According to the report published by Zion Market Research, the global Chloromethane Market size was valued at USD 5.04 Billion in 2022 and is predicted to reach USD 5.04 Billion by the end of 2030. The market is expected to grow with a CAGR of 7.41% during the forecast period.

Chloromethane has historically been utilised extensively as a refrigerant. However, due to its extremely high levels of toxicity, this chemical is no longer permitted in consumer products. At this time, it serves as a chemical intermediate in the production of carbon tetrachloride, chloroform, and methylene chloride, among others.

Germany is widely recognised as a highly profitable market for chloromethane and its derivatives, primarily due to its extensive application in the pharmaceutical sector. Particularly, chloromethane is employed as a local anaesthetic and as a pharmaceutical intermediate.

As apprehensions regarding sustainability and global warming increase, various sectors, including the cold chain industry, are adopting hydrofluoric olefins as a refrigeration alternative to CFCs. This development expands the potential for chloromethane sales.

Concurrently, substantial growth barriers are being erected in response to claims of high toxicity associated with the utilisation of chloromethane. The adverse effects documented by individuals who have been exposed to elevated levels of chloromethane include, but are not limited to, fatigue, vertigo, nausea, and staggering. Thus, manufacturers are attempting to create alternatives that are more intuitive to use. This is anticipated to substantially restrain market expansion.

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With the chemical formula CH3Cl, chloromethane, also known as methyl chloride, is a colourless, volatile organic compound. Industrial production involves the chemical reaction between chlorine and methane. It finds extensive utility in various sectors, functioning as a solvent, refrigerant, and precursor in the synthesis of additional compounds.

As a precursor, it is utilised in the synthesis of numerous hydrochlorofluorocarbons (HCFCs), which find application as refrigerants. Additionally, it finds application as a solvent in a multitude of chemical procedures, including the extraction of lipids and oils. Furthermore, chloromethane is utilised in the manufacturing of pharmaceuticals, agricultural compounds, and silicone polymers.

Increasing demand for refrigeration systems has a significant impact on the global market. Aligned with this, the increasing utilisation of the product as an initial material in the chemical sector for the production of diverse chemicals—including pharmaceuticals, agricultural chemicals, and silicone polymers—contributes substantially to the market.

In addition, the increasing utilisation of the product as a solvent in diverse industrial operations, including the extraction of fats and oils, is exerting a favourable impact on the market. In addition to this, the construction sector necessitates products containing chloromethane for utilisation in insulation foams, adhesives, and sealants, thereby stimulating the market.

Furthermore, the increasing utilisation of products in the manufacturing of automotive components, such as adhesives and foams, is driving market growth. Additionally, chloromethane is utilised in the pharmaceutical industry to produce active pharmaceutical constituents, which increases product uptake. Increasing global agricultural activities and the expanding use of products in the production of herbicides, fungicides, and other agricultural chemicals are also contributing to the market’s expansion.

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Analysis of the Indian Chloromethane Market Segment by Type

In 2021, the Carbon Tetrachloride segment dominated the Indian Chloromethane market with the largest share. From 2022 to 2027, this segment is anticipated to expand at a CAGR of 6.1%. This is due to the extensive properties that carbon tetrachloride possesses in comparison to methyl chloride, methylene chloride, and other substances. As well as a fumigant and refrigerant, carbon tetrachloride is employed as a degreasing agent and a solvent for dry cleaning.

Additionally, extinguishers, varnishes, and lacquers employ it. The Indian chloromethane market would be propelled by carbon tetrachloride consumption increases in the future years, which would be fueled by industrial production expansion. The increasing availability and significant benefits of carbon tetrachloride in comparison to other materials are driving the growing demand for its utilisation in key industries. As a consequence, the growth prospects for the chloromethane industry in India are being enhanced in the forthcoming years.

Analysis of the Indian Chloromethane Market Segment by Application

The segment comprising Silicone Polymers dominated the Indian chloromethane market in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2027. Silicone polymer, manufactured with chlorineomethane (HCC 40), alternatively referred to as Refrigerant-40 or R-40, is a highly sought-after product in the automotive, personal care, and electronics sectors. In addition to its flexibility, solubility in organic solvents, and water repulsion, silicone is an outstanding material to utilise as an intermediary.

Increasing silicone use in medical and personal care applications will be the primary driver of the chloromethane market over the period of forecast. The International Trade Administration estimates that the market for cosmetics and personal care products in Thailand will increase from approximately US$6.2 billion in 2018 to US$8.0 billion by 2022. Silicone polymer demand is anticipated to increase in tandem with the rising demand for end-use industries in India; this is anticipated to stimulate the growth of the Indian chloromethane market over the forecast period.

Global Chloromethane Market: Competitive Players

Some of the major companies in the global chloromethane market are:

• Asahi Glass Co. Ltd.
• AkzoNobel N.V.
• Gujarat Alkalies and Chemicals Ltd.
• The Dow Chemical Company
• Solvay S.A.
• INEOS Group
• Solvay and Tokuyama Corporation
• Shin-Etsu Chemical Co. Ltd.
• Ercros S.A.
• Alfa Aesar
• Occidental Chemical Corporation
• Kem One
• SRF Ltd.

Global Chloromethane Market: Regional Segment Analysis

• North America U.S.
• Europe UK France Germany
• Asia Pacific China Japan India
• Latin America Brazil
• The Middle East and Africa

The Asia-Pacific region is emerging as an opportunistic market for chloromethane.

The largest market for chloromethane was Asia-Pacific, and this trend is anticipated to continue throughout the forecast period due to the region’s rapid industrialization. An increase in the demand for automobiles and electronics is anticipated to indirectly stimulate the chloromethane market. The region is anticipated to expand at a CAGR of greater than 5% between 2022 and 2032.

China possesses considerable shale gas reserves and an ample supply of feedstock, both of which are significant development drivers for the Asia-Pacific region. Numerous chemical manufacturers are consequently establishing bases throughout the region. Moreover, nations like India are providing the necessary basic materials and skilled labour at relatively low costs, which encourages companies to establish manufacturing facilities in these countries.

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Pharmaceuticals maintain the most substantial market share.

A comprehensive market segmentation and analysis according to the application is also included in the report. Silicones, agricultural compounds, pharmaceuticals, chemical intermediates, and personal care products are all included. As per the report, the pharmaceutical sector held the most significant portion of the market.

Chloromethane is an intermediate utilised in the pharmaceutical industry during the synthesis of active pharmaceutical ingredients (APIs). The pharmaceutical industry and the expanding healthcare sector are the primary drivers of chloromethane demand in this sector.

Another significant application segment involves the utilisation of chloromethane as a critical raw material in the production of silicones. They find widespread application across diverse sectors such as construction, electronics, personal care, and automotive. Increased demand for products containing silicone increases the price of chloromethane.

In addition, formulations of agricultural compounds, such as fungicides and herbicides, contain chloromethane as an essential component. The escalating global agricultural sector is a significant factor in the growing requirement for chloromethane for this particular application.

In addition, chloromethane is utilised as an intermediate material in the production of a wide range of compounds, including solvents, dyes, and polymers, for chemical intermediate applications. Industry-wide demand for these chemicals drives the expansion of the chloromethane market.

In addition, specific formulations of personal care products, including hygiene and cosmetics, contain chloromethane. Changing consumer preferences and the expansion of the personal care industry contribute to an increase in demand for chloromethane in this sector.

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