Dichloromethane Market Size splits by Region and Segment, Upcoming Trends, Growth Forecast to 2028

Dichloromethane Market Size – USD 899.8 Million in 2020, Growth - CAGR of 4.3%, Trends – Increase in demand for Dichloromethane in the paints & coatings applications.

Increasing demand for Dichloromethane in the online retailing business, coupled with high investments in RD of Dichloromethane, are fueling the market growth.

Dichloromethane Market Size – USD 899.8 Million in 2020, Growth - CAGR of 4.3%, Trends – Increase in demand for Dichloromethane in the paints coatings applications.

The Global Dichloromethane Market is forecast to reach USD 1,268.7 Million by 2028, according to a new report by Reports and Data. The Dichloromethane or dichloromethane is a colorless, volatile, nonflammable, slightly water-soluble industrial and commercial chemical with a slight sweet odor. Dichloromethane is mostly used as a solvent in the manufacturing of paint stripper, metal degreaser and paint thinner applications and are 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 a 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.

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Top Companies: LCY Chemical Corp., ExxonMobil, Royal Dutch Shell PLC, Maruzen Petrochemicals, Arkema S.A, Celanese Corporation, Eastman Chemical Company, Petro China, Sasol Limited, and ISU Chemical.

Further Key Finding from the Report Suggestion:

  • Dichloromethane is a synthetic chemical compound to be used in the direct solvent and are widely used in the direct chemical formulations. Specialty coating, powder coating, waterborne coatings, inks, varnishes, lacquers, and direct extraction agents in the decaffeinated coffee are some of its end-use applications. The direct solvent is forecasted to reach a market share of 52.6% by 2028 growing with a rate of 5.6% during the period 2019 – 2028.
  • Chemical intermediate segment is measured to grow at the CAGR of 5.2% in the forecast period. Dichloromethane is utilized as the active chemical organic intermediate in cleaning agents and adhesives manufacturing.
  • Growing penetration of online retailing businesses for chemicals and materials, especially in the emerging nations in Asia Pacific, are helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2028.
  • Europe would reach a market share of 20.5% by 2028 and would grow at a CAGR of 4.9% in the forecast period. Netherland and France have some of the valuable players in this region.
  • North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2028 and CAGR of 5.8% during the forecast period. US possesses the highest market share in this region and some of the vital player of the market.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Dichloromethane market is segmented into:

End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

  • Direct Solvent
  • Chemical Intermediate
  • Chemical Reagents
  • Others

Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

  • Online Retailing
  • Offline Retailing

Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

  • Paints Coatings
  • Rubber Adhesive
  • Chemical Pharmaceuticals
  • Food Packaging Flavoring
  • Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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