Methylene Chloride Market to be driven by Growth of Paints and Coatings industry: Transparency Market Research

Methylene Chloride, also called dichloromethane (DCM), has diverse applications owing to its high solvent capacity. It acts as an extraction agent and a solvent for products such as lubricants, oils, cellulose ester, waxes, caffeine, and others. Hence, the methylene chloride market observes demand from industries such as metal-working, leather, textiles, paints and coatings, food processing, and pharmaceuticals.

Methylene chloride is also commonly used in paint strippers, degreasers, and in removal-agent formulations for the manufacturing of polyurethane foam. It is also well-known as a highly efficient propellant component in sprays. Due to the highly volatile nature of methylene chloride, particular caution during its handling and application is prescribed.

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Paints and Coatings Industry Continues to Support Methylene Chloride Market’s Growth

The paints and coatings industry has traditionally been a major source of revenue for the global methylene chloride industry. Used as a solvent for paints and coatings, methylene chloride has witnessed accelerating demand over the past years owing to the flourishing development of the global paints and coatings market. The lucrative construction and housing industry of Asia Pacific has especially supported the paints and coatings market, and subsequently the methylene chloride market, to register substantial growth in the last couple of years. The paints and coatings industry is projected to continue growing at a stable pace over the coming years, making growth prospects for the methylene chloride market vastly positive. The demand for methylene chloride from other end-use industries such as pharmaceuticals, textiles, and adhesives and sealants will also continue to drive the global methylene chloride market in the future.

However, the market’s growth could be hampered to a certain extent by the stringent regulations put in place by many government bodies regarding the proper use and disposal of methylene chloride owing to its carcinogenic properties.

Asia Pacific Market Surpasses Other Regional Markets Owing to Flourishing End-Use Industries

The global methylene chloride market can be segmented geographically into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America markets. Of these, the market for methylene chloride gains a major share of its revenues from the Asia Pacific market. The flourishing industrial sector of Asia Pacific has helped revive the businesses of a number of solvents of late. The heavy use of methylene chloride as a solvent in industries such as paints and coatings, textiles, adhesives and sealants, and pharmaceuticals, will aid the market to flourish in Asia Pacific. In the year 2012, China registered the highest demand for methylene chloride owing to high demand for paint stripper and degreaser applications. The demand for methylene chloride is expected to exhibit the highest growth in India in the near future, while the marker is projected to see stable demand from Southeast Asia and countries such as South Korea and Japan.

The demand for paints and coatings in mature markets such as United States, Europe, and Japan increases with the development of industries such as transportation, construction, and housing and as per the health of economy. The development of these industries subsequently affects the development of the methylene chloride market. In Japan, however, no major growth in markets such as automotive, machinery and appliances will lead to slow growth of the methylene chloride market in the country.

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