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| Methylene Chloride Market |
Paragraph: Methylene chloride, also known as dichloromethane, is an organic compound widely used as a solvent in paints strippers and adhesive removers due to its ability to dissolve grease, oils and synthetic resins. It is highly volatile, colorless, sweet-smelling and chlorinated hydrocarbon that evaporates quickly. The global methylene chloride market is driven by its increasing demand in various end use industries like automotive, construction and electronics. The global Methylene Chloride Market is estimated to be valued at US$ 1.25 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The increase in the usage of methylene chloride in paints
and coatings industry is one of the key trends driving the market growth.
Methylene chloride is used as a solvent in paint strippers and its ability to
rapidly dissolve various coatings without damage to the substrate has increased
its adoption in paints and coatings industry. Its excellent solvency property
makes it suitable for thinning paints and clean up of painting equipment. The
expanding construction and automotive industries globally has augmented the
demand for paints and coatings which in turn is propelling the consumption of
methylene chloride.
Segment Analysis
The global methylene chloride market can be segmented based on application as
paint strippers, pharmaceutical manufacturing, chemical processing, and others.
The chemical processing sub-segment currently dominates the market and is
expected to witness significant growth during the forecast period. Methylene
chloride is widely used as an intermediate in chemical processing industries
for producing other chemicals. It acts as an excellent solvent for many
reactions and extracts.
Key Takeaways
The global Methylene
Chloride Market Growth is expected to witness high growth over the
forecast period owing to increasing demand from chemical processing industries.
The Asia Pacific region is expected to be the fastest growing as well as the
dominant regional market for methylene chloride. Expanding chemical industry in
countries like China and India is driving the market growth. Moreover,
increasing industrialization and presence of major methylene chloride producing
companies in the region is further fueling the market.
Key players operating in the methylene chloride market are Dow Chemical Company,
AkzoNobel N.V., Ineos Group, Solvay S.A., KEM ONE, Shin-Etsu Chemical Co. Ltd.,
Gujarat Alkalies & Chemicals Ltd., Tokuyama Corporation, Occidental
Petroleum Corporation, Ercros S.A. Dow Chemical Company is one of the largest
producers of methylene chloride globally. The company offers a wide range of
methylene chloride products for various applications including chemical
processing.
For more insights, read- https://www.ukwebwire.com/methylene-chloride-market-trends-size-and-share-analysis/
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