“The usage of chloromethanes as raw materials in the production processes of industrial solvents is a major factor fuelling their demand across the globe”. In addition to this, chloromethanes are extensively used and processed for producing dimethyldichlorosilane and various other types of related organosilicon materials. Furthermore, the burgeoning utilization of dimethyldichlorosilane for producing silicones, which are used in a plethora of applications such as the production of adhesives, lubricants, sealants, electrical and thermal insulation, cooking utensils, and medicines is significantly boosting the demand for chloromethanes all over the world.

 

Apart from the above-mentioned factor, the soaring utilization of the various derivatives of chloromethanes such as methyltrichlorosilane and trimethylsilyl chloride as solvents in multiple chemical processes is also responsible for the surging requirement of chloromethanes throughout the world. Besides this, chloromethanes are also widely used in the pharmaceutical industry. Moreover, “the rapid expansion of the pharmaceutical industry is causing a huge spike in the demand for these compounds all over the globe”.

Get a sample copy of this report:
https://www.psmarketresearch.com/market-analysis/chloromethanes-market/report-sample

Thus, with the growing adoption of chloromethanes in various chemical processes, “the global chloromethanes market is expected to surge, in value, from $2,675.9 million in 2018 to $3,286.9 million by 2024”. Furthermore, the market research firm, P&S Intelligence expects the market to demonstrate a CAGR of 3.4% from 2019 to 2024. Methylene chloride, methyl chloride, chloroform, and carbon tetrachloride are the most commonly used types of chloromethanes. Amongst these, the usage of methylene chloride was observed to be the highest in the past, because of its extensive utilization in the production of adhesives, flexible polyurethane foam and pharmaceutical products.

Geographically, North America held the largest share in 2019, which is majorly ascribed to the high demand for levulinic acid for the production of the fuel additive n-butyl levulinate, in the region. The demand for the compound is also witnessing strong growth from the personal care and agriculture sectors of the U.S. and Canada; It is widely gaining usage as an additive for environment-friendly herbicides. With the increasing adoption of herbicides with renewable chemicals, the consumption of the compound is expected to further ramp up in the coming times.

Moreover, the depleting fossil fuel reserves and increasing environmental concerns have led to an increased focus on the conversion of biomass into fuels, in the region.