LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global methylene chloride market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global methylene chloride market will grow at a CAGR of almost 5% during the forecast period. The high growth in the pharmaceuticals industry is a major factor driving the market’s growth.
The pharmaceutical industry is one of the top application industries for methylene chloride. Methylene chloride is used in the formation of various drugs and other pharmaceutical purposes. It is used as an extractant in drug recovery and purification of a wide variety of pharmaceutical materials. Due to the active solvent action of methylene chloride, it is used in the extraction of naturally occurring heat-sensitive substances such as fats, butter, caffeine, cocoa, hops, and in the extraction of pharmaceutically active natural products.
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In this report, Technavio highlights the use of methylene chloride as a blowing agent in place of fluorocarbons as one of the key emerging trends in the global market:
Use of methylene chloride as a blowing agent in place of fluorocarbons
Methylene chloride is used in the manufacturing of blown flexible foams. The water level in the concentration must be increased to produce flexible foams of extremely low density. This resulted in low density but hard foams. To overcome this disadvantage, manufacturers started using fluorocarbons. Lately, it has been noticed that methylene chloride has replaced fluorocarbons due to the problems associated with the processing of the fluorocarbons. Methylene chloride works as an auxiliary blowing agent. It volatilizes as the reaction supplies heat and then functions as a blowing agent. An auxiliary blowing agent does this entire processing even without entering the chemical reactions. Therefore, they result in the manufacturing of flexible foams that have low density and are soft in touch.
“In the recent years, the government has regulated the use of fluorocarbons. This is expected to attract the use of methylene chloride by manufacturers. Along with this, the cost-saving advantage added with the use of methylene chloride is anticipated to play a key role in the increasing demand for methylene chloride during the forecast period,” says a senior analyst at Technavio for research on specialty chemicals.
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Global methylene chloride market segmentation
This market research report segments the global methylene chloride market into the following applications (paint remover, pharmaceuticals, chemical processing, and metal cleaning) and key regions (the Americas, APAC, and EMEA).
The paint remover segment held the largest market share in 2017, accounting for over 32% of the market. This segment is expected to project steady growth during the forecast period.
APAC dominated the global methylene chloride market in 2017, accounting for a market share of more than 41%. It was followed by the Americas and EMEA respectively. The market share of the APAC region is anticipated to increase by nearly 2% by 2022.
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