by Methylene chloride, also known as dichloromethane, is a colorless, volatile liquid that is widely used as a solvent in paint strippers, adhesive removers, aerosol products, and cleaning agents. It is valued for its ability to dissolve oils, greases, and gums quickly and is widely used in metal cleaning and degreasing applications.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of methylene chloride in paint strippers and cleaning agents has been a key driver of market growth over the past few years. Methylene chloride breaks down dirt, grease, and grime quickly and is valued for its degreasing properties. It is widely used as an ingredient in commercial and consumer grade paint strippers, adhesive removers, brake cleaners, and metal degreasers. The compound’s effectiveness and low production costs have boosted its popularity in cleaning agents. Furthermore, its volatility allows the compound to evaporate quickly without leaving residues, making it suitable for precision cleaning applications in electronics and medical devices manufacturing. Strong demand from the cleaning and degreasing segments is expected to accelerate market growth over the forecast period.
Segment Analysis
The methylene chloride market is dominated by the paints and coatings sub-segment. Methylene chloride is widely used as a solvent in paint strippers and adhesive removers owing to its excellent solvency properties. It easily dissolves lacquers, varnishes, and contact adhesives. As the building and construction industry continues to grow steadily, the demand for paints and coatings is also witnessing a rise, thereby driving the methylene chloride market.
Key Takeaways
The global methylene chloride market is expected to witness high growth over the forecast period of 2023 to 2030.
Global Methylene Chloride Market Size is estimated to be valued at US$ 1.25 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region currently dominates the global methylene chloride market and is expected to maintain its leading position during the forecast period as well. This can be attributed to the massive growth of the construction and automotive industries in China, India, Japan, and other emerging Asian countries. The growing population and rapid urbanization are positively influencing the demand for methylene chloride in the paints, coatings, and adhesives applications.
Key players
Key players operating in the methylene chloride market are Dow Chemical, AkzoNobel, Shin-Etsu Chemical Co. Ltd., Occidental Petroleum Corporation, Ecolab, Kem One, SRF Limited, and Gujarat Alkalies and Chemicals Ltd. Dow Chemical is one of the largest producers of methylene chloride globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
