and Chemicals Ltd (India), Alfa Aesar (U.S), Akzonobel N.V.(Europe) and others, are attempting to increase market demand by investing in research and development operations.
Dow Chemical Company, officially Dow Inc., is an American multinational corporation based in Midland, Michigan. The firm is one of the world's top three chemical makers. It employs over 37,800 people worldwide and has a presence in approximately 160 countries. Dow has been dubbed the "chemical companies' chemical company" because its products are sold to other industries rather than directly to end users. Dow participates in the American Chemistry Council. In 2021, Dow Chemical Company established a strategic collaboration with Shell Catalysts & Technology to develop innovative technology and solutions to help reduce carbon emissions in the production of compounds like chloromethane.
Shin-Etsu Chemical Co., Ltd. is Japan's largest chemical corporation, ranking ninth in the Forbes 2000 for the chemical sector. Shin-Etsu dominates the polyvinyl chloride, semiconductor silicon, and photomask substrate markets. The name "Shin-Etsu" is derived from the Shin'etsu Region, where the firm founded the first chemical plant as Shin-Etsu Nitrogen Fertilizer in 1926, while the corporation is now based in Tokyo and has manufacturing facilities in 14 countries across the world. In 2019, Shin-Etsu Chemical Co., Ltd. introduced Shin-Etsu Pure Chemicals, a new line of high-purity chloromethane products. These items are utilized in the semiconductor sector and are intended to give high purity and consistency of quality.
July 2020, Solvay SA launched a new project to expand chloromethane production throughout Europe. The project aimed to boost Solvay's capacity to fulfill Europe's growing demand for chloromethane while also improving the European chloromethane market's overall competitiveness.
November 2019, The Composites business of Ashland Holdings Inc. has been acquired by Ineos Group Limited. The acquisition featured chloromethane production, which was expected to boost Ineos' position in the worldwide chloromethane market and provide its clients with a broader choice of products.
May 2019, Gujarat Alkalies and Chemicals Limited, based in Gujarat, India, announced the expansion of its chloromethane factory. The expansion was designed to boost the company's production capacity and competitiveness in the worldwide chloromethane market.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 5.00 Billion |
| Market Size 2024 | USD 5.21 Billion |
| Market Size 2032 | USD 6.90 Billion |
| Compound Annual Growth Rate (CAGR) | 3.58% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | The Dow Chemical Company (U.S), Asahi Glass Co. Ltd. (Japan), Gujarat Alkalies and Chemicals Ltd (India), Alfa Aesar (U.S), Akzonobel N.V.(Europe), Solvay SA (Europe), INEOS Group (Europe), Tokuyana Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Occidental Chemical Corporation (U.S.) |
| Key Market Opportunities | Drowsiness, confusion, and difficulty breathing are all symptoms of environmental difficulties. |
| Key Market Dynamics | Carbon tetrachloride is becoming more popular due to its usage in agrochemicals, medicines, blowing agents, and solvents, among other things. |
Chloromethane Market Highlights:
Frequently Asked Questions (FAQ) :
The global Chloromethane Market size was valued at USD 5.00 billion in 2023.
The global market is projected to grow at a CAGR of 3.58% during the forecast period, 2024-2032.
North America had the largest share of the global Chloromethane Market
The key players in the market are The Dow Chemical Company (U.S), Asahi Glass Co. Ltd. (Japan), Gujarat Alkalies and Chemicals Ltd (India), Alfa Aesar (U.S), Akzonobel N.V.(Europe).
The silicone polymers category dominated the market in 2023.
Methylene chloride had the largest share in the global Chloromethane Market.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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