CHLOROMETHANE MARKET

 

Market Overview:

                The chloromethane market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, several countries around the world went into lockdown to curb the spreading of the virus. The supply and demand chain was completely disrupted, which impacted the demand for chloromethane from various applications such as agriculture, personal care, chemicals, and other applications. However, the condition is expected to recover in 2021, which is expected to benefit the market during the forecast period.


Key Market Trends:

          The production of chemical intermediates such methyl chlorosilanes uses a significant portion of the chloromethane produced as feedstock. The creation of silicone fluids uses these methyl chlorosilanes.
Many different products, including processing aids (antifoaming agents, releasing agents, and light-duty lubricants), speciality chemicals for consumer products, and silicone fluids manufactured from chloromethane are used (cosmetics, furniture polishes, auto polishes, and paper coatings).
Water-repellent resins, coatings, moulding resins, electrical insulation, laminating resins, etc. all employ silicone resins.
Silicones are a superior material choice for intermediates due to qualities including flexibility, water-repellence, and solubility in organic solvents.

  • The Asia-Pacific region is expected to dominate the market for chloromethane during the forecast period. In countries like China, India, Japan, and South Korea, owing to the increasing demand from various end-user industries, the demand for chloromethane has been increasing in the region.
  • China is the second-largest market for pharmaceuticals globally. The market for pharmaceuticals is emerging rapidly, owing to the growing middle-class and aging society present in the country, rising incomes, and increasing urbanization. The pharmaceutical sales of the country are expected to reach up to USD 175 billion by 2022. This is expected to boost the growth of chloromethanes used in pharmaceutical applications.

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