Chloromethanes Market To Exhibit Explosive Growth in Asia-Pacific in Coming Years
From $2,675.9 million in 2018, the global chloromethanes market is expected to reach a value of $3,286.9 million by 2024. According to the forecast of the market research organization, P&S Intelligence, the market will exhibit a CAGR of 3.4% from 2019 to 2024 (forecast period). The market is being driven by the surging production of solvents. As chloromethanes are being increasingly used as raw materials in the production of industrial solvents, the soaring requirement for solvents is fueling their demand across the world. Moreover, a large quantity of chloromethanes is processed for producing dimethyldichlorosilane and various associated organosilicon compounds. Dimethyldichlorosilane basically serves as a precursor to the silicones that are extensively used for producing medicines, sealants, adhesives, lubricants, and cooking utensils and also in electrical and thermal insulation. In addition, various other derivatives of chloromethane, such as trimethylsilyl chloride and methyl...