NEW YORK - Dec. 30, 2020 - One of the major factors fuelling the surge in the sales of chloromethanes is their wide-scale usage as raw materials in the production of industrial solvents all over the world. Chloromethanes are highly sought after for use as solvents in the production of silicones, silicone caulk, silicone rubber, and silicone oil, which are later used in the production of lubricants, adhesives, sealants, medicine, thermal and electrical insulation, and cooking utensils. In addition to this, methyltrichlorosilane and trimethylsilyl chloride produced from chloromethanes are used as solvents in the manufacturing of butyl rubber and petroleum refining.
The burgeoning usage of chloromethanes and the flourishing pharmaceuticals industry in many countries are the other major factors boosting the demand for these chemicals throughout the world. Due to these factors, the revenue generated from the worldwide sales of chloromethanes is predicted to rise from $2,675.9 million to $3,286.9 million from 2018 to 2024. The global chloromethanes market is expected to advance at a CAGR of 3.4% during the forecast period (2019—2024).
Geographically, the chloromethanes market (https://www.psmarketresearch.com/market-analysis/chlorome...) is predicted to register the fastest growth, in terms of value, in the Asia-Pacific (APAC) region during the forecast period. This is mainly ascribed to the high utilization and production of chloromethanes in China. In APAC, China is currently observing the highest demand for chloromethanes, on account of the large-scale production of different types of chemicals, pharmaceuticals, and agrochemicals in the country. Moreover, the country is one of the largest producers of various chemicals and pharmaceuticals across the world.
Therefore, it can be safely said that the sales of chloromethanes will boom all around the world in the forthcoming years, on account of the increasing requirement of these chemicals in the production of various solvents, chemicals, and pharmaceuticals throughout the world.
Contact
Vijay Kumar
