The Asia Pacific Chloromethane Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 2,475.9 kilo tonnes, showcasing a growth of 4.0% (2019-2022).
Chloromethane is a chemical compound belonging to a family of natural compounds called haloalkanes. It is a highly combustible gas with a sweet odor and is poisonous. There is plenty of chloromethanes available in nature. However, it can be prepared synthetically. Chloromethane is normally prepared by daylight activity on biomass and chlorine in ocean structures. Initially, chloromethane was utilized as a refrigerant. Due to its poisonous nature, chloromethane is not for personal use. Chloromethanes include methylene Chloride, methyl chloride, carbon tetrachloride, and chloroform.
Methyl chloride, also referred to as chloromethane, is Refrigerant-40. Since its mechanical production, it has been extensively employed in refrigeration technology. It is placed with a group of natural mixtures called haloalkanes and has an aromatic smell. It has various applications, including being utilized as a refrigerant, mechanical dissolvable, silicone polymer, research facility synthetics, chlorinating specialist, herbicide, sedative, sealant, glue, and others.
The National Investment Promotion and Facilitation Agency's Invest India reports that the value of India's textile exports in FY 2021–22 exceeded US$ 44 billion, and the industry is expected to be worth $250 billion by 2025. India's domestic textile and apparel sector produced 7% of the value of all industries and contributed 2.3% to the nation's GDP. As per China.org, in 2021, the combined business revenue of China's pharmaceutical companies increased by 18.7 percent annually, the greatest growth rate in five years. All these factors will uplift the regional market’s expansion in coming years.
The China market dominated the Asia Pacific Chloromethane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $880.5 Million by 2030, growing at a CAGR of 3.1 % during the forecast period. The Japan market is registering a CAGR of 4.3% during (2023 - 2030). Additionally, The India market would experience a CAGR of 5.9% during (2023 - 2030).
Based on End-use, the market is segmented into Pharmaceutical, Agrochemicals, Textile, Automotive, Construction, Paints & Coatings, Personal Care Products, Plastics & Rubber, and Others. Based on Product, the market is segmented into Methylene Chloride, Methyl Chloride, Chloroform, Carbon Tetrachloride, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Chloromethane Market is Predict to reach $7.7 Billion by 2030, at a CAGR of 4.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Asahi Kasei Corporation, Tokuyama Corporation, AGC Chemicals Pvt. Ltd, Gujarat Alkalies and Chemicals Ltd, Occidental Petroleum Cororation, AkzoNobel N.V., Shin-Etsu Chemical Co. Ltd, Solvay SA, INEOS Group Holdings S.A., The Dow Chemical Company.
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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