The growth of the Methylene Chloride Market will be mainly driven by the increasing product demand for cleaning applications and increasing use of it in the paint and adhesive industry. However, the proposed ban from Environmental Protection Agency (EPA) regarding the commercial and consumer use of methylene chloride as a paint stripper, is expected to impact the European and North American market in the coming years.
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On the basis of application, the methylene chloride market is segmented into pharmaceuticals, food and beverages, paints and varnishes, metal cleaning, chemical and foam manufacturing, and others. Chemical and foam manufacturing has been the leading application category, attributed to its growing demand due to its superior blowing performance and wide use in specialty chemical formulations.
Globally, Asia-Pacific has been recording the highest revenue in the methylene chloride market. This is attributed to the increasing population and infrastructural growth in the region. The demand of this compound as an auxiliary blowing agent is on the rise. It gives softer foam as compared to materials blown to the same density with water.
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Some of the major players in the methylene chloride industry are Akzo Nobel N.V, Eastman Chemical Company, Asahi Glass Co. Ltd., KEM ONE, Olin Corporation, INEOS Group Holding S.A, Occidental Petroleum Corporation, Shin-Etsu Chemical Co. Ltd., PJSC Khimprom, and LOTTE Fine Chemical.
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