October 06, 2022 12:21 ET | Source: Facts & Factors Facts & Factors
TOKYO, JAPAN, Oct. 06, 2022 (GLOBE NEWSWIRE) -- According Facts and Factors has published a new research report titled “Chloromethane Market Size, Share, Growth Analysis Report 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), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
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.
“According to the latest research study, the global Chloromethane Market size & share in terms of revenue was valued at USD 4925.30 million in 2021 and it is expected to surpass around USD 6562.74 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 4.90% during the forecast period 2022 to 2028.”
Chloromethane is a chemical substance that belongs to the haloalkanes class of natural compounds. It is a toxic gas that is very flammable and has a sweet odor. Although there is enough chloromethane in nature, it can also be synthesized. Chloromethane is generally produced by the activity of sunlight on biomass and chlorine present in the ocean structure. Chloromethane was initially used as a refrigerant. Because of its toxicity, chloromethane should not be used for personal use. Products containing chloromethanes include methylene chloride, methyl chloride, carbon tetrachloride, and chloroform.
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Global Chloromethane Market: Growth Factors
The increased demand for chemical industries will impact the global chloromethanes market's expansion rate. The primary factors driving market expansion are the rising demand for silicone elastomers in different end-use industries such as construction, electronics, & automotive and the rising demand for tire replacements from emerging economies. Factors such as expanding urbanization and the increased usage of silicone in personal & medical applications are also driving the chloromethanes market.
Furthermore, increased passenger vehicle sales and rising affordability will boost the chloromethanes market's growth rate. Furthermore, the increased demand for silicone polymers in the automotive industry due to lightweight vehicles would be a major driver affecting the growth of the chloromethanes market.
Additionally, a growing emphasis on R&D activities aimed at creating innovative processes for producing chloromethanes would generate favorable prospects for the growth of the chloromethanes market. Furthermore, rising consumer demand for perishable foods, technological advancements, and international trade in fresh food goods would present an attractive potential for market expansion.
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The global chloromethane market is segregated based on product, application, end-user, 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.
Based on the application, the market is divided into refrigerants, industrial solvent, silicone polymers, laboratory chemicals, chemical intermediates, methylating& chlorinating agents, propellants & blowing agents, catalyst carriers, herbicides, local anesthetic, adhesives & 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.
Based on the end-user, 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.
The global Chloromethane market is segmented as follows:
Browse the full “Chloromethane Market Size, Share, Growth Analysis Report 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), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/chloromethane-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Chloromethane market include -
Key Insights from Primary Research:
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The global chloromethane market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. In 2021, the Asia Pacific region led the chloromethane market. It is expected to be the largest regional market over the projection period. China's massive shale gas resources and wide-ranging feedstock availability are projected to increase the product's production. These factors have also significantly increased the region's chemical manufacturing.
Major corporations now focus on high-opportunity economies such as China and India, where trained labor and raw resources are more easily accessible at lower prices. As a result, these factors likely boost market expansion in the Asia-Pacific region.
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