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Global Methylene Chloride Market to Witness 5.1% CAGR During 2016 – 2022

October 2016

According to a new market research report “Global Methylene Chloride Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Application (Pharmaceuticals, Chemical and Foam Manufacturing, Paints and Varnishes, Food and Beverages, Metal Cleaning and Others)” published by P&S Market Research, the global methylene chloride market is projected to reach $1,035.8 million by 2022, growing at a CAGR of 5.1% during 2016 - 2022.

Explore Report Description at: https://www.psmarketresearch.com/market-analysis/methylene-chloride-market

Global methylene chloride market worth $785.6 million in 2015

As per the research, the global methylene chloride market is likely to grow from $785.6 million in 2015 to $1035.8 million by 2022. The factors driving the growth of the global market include increasing use of solvent in end-use industries such as pharmaceuticals, food and beverages, paint and varnishes, metal cleaning and others, high demand from developing nations and increasing demand in paints and varnishes industry. Additionally, the increasing demand in niche engineering industries is further boosting the opportunities for increasing demand for methylene chloride.

Insights on market segments

As per the findings of research, the pharmaceutical industry has been the largest applications market globally. And paints and varnishes segment has been the largest revenue generator for the global market for methylene chloride.

Asia-Pacific stand as the largest and fastest growing methylene chloride market

Geographically, Asia-Pacific has been the largest and fastest growing market for methylene chloride. The increasing population, growth of infrastructure along with end-use industry has accelerated the demand of methyl chloride in the region. China accounts for the largest demand in the region followed by India and Pakistan. India would register the fastest growth in the Asia-Pacific methylene chloride market during the forecast period. Other countries such as Japan, South Korea and some nations in South-East Asia are expected to exhibit a stable growth in the methylene chloride market. Owing to improving health services and high demand from paints and varnishes industry, the demand for methylene chloride is showcasing significant growth in the region. The stringent environmental regulations across Europe and North America act as an important factor influencing the growth of the markets of these regions. Additionally, economic slowdown in European Union and North America, affect the economy of other developed countries, which is a major factor for commercial success of end-use industry; however, the U.K. has the highest demand of methylene chloride and countries such as France, Germany, Italy and the Netherlands are expected to increase their demand for methylene chloride in the upcoming years. North America has the third largest demand for methylene chloride, owing to its large base of coating and adhesive industries. Africa and Middle-East dominate the demand for methylene chloride in the Rest of the world (RoW) region.

Increasing use of solvent in end-use industries bolster market growth

The global methylene chloride market is growing at a significant rate due to growing automotive industry, technological advancements, increasing demand for coatings in key industries and increasing demand for methylene chloride in personal care and cosmetics industries. Increasing use of solvent in end-use industries and rising demand of methylene chloride from paints and coatings industry is fueling the growth of the methylene chloride market.

Methylene chloride forms an active ingredient in the manufacture of various products such as paint removers, non-flammable adhesive, aerosols, flammability suppressant, vapor pressure depressant, viscosity thinner, specialized spray paints, lubricants and polycarbonate resin. Additionally, residue tolerances have been established by the Food and Drug Administration (FDA) to increase their usage. This makes it evident that methylene chloride is used in various end-use industries and with rapid growth of industries in various developing nations, the demand for methylene chloride is expected to increase during the forecast period.

Methylene chloride is preferred in paints and coatings industry, owing to their characteristics such as cost-effectiveness, ability to be applied cold and potential to remove a wide variety of paints. Additionally, methylene chloride is used in bathtub re-finishing. Paints and coatings industry is expected to register substantial growth during the forecast period, owing to increasing industrialization, urbanization, infrastructure development, and increasing disposable income in developing economies of China, India, Vietnam, South Korea, Thailand, Brazil, Argentina and South Africa.

Top three players account for major market share

The research states that the global methylene chloride market had a consolidated structure in 2015, where the top three competitors accounted for a major share of the market. Some of the key players in the global market include AkzoNobel N.V, INEOS group, The Dow Chemical Company, Occidental Petroleum Corporation, Eastman Chemical Company, Asahi Glass Co. Ltd., KEM ONE, PJSC Khimprom and Shin-Etsu Chemical Co.

By Application

  • Pharmaceuticals
  • Chemical and foam manufacturing
  • Paints and varnishes
  • Food and beverages
  • Metal cleaning
  • Others

By Region

  • Asia-Pacific
    • China
    • India
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • France
    • Spain
    • U.K.
    • Rest of Europe
  • North America
    • U.S.
    • Rest of North America
  • Rest of the World (RoW)
    • South America
    • Middle East and Africa (MEA)