Zion Market Research, the market research group announced the analysis report titled ‘Chloromethane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024′
Global Chloromethane Market: Overview
A chloromethane is a group of organic compounds. It is toxic, highly inflammable colorless chemical compound and has a mildly sweet odor. Its major types include chloroform, methylene chloride, and carbon tetrachloride. They have various applications and are majorly used in silicon industry and pharmaceutical industry. The demand for chloromethane is rising significantly owing to factors such as rapid industrialization, better living standards and increasing demand from the automotive and electronic sectors.
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Global Chloromethane Market: Segmentation
The global chloromethane market is segmented into its type, application, and geography. On the basis of type, the global market is divided into methylene chloride, methyl chloride, carbon tetrachloride and chloroform. The application of the chloromethane can be segregated based on each of its type. Methyl chloride is utilized in the production of methyl cellulose, silicones, quaternary ammonium compounds, building products and butyl rubber. Methylene chloride is used in chemical processing, the pharmaceutical industry, as a foam blowing agent, paint removal, and metal cleaning. Application of chloroform can be seen in pharmaceuticals, manufacturing HCFCs, agricultural products and chemical intermediate products and application of carbon tetrachloride can be seen in agrochemicals, pharmaceuticals, blowing agents, solvent and others.
Global Chloromethane Market: Growth Factors
The global chloromethane market is a growing market owing to factors such as increasing demand in the electronic and automotive sector, rapid industrialization, rising living standards, various regulations, which support the increasing consumption of chloromethane, increasing research and development activities for new applications and technological advancements. There is a major demand for chloromethane in the silicon industry, which further boosts the chloromethane market. Methyl chloride and silicon industries are the various segments in which demand for chloromethane is seen to be increasing gradually. However, there are certain restraining factors to the market growth. They include high flammability and toxicity levels, environmental issues rising due to the utilization of chloromethane and stringent regulations on the storage, usage, and handling of chloromethane.
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Global Chloromethane Market: Regional Analysis
The largest share in the global chloromethane market is held by Asia Pacific. This growth can be attributed to factors such as rapid industrialization, growing demand in the automotive, pharmaceutical and electronic sector, minimum regulations, increasing population demand and better infrastructural opportunities. Major countries in Asia Pacific showing a significant growth are China, India, Japan, Australia and New Zealand. In China, India, and Japan, high-growth potential for foam blowing agents, chemical intermediates, and pharmaceuticals can be seen which may further boost the growth in these regions. Following the growth in Asia Pacific are North America, Europe, Latin America and the Middle East and Africa. In Europe, moderate growth is visible owing to high regulations placed concerning environmental issues. Similarly, in North America, a significant share is provided by the U.S. and Canada. Latin American countries such as Brazil and Argentina and the Middle East and African countries such as North Africa and South Africa are also providing a decent share in the market growth.
Global Chloromethane Market: Competitive Players
Some of the major companies in the global chloromethane market are Asahi Glass Co. Ltd., AkzoNobel N.V., Gujarat Alkalies and Chemicals Ltd., The Dow Chemical Company, Solvay S.A.,INEOS Group, Solvay and Tokuyama Corporation, Shin-Etsu Chemical Co. Ltd., Ercros S.A., Alfa Aesar, Occidental Chemical Corporation, Kem One and SRF Ltd.
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Global Chloromethane Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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