Methylene Chloride Market Dynamics Trends, Segmentation, Key Players, Application And Forecast to 2023
Global methylene chloride market is expected to reach $2,485.5 million by 2023. However, the proposed ban from Environmental Protection Agency (EPA) regarding the commercial and consumer use of methylene chloride as a paint stripper, is expected to impact the European and North American market in the coming years.
On the basis of application, the methylene chloride market is segmented into pharmaceuticals, food and beverages, paints and varnishes, metal cleaning, chemical and foam manufacturing, and others. Chemical and foam manufacturing has been the leading application category, attributed to its growing demand due to its superior blowing performance and wide use in specialty chemical formulations
The adoption of methylene chloride in the region is on the rise because of emergence of new areas of application of the compound, easy availability of the raw material, rapid penetration of industrialization in developing countries, increasing production base, and growing demand from end user industries.
The demand of this compound as an auxiliary blowing agent is on the rise. It gives softer foam as compared to materials blown to the same density with water.
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Some of the major players in the methylene chloride industry are Akzo Nobel N.V, Eastman Chemical Company, Asahi Glass Co. Ltd., KEM ONE, Olin Corporation, INEOS Group Holding S.A, Occidental Petroleum Corporation, Shin-Etsu Chemical Co.
Ltd., PJSC Khimprom, and LOTTE Fine Chemical.
Global Methylene Chloride Market Segmentation
- Food and Beverages
- Paints and Varnishes
- Metal Cleaning
- Chemical and Foam Manufacturing
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC
- Rest of the World (RoW)
- South Africa
- Rest of RoW
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