Global Methylene Chloride Market Size, Share, Development, Growth Till 2022

Methylene chloride or dichloromethane (DCM) is an organic compound having the formulae CH2Cl2. Methylene chloride is a colorless, volatile, neutral liquid with a moderately sweet aroma that is mainly used as a solvent. Though it is not miscible in water, it dissolves easily with organic solvents. It has better solvency power to most organic chemicals and materials. It emits highly toxic fumes of phosgene when heated to decomposition. Proper handling and storage should be taken in handling the gas, as exposure to methylene chloride may cause hazardous health related problems.

The global methylene chloride market was valued at $785.6 million in 2015, and it is expected to grow at a CAGR of 5.1% during 2016 – 2022. The factors driving the growth of the global market include increasing use of solvent in end-use industries, 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. Globally, the paints and varnishes industry is expected to register substantial growth in the coming years, thus boosting the demand for methylene chloride. Paints and varnishes industries use methylene chloride for formulating various paint stripper and powder coating removal chemicals. With the growth of paints and varnishes industry, the demand for methylene chloride is also increasing rapidly. Moreover, methylene chloride is used in the manufacturing process of various paint strippers, which are used to remove polyester powder coatings from aluminum and steel components, typically used in construction and automotive industries.

Among the various applications, the pharmaceuticals safety and decorative film segment have emerged as the major contributor in the global methylene Chloride market.

Asia-Pacific held the largest share (78.9% in terms of value in 2015) in the global methylene chloride market, and it is also anticipated to witness the highest growth (CAGR 5.2%) during 2016 – 2022 in terms of value. 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.

Get More Information Visit: P&S Market Research

 

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