Business Expansion: Highly adopted strategy of Key Players to Remain Competitive in the Global Chloromethane Market

The global chloromethane market is anticipated to grow at a moderate CAGR during the forecast period (2020-2027). The business expansion strategies adopted by major market players to expand the business and production capacity are driving the chloromethane industry growth. 

Browse the full report description Global Chloromethane Market Size, Share & Trends Analysis Report by Application (Construction, Plastic & Rubber, Paint & Coatings, Pharmaceuticals, Personal Care Products, and Others) Forecast Period 2020-2027 at https://www.omrglobal.com/industry-reports/chloromethane-market

For instance, in March 2020, Gujarat Alkalies & Chemicals Ltd. had announced to expand its Anhydrous Aluminium Chloride (AAC) plant at Dahej in Gujarat. The total project cost of the plant was Rs. 35 crores (~$4.7 million), with a production capacity of 16,500 tonnes per annum. Through this production capacity expansion, the company aims at generating revenue of Rs. 65 crore (~$8.8 million). With this expansion, the total capacity of the AAC plant would be 42,420 TPA.

Furthermore, in July 2020, SRF Ltd. has set up a new plant at Dahej, Gujrat to expand the production capacity of their chloromethane plant by 1,00,000 tonnes per annum. The total projected cost of the plant is RS. 315 crores (~$42.4 million). Besides this, the production capacity of the plant would be increased by an extra 1,00,000 tonnes every year by January 2022, which was 95,000 tonnes earlier. Thus, the business expansion would promote the SRF Ltd. to increase production for better offering in chemical industries to generate more revenue. Such activities are expected to propel the demand for chloromethane in the market, and considerable growth can be expected in the market.

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- 

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- AGC Inc. (Asahi Glass Co. Ltd), AGC Chemicals Ltd., AkzoNobel N.V., Solvay S.A., Gujarat Alkalies and Chemicals Ltd., Dow Chemical Company, INEOS Group AG, SRF Ltd., and Others.

Key Questions Addressed by the Report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Chloromethane Market Segment

   By Application

• Construction
• Plastic & Rubber
• Paint & Coatings
• Pharmaceuticals
• Personal Care Products
• Others

Global Chloromethane Market Segment by Region