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.
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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.
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.
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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.