Global methylene chloride market is expected to reach $2,485.5 million by 2023, P&S Market Research.
The growth of the market will be mainly driven by the increasing product demand for cleaning applications and increasing use of it in the paint and adhesive industry. However, the proposed ban from Environmental Protection Agency (EPA) regarding the commercial and consumer use of methylene chloride as a paint stripper, is expected to impact the European and North American market in the coming years.
Browse report overview with 63 tables and 30 figures spread through 96 pages and detailed TOC on "Methylene Chloride Market by Application (Pharmaceuticals, Food & Beverages, Paints & Varnishes, Metal Cleaning, Chemical & Foam Manufacturing), by Geography (U.S., Canada, France, Germany, Spain, U.K., China, India, Japan, Indonesia, South Korea, Pakistan, Brazil, Mexico, South Africa) – Global Market Size, Share, Share, Development, Growth, and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/methylene-chloride-market
Insights on market segments
On the basis of application, the methylene chloride market is segmented into pharmaceuticals, food and beverages, paints and varnishes, metal cleaning, chemical and foam manufacturing, and others. Chemical and foam manufacturing has been the leading application category, attributed to its growing demand due to its superior blowing performance and wide use in specialty chemical formulations.
Asia-Pacific stands as the largest methylene chloride market
Globally, Asia-Pacific has been recording the highest revenue in the methylene chloride market. This is attributed to the increasing population and infrastructural growth in the region. The adoption of methylene chloride in the region is on the rise because of emergence of new areas of application of the compound, easy availability of the raw material, rapid penetration of industrialization in developing countries, increasing production base, and growing demand from end user industries.
For example, the rapidly growing pharmaceutical industry in the region is driving the demand for the compound for different applications, including tablet coating and production of antibiotics and vitamins. Besides, initiatives taken by the governments of various countries for providing health services at reasonable costs have contributed to the medical and pharmaceutical industry growth in the region, resulting in increased use of this compound in the industry. Also, applications in industries such as food and beverages and metal cleaning are driving the methylene chloride market in the region.
Increasing demand of the compound as an auxiliary blowing agent is creating immense opportunity for methylene chloride market growth
The demand of this compound as an auxiliary blowing agent is on the rise. It gives softer foam as compared to materials blown to the same density with water.
For example, it is widely used in place of fluorocarbon as a blowing agent for the production of flexible slabstock polyurethane foam in the bedding and furniture industry. Also, in recent years, several industries have started using advanced technologies related to blowing agents to reduce production cost, conduct research, and explore more productive ways to meet the consumer demand in an efficient manner. Thus, increasing demand for this compound as an auxiliary blowing agent is creating ample growth opportunities in the methylene chloride market for industry players.
Methylene Chloride Market Competitive Landscape
Some of the major players in the methylene chloride industry are Akzo Nobel N.V, Eastman Chemical Company, Asahi Glass Co. Ltd., KEM ONE, Olin Corporation, INEOS Group Holding S.A, Occidental Petroleum Corporation, Shin-Etsu Chemical Co. Ltd., PJSC Khimprom, and LOTTE Fine Chemical.
Global Methylene Chloride Market Segmentation