Worldwide sales of methyl chloride are calculated to increase from US$ 2.53 billion in 2024 to US$ 4.13 billion by the end of 2034. The global
Worldwide sales of methyl chloride are calculated to increase from US$ 2.53 billion in 2024 to US$ 4.13 billion by the end of 2034. The global methyl chloride market is projected to expand at a CAGR of 5% from 2024 to 2034. Rising popularity of methyl chloride as a refrigerant and propellant in aerosol products is positively influencing market growth.
As a versatile chemical compound, methyl chloride finds extensive use in the production of silicone polymers and quaternary ammonium compounds, and as a methylating agent in organic synthesis. Its utilization in the pharmaceutical industry for the synthesis of various drugs and intermediates has further fueled its demand. With increasing environmental concerns and stringent regulations on ozone-depleting substances, methyl chloride has emerged as a viable alternative due to its relatively low global warming potential and ozone depletion potential.
The market for methyl chloride is also being influenced by the growth of the construction, automotive, and electronics sectors. The construction sector's demand for silicone-based products and the automotive sector’s reliance on methyl chloride for various applications have played crucial roles in driving market growth. The regulated utilization of methyl chloride in the electronics sector as a cleaning agent is contributing to market expansion.
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Key Takeaways from the Market Study:
Sales of methyl chloride are projected to reach US$ 4.13 billion by 2034. The North America market is forecasted to expand at 4.8% CAGR from 2024 to 2034.
East Asia is calculated to occupy 25.1% of the global market share by 2034-end. The methyl chloride market in China is evaluated to expand at 6% CAGR from 2024 to 2034.
Sales of intermediates are forecasted to reach US$ 1.19 billion by 2034-end. The market in Canada is projected to expand at 4.5% CAGR through 2034.
“Increasing usage of methyl chloride in the pharmaceutical sector for the synthesis of various drugs is contributing to market growth. As industrialization accelerates, demand rises for versatile compounds like methyl chloride, utilized in a wide range of applications”, says a Fact.MR analyst.
Methyl Chloride Industry News:
Dow Chemical Company will introduce a new solvent methylene chloride, DOWCLENE 1190, to the Indian market in 2021. It is utilized as a process solvent in a wide range of sectors, including agrochemicals, coatings, cleaning, and automotive. Dow Chemical Company's new product introductions have expanded its product portfolio and increased its market presence in India.
Country-wise Insights
"Well-Developed Infrastructure for Chemical Manufacturing"
The resurgence of domestic production in several industries in the United States, including automotive, construction, and pharmaceuticals, has spurred increased demand for methyl chloride and its derivatives. This demand is bolstered by the country's robust economic growth and good business environment.
The United States has a well-developed chemical manufacturing infrastructure, allowing methyl chloride providers access to advanced production facilities, sophisticated logistics networks, and a qualified workforce. This powerful industrial ecosystem creates an optimal environment for efficient operations and seamless delivery.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the methyl chloride market for 2019 to 2023 and forecasts market statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (intermediates, refrigerants, solvents) and application (silicone production; butyl rubber production; CM, HPCM, HBCM production; building material production; quaternary ammonium compound production), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
Key Companies Profiled:
Airgas
Balchem
Nouryon
Praxair
Meghmani Finechem
Gujrat Alkalies and Chemicals
Gelest
SRF
Industry News:
In 2021, Dow Chemical Company launched a new solvent methylene chloride under the brand name DOWCLENE 1190 in the Indian market. It is used as a process solvent in many end-use industries such as agrochemicals, coatings, cleaning, and automotive. Through these new product launches, Dow Chemical Company has strengthened its product portfolio and enhanced its market presence in the Indian Market.
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Methyl chloride is a chemical compound used as a refrigerant, propellant, and in the production of various chemicals, including silicone polymers and pharmaceuticals.
CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period, assuming the investment grows at a steady rate.
Quaternary ammonium compounds are a class of chemicals used as disinfectants, surfactants, and fabric softeners, known for their antimicrobial properties.
A refrigerant is a substance used in a heat pump or refrigeration cycle to absorb and release heat, facilitating cooling in various applications.
Organic synthesis is the process of constructing organic compounds through chemical reactions, often used in pharmaceuticals and chemical manufacturing.
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