Global Chloromethane Market was valued at US$ 1.94 Bn in 2019 and is expected to reach US$ 2.4 Bn by 2027, at a CAGR of 2.7 % during a forecast period.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding chloromethane market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in chloromethane market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Chloromethane, also called as methyl chloride, HCC-40 or R-40 belongs to a group of organic compounds called halo-alkanes. It is a tremendously flammable colorless gas which is generally detected at toxic levels. Chloromethane is manufactured by boiling a mixture of sodium chloride, sulfuric acid and methanol. The amount of chloromethane is produced naturally in the oceans by the action of sunlight on chlorine and biomass in sea foam. It is used in manufacturing silicone polymers, butyl rubber and in petroleum refining. Chloromethane was used as a refrigerant, but was discontinued on account of its flammability and toxicity. Due to its extensive toxic effects, it is no longer used in consumer products.

Growth of the electronics and automotive in silicon market, rapid industrialization are the major driving factors for the growth of the market in the forecast period. High toxicity levels of the products, and stringent government rules and regulation regarding storage, handling hamper the growth of the market. Rising demand in BRICS and focusing on research and development (R&D) activities towards developing innovative techniques is likely to open opportunities for the growth of the market in the foreseen period.

Based on type, methyl chloride leads the market in the foreseen period and to be the largest dominating segment which is extensively used in medical and pharmaceutical industries. Methyl chloride also used as immediate raw material for methylene chloride, carbon tetrachloride and chloroform production. Chloromethane is used for manufacturing of silicon polymer as well as butyl rubber. Methylene chloride is also used in metal cleaning, as foam in blowing agent and pharmaceutical sector.

Based on application, Chloromethane application in chemical industry is expected to grow at a rapid rate owing to its potential use as an herbicide, fluid for thermometric and thermostatic apparatus and catalyst carrier in low temperature polymerization. Silicon occurred as the largest application segment on account of its increasing demand in diverse end-use industries such as automotive and personal care is expected to be a major factor driving chloromethane market growth in the forecast period.

Geographically, Asia Pacific is a develop market of the Chloromethane. The demand in the area is high due to the presence and development of end-use industries such as Pharmaceuticals, Chemical processing and others for the product. The region accounted highest CAGR of the global market in 2017. In APAC region, China held the highest market share, in terms of volume, followed by India and Japan. Asia Pacific is a potential market due to the presences of developing countries such as China and India.