Demand for Chloromethanes Set to Surge in Asia-Pacific (APAC) in Future


Posted October 8, 2020 by Manishbaghel

The global chloromethanes market is expected to surge, in value, from $2,675.9 million in 2018 to $3,286.9 million by 2024”. Furthermore, the market research firm, P&S Intelligence expects the market to demonstrate a CAGR of 3.4% from 2019 to 2024.

 
The usage of chloromethanes as raw materials in the production processes of industrial solvents is a major factor fuelling their demand across the globe”. In addition to this, chloromethanes are extensively used and processed for producing dimethyldichlorosilane and various other types of related organosilicon materials.

Thus, with the growing adoption of chloromethanes in various chemical processes, “the global chloromethanes market is expected to surge, in value, from $2,675.9 million in 2018 to $3,286.9 million by 2024”. Furthermore, the market research firm, P&S Intelligence expects the market to demonstrate a CAGR of 3.4% from 2019 to 2024. Methylene chloride, methyl chloride, chloroform, and carbon tetrachloride are the most commonly used types of chloromethanes. Amongst these, the usage of methylene chloride was observed to be the highest in the past, because of its extensive utilization in the production of adhesives, flexible polyurethane foam and pharmaceutical products.

Get the sample pages of the market overview at:https://www.psmarketresearch.com/market-analysis/chloromethanes-market/report-sample

As mentioned in the above paragraphs, the major application areas of chloromethanes are in the pharmaceuticals industry and the production of chemicals and intermediates. Between the two, “the utilization of the compound was observed to be higher in the production of chemicals and intermediates in the last few years”. This is predominantly because of the large-scale usage of the chemical in the production of various other compounds and precursors to many intermediates such as butyl rubber, extractant for oils, resins, propellants, blowing agents, and greases.


However, despite the aforementioned reasons, the usage of chloromethanes will increase at a faster rate in the pharmaceuticals industry in the forthcoming years. Speaking of the global demand for chloromethanes, “the Asia-Pacific (APAC) region will observe the highest utilization of the compound in the upcoming years”. This is due to the ballooning production and consumption of the chemical in China, on account of the country being one of the largest producers of various pharmaceuticals, agrochemicals, and chemicals in the world.


Because of the above-mentioned reasons, the chloromethanes market is currently exhibiting huge expansion in China and this trend is predicted to continue over the coming years. This is attributed to the presence of flourishing industrial and manufacturing sectors in the country and the large-scale utilization of the chemical in various industrial and chemical production processes. Additionally, the existence of a booming pharmaceuticals industry will further boost the demand for the chemical in the country in future.


Thus, it may be said with surety that the demand for chloromethanes will shoot-up all over the globe in the coming years, primarily because of their increasing usage for the production of solvents and various other chemical intermediates.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business , Research , Services
Tags chloromethanes market , chloromethanes market demand , chloromethanes market future , chloromethanes market growth , chloromethanes market scope , chloromethanes market share , chloromethanes market size , chloromethanes market trends
Last Updated October 8, 2020