Chloromethane Global Market Report 2024

The global chloromethane market has grown strongly in recent years. It will grow from $3.77 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed in the historical period can be attributed to various factors, including the expansion of the chemical industry, increased industrial applications, growth in the production of plastics and polymers, rising demand for silicone production, and the pharmaceutical sector's demand for chloromethane. These factors collectively contributed to the expansion witnessed during that timeframe.

The global chloromethane market is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for silicone, a rise in the demand for agricultural chemicals, evolving applications in solvents, the expansion of the electronics and semiconductor sector, and global growth in manufacturing activities. Major trends expected in the forecast period encompass innovations and research and development investments, regulatory shifts and compliance considerations, adaptations in the energy sector, emerging market growth, and the utilization of chloromethane as a solvent and intermediate in various industrial processes. These trends collectively contribute to the projected growth in the upcoming period.

The chloromethane market is anticipated to witness growth propelled by the expanding drug and medical industry. As a crucial chemical intermediate in the production of drugs and medicines, chloromethane plays a significant role in pharmaceutical processes. The American Medical Association reported a 2.7% increase in health spending in the U.S. in 2021, reaching $4.3 trillion, emphasizing the substantial market influence of the growing drug and medical sector.

The chloromethane market is poised for growth due to the increasing momentum in chemical production. With applications across various chemical sectors, including adhesives, sealants, silicones, and agricultural chemicals, chloromethane serves as a versatile component. A BASF SE report forecasts a 2.0% growth in global chemical production (excluding pharmaceuticals) in 2023, underlining the positive impact on the chloromethane market.

Increasing sales of passenger vehicles contribute significantly to the upward trajectory of the chloromethane market. Chloromethane's role in reducing weight and enhancing fuel efficiency aligns with the automotive industry's focus on carbon emissions reduction. In 2021, global sales of passenger cars rose by 4.39% to 56.3 million, as reported by the International Organization of Motor Vehicle Manufacturers, emphasizing the influence of automotive trends on the chloromethane market.

Major players in the chloromethane market are strategically investing to gain a competitive advantage. Strategic investments involve significant financial commitments to capitalize on growth opportunities. For instance, SRF Limited, an India-based chemicals company, announced a Rs 315 crore (approximately $38 million) investment in a new chloromethane plant, showcasing a proactive approach to market dynamics and expansion.

Azelis Holding S.A., a Belgium-based provider of specialty chemicals, made a strategic move by acquiring Spectrum Chemicals in April 2021. This acquisition bolstered Azelis' position in the chloromethane market, providing enhanced capabilities and expanded offerings in agrochemicals, home care, and industrial cleaning. The undisclosed investment underscores the commitment to growth opportunities in key sectors.

Major companies operating in the chloromethane market report are Dow Inc., Asahi Glass Co. Ltd., Gujarat Alkalies & Chemicals Ltd., AkzoNobel N.V., Solvay SA, Occidental Chemical Corporation, Ineos Group Holdings SA, Kem One SAS, Shin-Etsu Chemical Co. Ltd., Tokuyama Corporation, AGC Chemicals Ltd., Nouryon BV, Sanmar Group, SRF Limited, Fisher Scientific Inc., Gujarat Fluorochemicals Limited, Tokyo Chemical Industry Co. Ltd., BASF SE, The Chemours Company, Ercros S.A., China Petroleum & Chemical Corporation, Jiangsu Yangnong Chemical Group Co. Ltd., Celanese Corporation, Alkyl Amines Chemicals Limited, Merck KGaA, Praxair Inc., Puyang Shenghuade Chemical Co. Ltd., Shandong Dongyue Chemical Co.Ltd., Shandong Taihe Technologies Co. Ltd., and Shandong Xinlong Group Co.Ltd.

Asia-Pacific was the largest region in the chloromethane market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the chloromethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chloromethane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of chloromethane include methylene chloride, methyl chloride, carbon tetrachloride, and chloroform. Methylene chloride is a colorless chemical compound with a mild, sweet odor. It is utilized for paint removal and cleaning purposes. This versatile compound is employed in various applications, including refrigeration, industrial solvents, chemical intermediates, silicone polymers, laboratory chemicals, temperature control, and as a local anesthetic. Industries such as pharmaceuticals, agrochemicals, automotive, paints and coatings, personal care, and cosmetics use methylene chloride in different capacities.

This report provides chloromethane market statistics, including chloromethane industry global market size, regional shares, competitors with a chloromethane market share, detailed chloromethane market segments, market trends and opportunities, and any further data you may need to thrive in the chloromethane industry. This chloromethane market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The chloromethane market consists of sales of reagents, extractants, propellants, and solvents. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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