ALBANY, New York, Feb. 12, 2020 /PRNewswire/ -- Wide array of industrial applications of chloromethane underlies the growing sales of this versatile chemical. The buoyancy stems from the rapid pace of demands in the production of construction materials and agriculture products, notes a new study by Transparency Market Research (TMR). The chloromethane market is projected to clocking a CAGR of 4% CAGR from 2019 to 2027 and reach US$ 3 bn—vis-à-vis value--by the end of this period. A major share of revenues is contributed by methyl chloride—which is expected to reach around US$2.4 bn by 2027.
"Manufacturers are harnessing advanced chemistries, notably in hydrolysis and polymerization, for purification of silane intermediaries from the mixture of different reaction products, and unveil high-performing chemicals to meet various industrial applications. Specialty chemicals companies are unlocking a steady business proposition on increasing the availability of the chemical for its application in industrial decaffeination of coffee," opine the analysts in TMR.
Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=52272
Key Findings of the Market Study
- Methyl chloride leads the product segments in the chloromethane market. By 2027, it is anticipated to contribute US$2.4 bn
- Of all end-use applications, sizable revenues during the assessment period are expected to come increasingly from the demands in construction, pharmaceutical, and agriculture industries.
- Demands are likely to prosper in various water treatment applications where methyl chloride is an intermediate chemical. The scope is noticeable in Asia Pacific market.
- Silicone manufacturing currently accounts for the major share of production volumes in the chloromethane market. The projected output by 2027-end is approximately 3,151,000 tons.
Explore 180 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Chloromethane Market by Product: Methyl Chloride, Methylene Chloride, Chloroform [Trichloromethane], and Carbon Tetrachloride; and Application: Silicone Manufacturing, Medical & Pharmaceuticals, Foam Blowing, Chemical Intermediates & Catalysts, Agrochemicals, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027 at https://www.transparencymarketresearch.com/chloromethane-market.html
Chloromethane Market: Key Driving Factors
According to the study, the growing use of chloromethanes in wide spectrum of commercial and industrial applications is driving sales in the market. Large investments in water treatment plants by several industries of the world has reinforced the uptake of methyl chloride in a bevy of applications. Growing role of chloromethanes in decaffeination process has stirred production of these chemicals. Extensive demand for the production of silicones and pharmaceuticals is boosting revenue potential of the market. Silicones are being used increasingly in biomedical applications.
New entrants will be focusing on tapping into the rising revenue streams in applications of silicones. Growing utilization of chloromethanes in healthcare applications will help cement the growth potential of the market in the next few years.
Key Challenges for Market Players
Ensuring a steady supply chain for key application areas is a veritable challenge expected to mar the revenue potential in the chloromethane market. A case in point is meeting the rise in demands among pharmaceutical companies. Obtaining the supply of high-purity raw material is a challenge. Most notably, obtaining good quality elemental silicon has been a restraining factor. The rapid pace of demands for different types of the chemical has nudged top players to upgrade their equipment, strengthen their engineering capabilities, and seek new production machineries. The lack of capital can be a notable constraint for them.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/52272
Chloromethane Market: Region-wise Analysis
Of all the regions, Asia Pacific is expected to hold vast revenue potential for stakeholders in the chloromethane market in coming years. In 2018, it held the leading share and is expected to clock CAGR of 4.5% from 2019 to 2027. A major part of the revenue has indisputably come from China. The country is also the one the major markets and also a prominent consumer, globally. Players in the China market have lend substantial impetus to its expansion by expanding their geographical footprints, in addition to other consolidation strategies.
Analyze chloromethane market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, and Russia. Request a sample of the study.
Players looking for sizable stakes in the chloromethane market are setting their sights on meeting the industrial demands for specialty chemicals. Several of them have recently started focusing on the agrochemical markets. Numerous manufacturers are actively focused on adopting new production technologies to come out with products with advances chemistries. Several players of specialty chemicals are consolidating their chloromethanes capacity, particular to meet the demands for intermediate chemicals in agrochemicals, pharmaceuticals, silicone polymers, and refrigerants.
The presence of several regional and local players is rendering a high degree of fragmentation in the chloromethane market. Some of the well-entrenched names are Shin-Etsu, KEM ONE, Occidental Petroleum Corporation, Nouryon, The Sanmar Group, AGC Chemicals, and Dow Chemical Company.
The global chloromethane market is segmented on the basis of:
- Methyl Chloride
- Methylene Chloride
- Chloroform (Trichloromethane)
- Carbon Tetrachloride
- Silicone Manufacturing
- Medical & Pharmaceuticals
- Foam Blowing
- Chemical Intermediates & Catalysts
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,
Microalgae-based Products Market - The microalgae-based products market is set to expand at a moderate CAGR of ~5% over the foreseeable future. This can be attributed to the growing popularity of microalgae-based products as a super food, and its increased usage across several sectors, including F&B, animal feed, and personal care, among others.
Antioxidants Market - The global antioxidant market is expected to grow at a steady CAGR of 5% during the forecast period. The market growth can be attributed to a host of driving factors of which, the increasing demand from the food industry to extend the shelf life of meat will remain critical.
N-MDEA Market - The N-MDEA market is expected to grow at a CAGR of ~6% during the forecast period. The ascending demand from the oil & gas sector will play an imperative role in driving the growth of the N-MDEA market in the near future.
Metal Scavenging Agents Market - Among the type segments, silica-based was the prominent segment with more than 60% share of the global metal scavenging agents market in 2018. It is expected to maintain its dominance from 2019 and 2027.
Chemical Mechanical Planarization Market - High-quality slurries are generating incremental opportunities for manufacturers in the chemical mechanical planarization market. These slurries complement the production of complex front-end memory device integrations.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
SOURCE Transparency Market Research