Chloromethane Market: Business Diversification and Strategic Expansion – Key Market Strategies
Chloromethanes are being increasingly used for end-to-end applications in the pharmaceutical industry, and also for water treatment. Likewise, chloromethane molecules such as methyl chloride are being extensively used to produce construction material and agricultural products. The growing demand for methyl chloride is well justified, as the product is estimated for a revenue of ~US$ 2.4 billion by 2027; highest revenue in the chloromethane market.
Since most countries in Asia Pacific are developing economies, manufacturers should scale up their businesses in this region. Thus, market growth is catalyzed by the increasing number of water treatment plants in these developing economies. Due to population growth and the growing demand for clean water, manufacturers in the chloromethane market are producing methyl chloride polymers that are universally and categorically used in water treatment plants.
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Manufacturers in the chloromethane market are devising strategic expansions in Europe. For instance, in April 2019, Nouryon – a producer of specialty chemicals, announced that the company is planning to start work on chloromethanes in Germany. Thus, manufacturers are executing plans to boost their production by introducing new equipment and upgrades that help to significantly increase the capacity of molecules for the development of high-quality products.
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Maintenance of Steady Supply Chain Results in Long-term Returns
Established companies in the chloromethane market are scaling the extra mile to gain a competitive edge over each other. These efforts include expanding their manufacturing plants in high-growth regions, while continuing to work in existing installations to maintain a steady supply chain to various end markets. Manufacturers in the chloromethane market can ensure long-term and profitable returns by working closely with stakeholders in the healthcare ecosystem. This is because they can provide their products to pharmaceutical customers through a special pipeline process.
Manufacturers in the chloromethane landscape are investing in automated processes to enhance their production capabilities. By eliminating the manual intervention of pumps and valves, manufacturers are aiming to make production a safe process, and take this opportunity to customize their process according to the varying demands in the market.
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Chloromethane Manufacturers Expand Business in Silicone Manufacturing
The chloromethane market is highly fragmented. This is evident because in 2018, the chloromethane market was dominated by emerging players holding a ~71% market share, whereas, ~29% of the holdings were accounted for by major players in the landscape.
Since the chloromethane market is relatively easy to enter for emerging market players, manufacturers are expanding their business by teaming up with stakeholders in the silicone manufacturing space. Silicone manufacturing accounts for the highest production in the chloromethane market, with an estimated output of ~3,151,000 tons by the year 2027. Thus, major credit for the market’s expansion in the coming years can be credited to the high use of silicone in biocompatible and medical applications.
However, manufacturers in the chloromethane landscape find it challenging to obtain good quality elemental silicon that is used as a synthetic substance in microfluidics, breast implants, contact lenses, and the like. Hence, they are improving their production processes to efficiently execute synthesizing and distilling silane intermediaries to develop high-quality products.
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