Chloromethane Market to Reach a Value of ~US$ 4.6 Bn by 2027

Global Chloromethane Market: Key Highlights
  • The global chloromethane market was valued at ~US$ 3 Bn in 2018, and is anticipated to expand at a CAGR of ~4% during the forecast period.
  • The silicone manufacturing segment accounted for a major share of the global chloromethane market in 2018, owing to the high demand for silicone fluids, silicone elastomers, and silicone resins.
  • The medical & pharmaceuticals segment is estimated to expand at a rapid pace during the forecast period, led by the high demand for chloroform in medical and pharmaceutical industries across the globe.
  • Asia Pacific is anticipated to be a key region of the global chloromethane market in the near future, due to the increase in the demand for foam blowing agents, agrochemicals, medicines, and chemical solvents in developing economies such as China, India and ASEAN countries in the region.
High Demand for Chloromethane for Manufacturing Silicone Polymers
  • Increase in the demand for chloromethane as a raw material to manufacture silicon products is projected to boost the chloromethane market during the forecast period. Chloromethane is known as methyl chloride, which is widely used in various industrial applications across the globe. The silicone industry is one of the major consumers of chloromethane and its derivatives, which are used to produce raw materials during the manufacturing process.
  • The global medical industry has been expanding at a rapid pace, owing to the increase in incidence of constipation, acidity, and abdominal pain among the large population. This is fuelling the demand for medicines and tablets across the globe. Rise in the demand for effective medicines in constipation therapeutics is likely to augment the demand for chloromethane in the next few years.
  • Chloromethane is primarily employed in medical and pharmaceutical industries to manufacture several drugs, catalysts, and laboratory chemicals. Chloromethane is also used to synthesize methylcellulose in the pharmaceutical industry. Methylcellulose has key applications in the treatment of constipation, abdominal pain, and other ailments, in several countries.
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Methyl Chloride to Lead Chloromethane Market Expansion
  • Based on product, the methyl chloride segment constituted a key share of the global chloromethane market in 2018, owing to the large consumption of chloromethane in the global silicone industry. It has other applications such as plastic stabilizers, extraction of greases, and oils. The segment is expected to expand at a significant CAGR of more than 4.0% from 2019 to 2027. It is anticipated to continue its dominance during the forecast period.
  • The methylene chloride segment also accounted for an important share of the global chloromethane market in 2018. Dichloromethane, also known as methylene chloride, is used in key applications in decaffeinating coffee and tea products. Dichloromethane is employed as a foam blowing agent in the foam industry. The methylene chloride segment is expected to expand at a moderate pace in the next few years, due to the high demand for chloromethane in degreasing products across the globe.
Silicone Manufacturing to Offer Lucrative Opportunities for Chloromethane Market
  • Based on application, the silicone manufacturing segment held a prominent share of the global market in 2018. The segment is anticipated to expand at a CAGR of 4.5% from 2019 to 2027.
  • Chloromethane is extensively used as a raw material to produce methylate silicones by major manufacturing companies across the world. Silicone polymer is an important compound in the polymer industry, owing to its unique properties such as durability, adhesion, and foam control. Rise in the demand for silicone products such as fluids, gels, resins, and elastomers in several end-use industries is estimated to boost the chloromethane market in the near future.
  • The medical & pharmaceuticals segment is projected to expand at a CAGR of ~4% from 2019 to 2027. Chloromethane is used in various pharmaceutical applications to manufacture laboratory chemicals and medicines. High demand for medicines and laboratory chemicals in countries such as China, the U.S., Germany, and India is likely to drive the global chloromethane market during the forecast period.
Asia Pacific Dominates Global Chloromethane Market
  • Asia Pacific dominated the global chloromethane market in 2018. The market in the region is expected to expand at a rapid pace from 2019 to 2027. Rise in population, rapid urbanization, and strong economic growth are major macroeconomic drivers anticipated to propel the demand for chloromethane in the near future. Increase in the consumption of silicone polymers in end-use industries such as construction and electronics is also estimated to drive the chloromethane market in Asia Pacific.
  • In terms of consumption, Europe and North America are projected to be prominent regions of the global chloromethane. After Asia Pacific, Europe secured a key share of the market in 2018, due to the strong presence of end-use industries in the region. However, the presence of stringent government regulations on chloromethane is projected to adversely affect the market in the region during the forecast period.
  • Chloromethane is listed as a hazardous chemical substance in the U.S., owing to the negative effect on ozone health. Therefore, the chloromethane market in North America is projected to expand at a sluggish pace in the near future.
  • The chloromethane markets in Latin America and the Middle East & Africa are anticipated to expand at a moderate pace. The Middle East & Africa is estimated to provide attractive opportunities for chloromethane companies, due to the presence of limited regulations on chloromethane in the region.
Global Chloromethane Market – Key Developments
  • In 2019, Nouryon, a subsidiary of AkzoNobel Specialty Chemical Co., Ltd, started the construction of a chloromethane manufacturing facility in Frankfurt, Germany. The construction of the overall facility is likely to be completed by 2020. This move is a part of the company’s strategic implementation of global expansion.
  • In 2017, Meghmani Finechem Ltd., an India-based company, announced plans to set up a chloromethane plant in Dahej, Gujarat. The plant is projected to produce methyl chloride, chloroform, carbon tetrachloride, and dichloromethane. Through this move, the company aims to meet the rising demand for chloromethane in the pharmaceutical industry in India.
Global Chloromethane Market: Competition Landscape
The global chloromethane market is fragmented, with the presence of a large number of global and regional players. Some major companies are backward integrated in the supply chain of the chloromethane market.
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Key players operating in the global chloromethane market include:
  • Dow Chemical Company
  • AGC Chemicals
  • Gujarat Fluorochemicals Limited
  • The Sanmar Group
  • Nouryon
  • Occidental Petroleum Corporation
  • KEM ONE
  • Shin-Etsu Chemical Co., Ltd.
  • Gujarat Alkalies and Chemicals Limited
  • Spectrum Chemical Manufacturing Corporation.
  • Krunal Acid Agency
  • Mitsubishi Australia Ltd.
  • Tokuyama Corporation
  • SRF Limited
  • Benzer Multi-Tech India Private Limited.

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