The Latin America, Middle East and Africa Chloromethane Market would witness market growth of 6.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 706.2 kilo tonnes, showcasing a growth of 6.9% (2023-2030).
The adoption of chloromethane varies across industries and is influenced by factors such as regulatory frameworks, economic conditions, and technological advancements. The chemical industry, particularly in regions with well-established manufacturing sectors, has been a significant adopter of chloromethane. The compound's role as a precursor in producing various chemicals positions it as a fundamental ingredient in many industrial processes. Moreover, the growing emphasis on sustainable practices has led to increased adoption of chloromethane in environmentally friendly applications.
Chloromethane's versatility is reflected in its diverse uses across multiple sectors, contributing to the functionality of various products and processes. In addition to its applications in silicone production, refrigeration, and agrochemicals, chloromethane synthesizes specialty chemicals and solvents. The pharmaceutical industry relies on chloromethane as a key ingredient in manufacturing various drugs, underscoring its significance in healthcare. Furthermore, chloromethane is utilized to produce methylcellulose, a compound with applications in the construction and food industries. Methyl cellulose is a thickening agent in food products and a binder in construction materials, showcasing the compound's adaptability across different sectors.
According to the International Trade Administration, in 2020, Saudi Arabia accounted for nearly 52% of all vehicles sold in the Gulf Cooperation Council (GCC) and 35% in the MENA region. In Saudi Arabia, 556,000 vehicles were sold in 2019 and 436,000 in 2020. Sales are anticipated to reach 543,000 units by 2025, with only 32,000 units being electric vehicles. The factors mentioned above will drive the regional market growth.
The Brazil market dominated the LAMEA Chloromethane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $182.1 Million by 2030, growing at a CAGR of 5.6 % during the forecast period. The Argentina market is expected to witness a CAGR of 7.3% during (2023 - 2030). Additionally, The UAE market is expected to witness a CAGR of 6.4% during (2023 - 2030).
Based on End-use, the market is segmented into Pharmaceutical, Agrochemicals, Textile, Automotive, Construction, Paints & Coatings, Personal Care Products, Plastics & Rubber, and Others. Based on Product, the market is segmented into Methylene Chloride, Methyl Chloride, Chloroform, Carbon Tetrachloride, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Chloromethane Market is Projected to reach USD 7.7 Billion by 2030, at a CAGR of 4.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Asahi Kasei Corporation, Tokuyama Corporation, AGC Chemicals Pvt. Ltd, Gujarat Alkalies and Chemicals Ltd, Occidental Petroleum Cororation, AkzoNobel N.V., Shin-Etsu Chemical Co. Ltd, Solvay SA, INEOS Group Holdings S.A., The Dow Chemical Company.
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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