The Global Methylene Chloride Market is forecast to reach USD 1,268.7 Million by 2028, according to a new report by Reports and Data. Methylene Chloride or dichloromethane is a colorless, volatile, nonflammable, slightly water-soluble industrial and commercial chemical with a slightly sweet odor. The latest research study published by Reports and Data titled Methylene Chloride market provides a thorough assessment of the market. As per the report, the Methylene Chloride market is expected to be valued at USD 1,268.7 Million by 2028 from USD 899.8 Million in 2020, growing at a CAGR of 4.3% through the forecast years. The report analyzes the historical and present-day scenario of the global Methylene Chloride market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the Methylene Chloride market, to identify the opportunistic avenues of the business potential for stakeholders. The report offers key insights into market share, market size, and market revenue growth for the forecast period 2021-2028.
Methylene chloride is mostly used as a solvent in the manufacturing of paint stripper, a metal degreaser, and paint thinner applications and is also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. Extraction solvent in the production of decaffeinated coffee, solvent in paints & coatings, and food coloring materials as fruit & vegetable marking chemicals are some of its chemical applications. Also, in the pharmaceuticals industries, it is used as a chemical reaction and purification agent and in the refrigerating industries as a feedstock for the manufacturing of HCFC 32 or R32 refrigerants. The continuous expansion of the paint & coatings, cleaning agents, adhesives, degreasers, and food coloring agents are expected to drive the demand throughout the forecast period.
The materials and the chemical market is rapidly expanding in terms of revenue in recent years and over the forecast period owing to increasing demand for raw materials and chemicals for various industrial applications such as paper and paint, food and beverages, healthcare and pharmaceutical, manufacturing, construction, and agriculture. Revenue growth of the global Methylene Chloride markets is attributed to factors such as rapid industrialization and urbanization, increasing awareness about green energy, rising inclination towards eco-friendly and biodegradable products, and rising presence for packaged food. In addition, increasing investments in research and development activities, rising disposable income, and increasing demand for products such as soaps, detergents, perfumes for daily usage are fueling the market growth.