Methylene chloride is an organic compound with the formula CH2Cl2. It is a colorless, volatile liquid with a moderately sweet aroma. Methylene chloride is also known as dichloromethane (DCM) and are widely used as a solvent.
The major trend witnessed in the global methylene chloride market in recent years is the increasing production of methylene chloride in the APAC region. Producers are shifting their base to APAC owing to stringent environmental rules and regulations laid down by the governments of various countries in other regions, particularly Europe, banning the use of methylene chloride in paint striper application. Additionally, India and China are among the largest consumers of methylene chloride. Due to small-scale domestic production, India mostly imports the material to meet its consumer demand. China, on the other hand, does not import the material in large quantities because of the sufficient local supply of the material to meet the domestic demand. China, Taiwan, and Japan are among the major suppliers of methylene chloride to Southeast Asia.
Methylene chloride is used as a key solvent in paint and adhesive formulations, owing to its strong dissolving strength, low flammability, and quick drying properties. Construction and automobile industries are the major end users of paints and adhesives. Due to the large-scale development of construction projects, such as bridges, buildings, and industrial facilities, across various parts of the world, the demand for paints and adhesives has increased substantially. Also, the rapid increase in the sale of automobiles in developing nations has resulted in the increased demand for adhesives and paints. The growth in the demand for paint and adhesives is expected to encourage the market growth of methylene chloride in the coming years.
Some of the major players in the methylene chloride industry are Eastman Chemical Company, Akzo Nobel N.V, KEM ONE, Asahi Glass Co. Ltd., INEOS Group Holding S.A, Olin Corporation,Shin-Etsu Chemical Co. Ltd., Occidental Petroleum Corporation, LOTTE Fine Chemical and PJSC Khimprom.
