Methylene Chloride Market Scope Report

Global Methylene Chloride Market Highlights Over 2023 - 2033

The global methylene chloride market is estimated to garner a notable revenue by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a significant revenue in the year 2022. The growth of the market can be attributed to the rising demand for methylene chloride in different verticals such as automotive and construction industries. As per the International Organization of Motor Vehicle Manufacturing, the global sales of all vehicles accounted for 82,684,788 in the year 2021.

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Methylene chloride refers to a nonflammable toxic liquid CH2Cl2 used primarily as a solvent, paint remover, and aerosol propellant. It is widely used in a variety of industries as it is used in the removal of paint, metal degreasing and cleaning, as well as manufacturing. Hence, growth of metal industry is projected to increase the growth of the global methylene chloride market. In the year 2021, more than 45 Million metric tons of iron ore are produced in the United States.

Global Methylene Chloride Market: Growth Drivers and Challenges

Growth Drivers

• Rising Demand for Fluorocarbons– Fluorocarbons are used in the refrigerators and freezers to keep them cool. Moreover, the methylene chloride is used for the development of fluorocarbons. Therefore, it is anticipated to surge the growth of the global methylene chloride market.  More than 7 Million refrigerators are sold each year in the United States.

• Growing Need in Paints & Coatings Industry– The methylene chloride is used as a solvent in paint remover for removing paints and coatings. Hence, it is expected to boost the growth of the global methylene chloride market. In the year 2020, the United States painting and coating industry employed 299,500 employees as per the American Coating Association

• Increasing Adoption in Food & Beverage Manufacturing Industry– The decaffeination process includes methylene chloride in order to maintain coffee flavor better than any other process. The global coffee production has reached more than 170 Million in the year 2020-2021.

• Surging Use in Pharmaceuticals– The United States spent more than 80 Billion in research and development in the year 2019.

Challenges

• Alternative Present in the Form of Ethyl Lactate

• Health Concern Related to Methylene Chloride Side Effects

• Stringent Regulations by the Regulatory Body

The global methylene chloride market is segmented and analyzed for demand and supply by application into chemical processing, paint remover, pharmaceuticals, metal cleaning, and others. Out of these, the paint remover segment is anticipated to hold the largest share over the forecast period owing to the rising demand for methylene chloride in paints & coatings industry followed by the rise in the construction of buildings owing to urbanization. According to the United Nations, 68 per cent of the total population will live in urban area by the end of the year 2050.

Global Methylene Chloride Market Regional Synopsis

Regionally, the global methylene chloride market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of surging demand for methylene chloride in different verticals. Moreover, the increasing development of smart cities in the emerging countries such as India will contribute to the growth of the market in the region. As per the India Brand Equity Foundation, the smart cities project has covered nearly 100 cities for the development.

Market Segmentation

Our in-depth analysis of the global methylene chloride market includes the following segments:

Key Companies Dominating the Global Methylene Chloride Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global methylene chloride market that are included in our report are Solvay, Olin Corporation, Akzo Nobel N.V., KEM ONE, LOTTE Fine Chemical, PPG Industries, Inc., Eastman Chemical Company, The Dow Chemical Company, Gujarat Alkalies and Chemical Company, Ercros S.A, and others.

Global Methylene Chloride Market: Latest Developments

• July, 2022: Akzo Nobel N.V announced to acquire Lankwitzer Lackfabrik GmbH in order to complement its existing powder coatings portfolio and expand the range of innovative products

• October, 2022: The Dow Chemical Company announced to accelerate the sustainability through transforming waste and alternative feedstock for delivering 3 Million metric tons per year of circular and renewable solutions by 2030

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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