Methylene Chloride Market to Witnesses Significant Growth Due to Increasing Usage in Paints and Coatings Removal
Methylene chloride, also known as dichloromethane, is an organic compound widely used as a solvent in paint stripping and adhesive formulation. It is colorless, volatile, and non-flammable. Methylene chloride finds applications in a variety of industries such as automotive, aerospace, construction, furniture among others. It acts as an excellent solvent for removing finished paints and coatings from surfaces without harming the substrate. The growing construction and automotive refinishing activities have propelled the demand for paint strippers and thinners containing methylene chloride as a key ingredient.
The Global Methylene Chloride Market is estimated to be valued at US$ 1.44 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the methylene chloride market are Siemens Healthineers, Medtronic Inc., Omron Healthcare, Koninklijke Philips, Abbott Laboratories, Hologic Inc., General Electric (GE Healthcare), Fujifilm Holdings Corporation, Samsung Electronics Co. Ltd. (Samsung Healthcare), and Becton, Dickinson and Company, among others.
The key opportunities in the Methylene Chloride Market Trends include growing demand from emerging economies and focus on development of bio-based and greener alternatives. Manufacturers are investing in R&D to develop more environment-friendly and sustainable paint stripping formulations using plant-derived or other organic solvents to replace methylene chloride.
Technological advancements such as online stripper solutions are gaining traction in the market. These use photoacoustic spectroscopy or ultrasonic detection techniques to analyze the paint being stripped in real-time and determine the remaining film thickness without harming the substrate. This helps optimize the stripping process.
Market drivers
The major market driver for methylene chloride is the booming construction and automotive industries. There is increasing infrastructural development and repair & refurbishment activities taking place globally. This is propelling the demand for paints, coatings, and their removers. Furthermore, the strict environmental norms regarding vehicular emissions have boosted the automotive repair and refinishing industry, benefiting the methylene chloride market.
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