Asia-Pacific to Dominate Chloromethane Market During Forecast Period
Growing demand for chloromethane from end-user industries to
drive the growth of global chloromethane market during the forecast period
According to
TechSci Research report, “Global Chloromethane
Market By Manufacturing Process, By Product Type, By Application, By
Region, Competition, Forecast & Opportunities, 2025”, global chloromethane
market is expected to grow steadily over the forecast period on account of rapidly
expanding electronics and automotive market, which is driving silicone production
market and in turn is likely to increase the demand for chloromethane during
the forecast years. Moreover, growing utility of chloromethane in petroleum
refining is further expected to augment its global demand. In addition to this,
chloromethane is also used as an intermediate during the manufacturing of drugs
and as a local anesthetic in medication which is positively influencing the
product demand. However, some factors that can act as major impediments to the
growth of global chloromethane market through 2025 include high toxicity levels
of this chemical and presence of stringent regulations regarding its storage,
handling, usage and wastage.
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Global chloromethane
market can be segmented based on manufacturing process, product type,
application and region. Considering the applications, the market is fragmented
into pharmaceutical, medical, metal cleaning, refrigerants, foam blowing and
chemical intermediaries. The pharmaceutical application segment is estimated to
contribute major revenue share to global chloromethane market and record high
growth during the next 5 years which can be attributed to its extensive usage in
production of chloroform, which is an important chemical compound.
Asahi Glass Co.
Ltd, AkzoNobel N.V., Occidental Chemical Corporation, Solvay SA, Shin-Etsu
Chemical Co. Ltd., Dow Chemical Company, INEOS Group, Olin Corporation,
Tokuyana Corporation, Gujarat Fluorochemicals Ltd among others are the leading
players operating in global chloromethane market.
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“Asia-Pacific
is forecast to dominate global chloromethane market over the next 5 years on
the account of rising demand from developing countries like China and India. Moreover,
rapid infrastructure development coupled with rising disposable income are further
boosting the regional growth for this market. North America chloromethane
market is also anticipated to witness significant growth in the years to come
on account of growing silicone industry particularly in the U.S.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Chloromethane Market By Manufacturing
Process, By Product Type, By Application, By Region, Competition, Forecast
& Opportunities, 2025” has evaluated
the future growth potential of global chloromethane market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global chloromethane market.
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