Rising demand for methyl chloride as a solvent in petroleum refining is also expected to raise global demand.

NEW YORK CITY, NY, UNITED STATES, January 7, 2022 /EINPresswire.com/ -- According to a new report by Reports and Data, the global Chloromethane Market is forecast to reach USD 6.41 Billion by 2027. Rising demand for methyl chloride as a solvent in petroleum refining is also expected to raise the global market. Chloromethane, widely known as methyl chloride, is a member of the organic compound halo alkane group. It is indeed a colorless, highly flammable gas that has a sweet smell that is heavier than air, too. In chemical plants, methyl chloride is generally synthesized by simmering sulfuric acid, sodium chloride, and methanol combination. The chemical compound is primarily used for producing methylate silicone in the manufacturing of silicone polymers. It was also used in refrigerators earlier, but chemicals such as Freon have now taken over.

While few factors constrain its applications in a large number of industries, the development of the chloromethane market, the big obstacle in the development of the chloromethane industry is increasing safety issues triggered by exposure to high chloromethane concentrations. Short exposure to this drug may also have adverse effects on the nervous system, which may induce severe health problems such as convulsions, coma, and even death. Methyl chloride toxicity may also cause liver and kidney damage. The global demand for chloromethane is segmented by the product that comprises methylene chloride, chloroform, and carbon tetrachloride. Methylene chloride is called dichloromethane too. The chemical compound is a methane chlorine derivative and is commonly used as an ingredient in the pharmaceutical sector and the fine chemical company owing to its excellent thermal stability and solubility for various substances. In turn, in the manufacture of HCF 22, chloroform is synthesized from methanol and serves as an essential raw material. Low chloroform levels are found in both inland rivers, air, and lakes, coastal waters, etc. It is used in the construction, board, and paper industries and the production of films and pesticides.

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Chloromethane Industry Overview
The global materials & chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty & personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food & beverage industries, buildings & construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.

The Asia Pacific is projected to grow as China, and India's largest chloromethane market mainly led. The main factors driving drug demand in the area are increasing demand from end consumer sectors, coupled with a lack of stringent regulations. Improving the quality of infrastructure in Asian countries is becoming a crucial driver for increasing drug demand. The organic electronics and garment market is still one of the main contributors to Asia's pacific chemical sector. Another subcomponent that elevates the development of the chemical industry is the detergent and soap industries.

Key participants include AkzoNobel NV, Asahi Glass Co. Ltd., Gujarat Alkalies and Chemicals Ltd., Tokuyama Corp., Shin-Etsu Chemical Co. Ltd., AGC Chemicals Ltd., Occidental Chemical Corp., INEOS Group, Solvay S.A., and Dow Chemical Company, among others.

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Further key findings from the report suggest

Based on the product, carbon tetrachloride generated a revenue of USD 0.55 billion in 2019 and is predicted to rise with a CAGR of 5.1% in the forecast period due to its increasing global temperature combined with growing disposable income is projected to fuel demand for the market.

The pharmaceutical industry is the major contributor to the Chloromethane Market. The construction sectors of the Asia Pacific region are the major shareholder of the market and held around 31.8% of the market in the year 2019, as it is used as a re-crystallization and an important reaction solvent in the production and synthesis of antibiotics and vitamins of various pharmaceutical compounds.

The laboratory chemicals are expected to grow with a CAGR of 4.2% in the forecasted period, due to the increasing demand for polycarbonate and phenolic resins worldwide.

The Asia Pacific dominated the market for chloromethane in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 41.3% of the market, followed by North America, which contains around 22.9% market in the year 2019.

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For the purpose of this report, Reports and Data have been segmented into the global Chloromethane market on the basis of product, end-use, application, and region:
Product Outlook
Methylene Chloride
Methyl Chloride
Carbon Tetrachloride
Chloroform
Others

End-Use Outlook
Silicone Polymers
Methylating & Chlorinating Agent
Propellant & Blowing Agent
Laboratory Chemicals
Industrial Solvent
Adhesives and Sealants
Others

Application Outlook
Pharmaceutical
Textile
Automotive
Construction
Paints & Coatings
Personal Care Products
Plastics & Rubber
Others

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Regional Outlook
North America
Europe
Asia Pacific
MEA
Latin America

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