The sales of chloromethanes are growing explosively, mainly on account of their requirement as raw materials for producing various industrial solvents. Huge quantities of chloromethanes are processed for producing dimethyldichlorosilane and other related organosilicon compounds. Dimethyldichlorosilane is known for serving as a precursor to silicones, which are extensively used for producing lubricants, sealants, adhesives, medicine, electrical and thermal insulation, and cooking utensils. Additionally, various derivatives of chloromethane such as methyltrichlorosilane and trimethylsilyl chloride are used as solvents in chemical processes.

The growing usage of various chloromethane derivatives as solvents is pushing up the demand for chloromethanes across the world. Besides this factor, the rapid expansion of the pharmaceutical and agriculture industries and the increasing oil and gas exploration and production (E&P) activities, especially in the Middle East and Africa (MEA) region are also propelling the demand for chloromethanes. Many major chloromethane producers and exporters across the globe are setting up their production units in the MEA region.

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Moreover, these companies are augmenting their production capacities, expanding their production facilities, and enhancing their production efficiencies in order to gain a competitive edge in the industry. For example, Nouryon announced in April 2019 that it intends to increase its chloromethane production capacity at its production facility in Frankfurt, Germany for grabbing the lucrative growth opportunity. The rapid growth of several chemical-based industries is another major factor fueling the sales of chloromethanes across the globe.

Due to the aforementioned reasons, the global chloromethanes market is predicted to exhibit huge expansion in the forthcoming years. The valuation of the market is predicted to grow from $2,675.9 million to $3,286.9 million from 2018 to 2024. Furthermore, the market is predicted to advance at a CAGR of 3.4% between 2019 and 2024. Based on type, the market is classified into methylene chloride, methyl chloride, chloroform, and carbon tetrachloride.