The global methylene chloride market is expected to grow at the CAGR of 6.21% and will contribute $923 million till 2022. The methylene chloride also called dichloromethane, is a volatile and colorless liquid with a sweet smell and is mainly used as a solvent. The methylene chloride is used in various applications such as medicines, adhesives, paints etc. It is also used in cold tanks, printing, detergents, etc. Global methylene chloride market is driven by high demand from developing countries majorly from Asia Pacific region. This demand is growing due to innovative technologies and high growth in commercial manufacturing. Asia Pacific is the fastest growing market for methylene chloride globally. Increasing population and increasing production also boosts the global methylene chloride market in this region.
Another key boosting factor for the methylene chloride market is the use of methylene chloride in various medicines and pharmaceutical sector, since the healthcare industry is growing at a very rapid rate in parallel with the demand of methylene chloride. The demand of methylene chloride in pharmaceutical sector is growing in the forecast year. In end-user segments, requirement of methylene chloride is high in various applications such as solvent market, refrigerant chemical, and manufacturing and production industries and so on, also due to increasing consumption of fluorocarbon the demand of methylene chloride increases.
The methylene chloride is multipurpose chemical and is widely used in many end user industries, but employees exposed to methylene chloride is increasing the risks of many abnormalities and diseases such as development of cancer, skin and eye irritation, adverse effect on central nervous system and liver and bad effects on heart. Exposure may occurs by inhalation, contact with skin, and absorption through skin. The methylene chloride while inhaling gives chloroform like effect. The government of different regions imposed stringent rules and regulations related with quantity of production and safety measures taken while manufacturing of methylene chloride.
Global methylene chloride market is segmented into applications, ingredients, groups and regional outlook. In applications, market is divided into halogenated solvents, pharmaceuticals, chemical manufacturing and processing, blowing agents, metallurgy and paint removal products. Solvent application of methylene chloride is the fastest growing application seegment. Applications in pharmaceutical sector is fastest growing sector. Pharmaceutical industries is rising upward due to increasing prevalence of communicable and non-communicable diseases. In ingredients segment, market is divided into methyl chloride, methane, and chlorine. Methyl chloride is the fastest growing ingredient, reason being rising demand for methyl chloride in various end user industries.
In groups segment, market is divided into chloromethane. Chloromethane is a member of a group of halo alkanes and is widely used in as refrigerant. In regional outlook, market is segmented into North America, Europe, Asia Pacific and Rest of the world. The Asia Pacific region is leading the methylene chloride market. Asia Pacific is fastest growing market and is expected to grow even further in forecast year. Increasing demand for methylene chloride for solvent application in many end user industries is one of the key factor. China, the major country in Asia Pacific region is having highest demand for methylene chloride. The market for methylene chloride was majorly driven by rising demand for methylenechloride in degreaser applications and in paint stripper applications. Pakistan and India accounted for second-largest market share for methylene chloride in Asia Pacific region. India is the fastest growing country for methylene chloride in Asia Pacific region. The other regions such as Japan, Southeast Asia and South Korea are likely to exhibit stable demand for methylene chloride in forecast year. Asia Pacific is followed by Europe. Growing demand for methylene chloride from refrigerant, paints and coatings industry is one of the major factors driving the market in European region. UK is the major country in Europe and is dominated by the demand for methylene chloride. The other countries such as France, Italy, Germany, and the Netherlands are likely to increase its demand for methylene chloride in forecast year. However, environmental regulations related to methylene chloride are expected to restrict the growth of the market in this region. North American region is having the third-largest demand for methylene chloride. The United States has the largest demand for methylene chloride due to huge demand from end-user industries such as pharmaceuticals, paints & coatings, adhesives among others. The Rest of the World market is anticipated to show positive signs for methylene chloride market in upcoming years. Middle East and Africa dominate the market for methylene chloride in this region.
Some of the major market players are Asahi Glass Co. Ltd., Shin Etsu Chemical Co. Ltd., ADCO Global Inc., Tokuyama Corporation, Occidental Chemical Corporation, Ace Grosynthetics Enterprise Co. Ltd., Spectrumchemical, Acros Organics, Aicello Chemical Co. Ltd., Chemeurop, etc. Acquisition, mergers and expansions are the key strategies adopted by the market players to sustain in the market.
