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Methylene Chloride Market Size Forecast to Reach $1161.3 Million by 2025
Methylene Chloride Market Size Forecast to Reach $1161.3 Million by 2025
"Rise in Adoption of Methylene Chloride for Use in Newer Industrial Verticals, and Developing Economies, Would Create New Prospects for the Growth of the Global Methylene Chloride Market."

Methylene Chloride Market Size Forecast to Reach $1161.3 Million by 2025

Methylene Chloride Market size is forecast to reach $1161.3 million by 2025, after growing at a CAGR of 4.1% during 2020-2025. Globally, rising demand for methylene chloride as solvents from applications such as paints & coatings, adhesives & sealants and development in demand from fluorocarbons, along with rising demand for HFC-32 are the prime growth factors of global methylene chloride market. In addition, rise in adoption of methylene chloride for use in newer industrial verticals, and developing economies, would create new prospects for the growth of the global methylene chloride industry in the forecast period.

Methylene Chloride Market Segment Analysis - By Application

Paints & Coatings held the largest share in the methylene chloride market in 2019 and is projected to grow at a CAGR of 3.5% during the forecast period 2020-2025. By swelling the paint, solvent paint strippers penetrate the layers of paint and sever the bond between the paint and the material. The active ingredient in the most effective paint strippers is dichloromethane, also called methylene chloride. One of the first applications of methylene chloride was in paint strippers, and for many decades, it remained the predominant use. The paint strippers of methylene chloride extract several types of finishes from a variety of surfaces. Concentrations of methylene chloride are paint strippers ranging from 10 to 90%. Thus, with an increase in the demand for paints & coatings the market for methylene chloride is also anticipated to rise in the forecast period.

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Methylene Chloride Market Segment Analysis - By End Use

Transportation industry held the largest share in the methylene chloride market. Methylene chloride can be used to degrease metal surfaces and parts, such as airplane components and railroad tracks and equipment. Methylene chloride could be found in lubricant materials and decaying in automobile products such as the replacement of gaskets and the preparation of the metal components for a new gasket. Automobile specialists use a method for degrading steam methylene chloride, which extracts oils and grease from car transistor parts, diesel engines and aircraft components. Modern vapor degreasing techniques that rely on methylene chloride enable metal parts in transportation systems to be cleaned quickly and safely. With the growing demand for transportation the market for methylene chloride is also anticipated to rise in the forecast period.

Methylene Chloride Market Segment Analysis - By Geography

The Asia Pacific held the largest share with 32% in Methylene Chloride Market in 2019. Due to the rising demand for solvents from different end-user industries, Asia Pacific is projected to be one of the fastest-growing methylene chloride markets. China exhibited the highest demand for methylene chloride in Asia Pacific region in 2019. Increased demand for methylene chloride in paint stripper and degreaser applications has been the key driver of the market for methylene chloride. In the Asia Pacific region, India and Pakistan dominate the methylene chloride market. In this region, India is likely to be the fastest-growing methylene chloride country. However, for the upcoming years, other areas, such as South Korea, Japan, and Southeast Asia, is likely to have a stable market growth for methylene chloride.

Methylene Chloride Market Drivers

The growing need for methyl chloride in adhesives and paints

Growing demand for cleaning applications and increasing use as a key solvent in paint and adhesive formulations are the major drivers found in the methylene chloride sector. Thanks to its high dissolving capability, low flammability, and fast-drying properties, it is used as a primary solvent in paint and adhesive formulations. The main end users of paint and adhesives are the building and automotive industries. Demand for paints and adhesives has risen significantly due to the large-scale growth of construction projects, such as bridges, homes, and manufacturing plants, in different areas of the world. Also, the exponential growth in car sales in developed countries has contributed to an expanded market for adhesives and paints. Increased demand for paint and adhesives in various end use industries will raise the methylene chloride market in the coming years.

Increasing use of methylene chloride in pharmaceutical industry

In the medical industry, methylene chloride has a number of uses, such as for pharmaceutical applications and in processing. Dichloromethane or methylene chloride is also used in the pharmaceutical industry in blending manufacturing where solids are combined with solids, or bulk solids are combined with a limited volume of liquid to create tablets. In the extraction of several pharmaceutical compounds and in the manufacturing of many antibiotics and vitamins, methylene chloride is used as an important reaction and re-crystallization solvent. The chemical has also been used as a pharmaceutical tablet coating carrier for which residue tolerances have been established by the Food and Drug Administration (FDA). With methylene chloride cleaners, medical equipment can be cleaned easily and effectively without risking corrosion issues or damage to heat-sensitive components. Thus, with the growth in the pharmaceutical industry the demand for the methylene chloride market is anticipated to rise in the forecast period.

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Methylene Chloride Market Challenges

Health effects of methylene chloride

The health risks associated with the compound are the main limitations found in the development of the market for methylene chloride. It is a volatile liquid. Exposure to this liquid for a long period of time may cause health problems such as nausea and irritation in the respiratory tract and mucous membrane. Depending on its concentration in the air, exposure to methylene chloride can interfere with the delivery of oxygen to tissues and affect the central nervous system. Inhalation of methylene chloride for a short period of time (3-4 hours) at concentrations of 300 parts per million (ppm) or greater, causes difficulty in the detection of sounds and the vision is slightly blurred. Even the ability to respond rapidly, stay steady or perform tasks that involve precise hand movements can be affected if the inhalation is in greater quantities (800 ppm). Prolonged exposure can also lead to headaches, irritability, dizziness and nausea, tingling in the arms and legs, and numbness in the fingers and toes. In certain situations, soon after the exposure ends, these symptoms will stop. Thus, inhalation of methylene chloride causing severe health effects can hinder the growth of the market in the forecast period.

Methylene Chloride Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the methylene chloride market. Major players in the methylene chloride market are Dow Chemical, Gujarat Alkalies and Chemicals Ltd., AkzoNobel N.V., Shin-Etsu Chemical Co., INEOS, Occidental Chemicals Corporation and 3M, among others.

Key Takeaways

Increasing use of methylene chloride as an extraction solvent in the food & beverage manufacturing industry is estimated to drive the methylene chloride market over the forecast period.

Strict government restrictions imposed by the methylene chloride industry as a possible carcinogenic chemical is expected to obscure demand expansion in the next few years.

Also, increasing use of ethyl lactate as an alternative for organic solvents such as methylene chloride owing to the non-toxic and biodegradable properties of ethyl lactate derived from renewable carbohydrates will create hurdles for the methylene chloride market in the forecast period.

Due to COVID-19 palindrome, some of the supply chain operations are disrupted as the non-availability of migrant labor is interrupting certain activities, particularly in countries where methylene chloride is majorly used.

Related Reports :

A. Metal Cleaning Chemical Market

https://www.industryarc.com/Research/Metal-Cleaning-Chemicals-Market-Research-500138

B. Paints & Coatings Additives Market

https://www.industryarc.com/Research/Paints-Coatings-Additives-Market-Research-503053

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