As industrial production has increased all across the globe,
owing to the surging population, the demand for raw materials in industries has
growing swiftly as well. Industrial solvents are important products that are
used in the production of a several products. Ascribed to this, the demand for
raw materials for making industrial solvents is growing as well. Chloromethanes
are extensively utilized as raw materials for producing industrial solvents,
owing to which, their demand is on a rise as well.
As per a report by P&S Intelligence, the global chloromethanes market is attained a
value of $2,675.9 million in 2018 and is predicted to reach a value of $3,286.9
million by 2024, exhibiting a 3.4% CAGR during the forecast period
(2019–2024). Chloromethanes are majorly
utilized as intermediates in the production of a large number of products, such
as agrochemicals, pharmaceuticals, and agrochemicals. Chloromethane is utilized
for producing dimethyldichlorosilane and other related organosilicon compounds,
which then serve as precursors to silicones.
Get the sample pages of the market overview at: https://www.psmarketresearch.com/market-analysis/chloromethanes-market/report-sample
Different types of chloromethanes are chloroform, methylene
chloride, carbon tetrachloride, and methyl chloride, out of which, the demand
for methyl chloride has been the highest up till now. Methylene is consumed
heavily for the production of paint removal and stripping products, adhesives,
flexible polyurethane foam, pharmaceutical products, and metal cleaning agents.
This surging demand for methylene is further driving the demand for methylene
across the globe.
The Asia-Pacific region emerged at the major chloromethanes market in the past, and
it is further predicted to create significant demand for these compounds in the
years to come as well. The consumption and production of chloromethanes is
incredibly high in countries such as India and China. Moreover, the China is
the leading producer of several intermediates & chemicals, pharmaceuticals,
and agrochemicals, owing to which, the demand for chloromethanes is high in the
country.
In conclusion, the expansion of the chemical industry and rising demand for industrial solvents are driving the demand for chloromethanes.
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