Global Methylene Chloride Market size was valued at USD 24.4 Billion in 2023 and is expected to reach USD 39.9 Billion by 2032, at a CAGR of 5.08% during the forecast period 2023 – 2032.
Methylene Chloride Market: Overview
Methylene Chloride, commonly known as Dichloromethane. Methylene chloride is a solvent used in a variety of industries and applications, such as adhesives, paint and coating products and pharmaceuticals, metal cleaning, chemical processing, and aerosols.
Various factors such as the growing usage of methylene chloride in the construction industry, and increasing usage of methylene chloride in various end use applications such as pharmaceutical production, paint remover, and metal cleaning and degreasing are driving the market growth of methylene chloride during the forecast period. Methylene dichloride paint removers are capable of removing many kinds of coatings from a range of surfaces.
However, factors such as fluctuation in raw material prices, stringent regulations about the usage and production of methylene chloride, toxicity of methylene chloride and availability of substitutes are restraining the market growth during the forecast period.
Increasing usage of methylene chloride in pharmaceutical and food beverages end use applications is expected to create lucrative opportunities for the market during the forecast period. Methylene chloride is mainly used as an effective reaction and re-crystallization solvent in the extraction of several pharmaceutical compounds and the production of many antibiotics and vitamins.
Global methylene chloride market is segmented by application, end use industries, sales channels and region. By application, the Paint remover application held the highest market share in 2022 and is expected to keep its dominance during the forecast period. Methylene chloride is a solvent found in paint and varnish strippers that are used to remove paint or varnish coatings from a variety of surfaces.
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By end use industry, the transportation end use industry held the highest market share in 2022 and is expected to keep its dominance during the forecast period. The rapidly expanding transportation sector across the globe is expected to propel the market growth of this segment during the forecast period.
By application, the medical segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The medical industry drives the Methylene Chloride industry due to the materials’ exceptional features, which include biocompatibility, stabilizability, and durability against toxic substances and high temperatures, which make them perfect for medical devices, implants, and apparatus.
By region, Asia-Pacific dominated the Methylene Chloride market in 2022 and is expected to keep its dominance during the forecast period. Rapidly expanding automotive and building & construction sectors, rising demand for methylene chloride in China, India, Japan, South Korea and ASEAN countries is driving the market growth of this region.
North America held the second largest market share in 2022 and is expected to keep its position during the forecast period. The U.S. and Canada are major contributors to the market growth in this region.
CMI has comprehensively analyzed the Global Methylene Chloride market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Methylene Chloride industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Methylene Chloride Market:
- AkzoNobel N.V.
- Dow Chemical Company
- Eastman Chemical Company
- Ercros S.A.
- Gujarat Alkalies & Chemicals Ltd.
- Ineos Group
- KEM ONE
- LOTTE Fine chemical
- Occidental Petroleum Corporation
- Olin Corporation
- PPG industries Inc.
- Shin-Etsu Chemical Co. Ltd.
- Solvay S.A.
- Tokuyama Corporation
- MC Chemicals Ltd
- Others
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