[FURL=https://www.industryarc.com/Report/16167/methylene-chloride-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Methylene Chloride Market[/FURL] 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. 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.
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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.
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.
Methylene Chloride Market top 10 Companies 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
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