The demand for methylene chloride is exploding all over the world, on account of its usage as a key solvent in various paint and adhesive formulations. Due to its low flammability, quick drying characteristics, and strong dissolving strength, methylene chloride is heavily used as a solvent in adhesive and paint formulations. With the mushrooming requirement for paints and adhesives, on account of the launch of various construction projects, the demand for methylene chloride is rising sharply across the world.
Methylene Chloride Market
Besides the aforementioned factor, the surging sales of automobiles, especially in the developing countries, are also pushing up the sales of paints and adhesives across the globe. This is, in turn, propelling the demand for methylene chloride all over the world, which is consequently driving the advancement of the global methylene chloride market, as per the observations of P&S Intelligence, a market research company based in India. Methylene chloride is basically an organic compound and has the formula- CH2Cl2.
It is a volatile and colorless liquid and has a moderately sweet aroma. This compound is also known as dichloromethane (DCM) and is used as a solvent in various paint removers. It is also extensively used as a degreasing agent in electronics manufacturing, an ethane foam blowing agent, and in aerosol formulations that are required for producing pharmaceuticals. The major application areas of the compound are food and beverages, metal cleaning, paints and varnishes, chemical and foam manufacturing, and pharmaceuticals.
The other major application areas of methylene chloride are photographic films, inks, and electronics. Out of these, the usage of the compound was found to be the highest in chemical and foam manufacturing processes during the past few years. This was because of the huge requirement for the compound in foam manufacturing and chemical processing processes, on account of its excellent blowing performance and large-scale usage in specialty chemical formulations.
Additionally, the compound is extensively used as a solvent in the chemical and material industry. Geographically, the methylene chloride market is currently registering the highest growth in Asia-Pacific (APAC). This is credited to the soaring population and rapid infrastructural advancement in this region. Moreover, the sales of methylene chloride are surging sharply in this region, on account of the emergence of new application areas of the compound, the rapid industrialization in the developing nations, and the expanding production base there.
One of the major trends currently being witnessed in the methylene chloride industry is the soaring production of the material in the Asia-Pacific region. Methylene chloride-producing companies are rapidly shifting their production facilities to the APAC region, because of the enactment of strict environmental regulations and rules by the governments of several European and North American countries. Additionally, China and India are two of the biggest consumers of methylene chloride.