Reports And Data

Methylene Chloride Market Size – $ 899.8 Million in 2020, Growth - CAGR of 4.3%. Increase in demand for Methylene Chloride in the paints & coatings applications

NEW YORK CITY, NY, UNITED STATES, November 18, 2021 /EINPresswire.com/ -- The Global Methylene Chloride Market is forecast to reach USD 1,268.7 Million by 2028, according to a new report by Reports and Data. Methylene Chloride or dichloromethane is a colorless, volatile, nonflammable, slightly water-soluble industrial and commercial chemical with a slightly sweet odor. Methylene chloride is mostly used as a solvent in the manufacturing of paint stripper, a metal degreaser, and paint thinner applications and is also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. Extraction solvent in the production of decaffeinated coffee, solvent in paints & coatings, and food coloring materials as fruit & vegetable marking chemicals are some of its chemical applications. Also, in the pharmaceuticals industries, it is used as a chemical reaction and purification agent and in the refrigerating industries as a feedstock for the manufacturing of HCFC 32 or R32 refrigerants. The continuous expansion of the paint & coatings, cleaning agents, adhesives, degreasers, and food coloring agents are expected to drive the demand throughout the forecast period.

The Asia Pacific region is forecasted to grow fastest with the highest growth rate of 6.1% in the period 2019 – 2028, owing to high market penetration in paints & varnishing and food coloring applications coupled with the extensive demand for cleaning agents and automotive care products, especially in regions like India and China.

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Market Dynamics
The global chemicals and materials have a wide range of application areas such as crop protection, animal nutrition, dietary supplements, preservatives, flame retardants, surface ingredients, active pharmaceutical ingredients, and matting agents among others. Population explosion along with rapid economic growth is expected to propel market growth. Moreover, the growing urbanization, rapid industrialization, and high investment in infrastructure development create market demand over the forecast period.

Key participants include LCY Chemical Corp., ExxonMobil, Royal Dutch Shell PLC, Maruzen Petrochemicals, Arkema S.A, Celanese Corporation, Eastman Chemical Company, Petro China, Sasol Limited, and ISU Chemical.

Further key findings from the report suggest

Methylene chloride is a synthetic chemical compound to be used in the direct solvent and is widely used in the direct chemical formulations. Specialty coating, powder coating, waterborne coatings, inks, varnishes, lacquers, and direct extraction agents in decaffeinated coffee are some of its end-use applications. The direct solvent is forecasted to reach a market share of 52.6% by 2028 growing with a rate of 5.6% during the period 2019 – 2028.

Growing penetration of online retailing businesses for chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of offline retailing. Online retailing is expected to gain a market share of 34.1% by 2028.

Europe would reach a market share of 20.5% by 2028 and would grow at a CAGR of 4.9% in the forecast period. Netherland and France have some of the valuable players in this region.

North America is forecasted to witness significant growth in the overall market, with 25.7% of market possession by 2028 and a CAGR of 5.8% during the forecast period. The US possesses the highest market share in this region and is one of the vital players of the market.

The chemical intermediate segment is measured to grow at the CAGR of 5.2% in the forecast period. Methylene Chloride is utilized as the active chemical & organic intermediate in cleaning agents and adhesives manufacturing.

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For the purpose of this report, Reports and Data have segmented the global Methylene Chloride market on the basis of the end-use, sales channel, applications, and region:

End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Direct Solvent

Chemical Intermediate

Chemical Reagents

Others

Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Online Retailing

Offline Retailing

Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Paints & Coatings

Rubber & Adhesive

Chemical & Pharmaceuticals

Food Packaging & Flavoring

Others

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Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

North America

U.S

Europe

U.K

France

Asia Pacific

China

India

Japan

MEA

Latin America

Brazil

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics and industries and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market

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