The global market for chloromethane is expected to get boosted by various end user industries and reach a valuation of USD 2171.6 million during the forecast period of 2016 to 2022. The process will witness a steady rise with a 4.63% CAGR during the same time. Market Research Future (MRFR), in their latest assessment, revealed that factors like traction from the demand for chemical intermediates, hike in the inclusion of the component in medical and pharmaceutical industries, and others can bolster the market growth. However, stringent regulations in various countries can be a restraining factor for the market.
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The global market for chloromethane is getting ample boosted by the strategic steps taken by companies like
- Asahi Glass Co. Ltd. (Japan),
- The Dow Chemical Company (U.S),
- Alfa Aesar (U.S),
- AkzoNobel N.V.(Europe),
- Gujarat Alkalies
- Chemicals Ltd (India),
- INEOS Group (Europe),
- Occidental Chemical Corporation (U.S.),
- Solvay SA (Europe),
- Shin-Etsu Chemical Co.,
- Tokuyana Corporation (Japan),
These companies are making progress through various tactical moves that they are launching after a thorough analysis of factors and dynamics. Mergers, collaborations, innovations, rising investment for research and development, marketing strategies, acquisitions, and others are expected to be tools in providing the market with a much-needed boost. MRFR’s acknowledgment of these procedures in the latest report will help the market players in a better assessment of various procedures to increase the profit margin.
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In April 2020, Gujarat Alkalies & Chemicals (GACL) announced thee bourses that it they have started the partial production of poly aluminum chloride (PAC) and hydrogen peroxide plants at their Dahej complex and initiated the production of chloromethane & poly aluminum chloride (PAC) plants at their Vadodara complex. This is to satisfy the growing need for the same from various municipal corporations and other industries. The production started only after they received the necessary permission from the concerned authority. In a turbulent time, led by COVID-19 that resulted in various lockdowns across the country, this permission is showing how the market can move forward in the coming years.
MRFR’s recent take on the global Chloromethane Market can be assessed on the basis of a segmentation that includes types and applications as a major data provider. The segment is enriched with various analyses of dynamics and demographic challenges and they have been further bolstered by figures. This will help in a better reading of the strategic moves that can help in spurring the profit margin.
By types, the global reading of the chloromethane market has been segmented into various segments like carbon tetrachloride, methyl chloride, methylene chloride, and chloroform. The use of chloroform in the healthcare sector is vast.
By application, the global assessment of the chloromethane market can be segmented into chemical intermediate, pharmaceuticals, medical, silicone polymers, personal care, agrochemicals, and others. The intermediate chemical segment is providing substantial traction, but it is getting huge demand from the medical and pharmaceutical sectors.
The demographic challenges, as revealed in the report by MRFR, is showing Asia Pacific as a major traction provider for the global market. The regional leniency in various regulations opens up various prospects for the Asia Pacific market. China is evolving as a major producer of the chloromethane market. The rising boost from the construction industry, better intake of it as a paint removal component, and others can boost the market prospect. In Europe, the growth would lack the pace as several environmental concerns would hold back the easy upward movement of the market.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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