The methylene chloride market is transitioning towards green
alternatives due to stringent regulations on the usage of harmful solvents.
Methylene chloride, also known as dichloromethane (DCM), is a volatile organic
compound widely used as a solvent and processing agent in various industries.
It effectively removes grease, oils, adhesives and waxes. However, prolonged
exposure can cause harm to the central nervous system in humans.
The global
methylene chloride market is estimated to be valued at US$ 1.44 Bn in 2024 and
is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the methylene chloride market are Siemens
Healthineers, Medtronic Inc., Omron Healthcare, Koninklijke Philips, Abbott
Laboratories, Hologic Inc., General Electric (GE Healthcare), Fujifilm Holdings
Corporation, Samsung Electronics Co. Ltd. (Samsung Healthcare), and Becton,
Dickinson and Company, among others. With government regulations tightening on
usage of methylene chloride, key players are investing in development of
alternative chemicals and technologies.
The
Methylene
Chloride Market Trends is experiencing steady growth from paints &
coatings industry where it is used as a paint stripper and cleaning agent.
However, stringent regulations have led to development of alternative coating
removal methods such as steam or laser stripping.
Globally, North America dominates the market due to established manufacturing
base of automotive, chemicals and construction industries. However, Asia
Pacific is emerging as a major market driven by growth of end use industries in
countries such as China and India. Key global players are expanding their
presence through acquisition of local players and opening new production plants.
Market Key Trends
One of the key trends in methylene chloride market is shift towards alternative
solvents. Stringent regulations imposed by EPA on usage of methylene chloride
has led key players to invest in development of greener substitutes. Some of
the alternatives gaining adoption include dimethylacetamide (DMAC), dimethyl
sulfoxide (DMSO), and N-methylpyrrolidone (NMP) which offer similar performance
without harmful effects. The search for environment-friendly substitutes
aligned with sustainability goals will continue to shape the future direction
of this market.
Porter’s
Analysis
Threat of new entrants: The methylene chloride market
requires high initial investments and established distribution channels. These
barriers make it difficult for new companies to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power. Buyers can
choose from various suppliers and switching costs are low.
Bargaining power of suppliers: Suppliers have moderate to
high bargaining power. Few companies are engaged in methylene chloride
production globally.
Threat of new substitutes: Substitute products like acetone
and chloroform exist but methylene chloride is still preferred for its unique
chemical properties in many applications.
Competitive rivalry: The market is consolidated with major players
differentiating through quality, branding and customer service.
Geographical regions with the highest market share in terms of value include
North America and Europe. Both regions account for over 60% of the global
methylene chloride market led by developed countries like the US, Germany, and
the UK.
The Asia Pacific region is expected to be the fastest growing market for
methylene chloride between 2024-2031 rising at a CAGR of over 12%. Rapid industrialization
and infrastructure growth in countries like China and India are driving
increased demand from paints, coatings, and electronics manufacturing
industries in the region.
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Insights on-
Methylene Chloride Market
About
Author:
Ravina
Pandya, Content
Writer, has a strong foothold in the market research industry. She specializes
in writing well-researched articles from different industries, including food
and beverages, information and technology, healthcare, chemical and materials,
etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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