Global Methylene Dichloride(MDC) Market Trends, Size, Growth, Revenue Status and Forecast 2018-2023
The global Methylene Dichloride (MDC) market is expected to witness significant growth over the forecast period. This growth can be attributed to a growing demand for paint strippers and its use as a solvent in various industries, such as pharmaceuticals, adhesives, textiles, and plastics. The market is expected to reach USD 1.42 billion by 2023 at a CAGR of 5.6% during the forecast period (2018-2023).
Methylene Dichloride is a colorless, volatile, and non-flammable liquid with a sweet odor. It is also known as dichloromethane, and it is used as a solvent in various industries. MDC is used in paint strippers, degreasers, adhesives, and aerosol sprays. It is also used in the manufacturing of various products, such as pharmaceuticals, film coatings, and plastics.
The increasing demand for Methylene Dichloride in the paint stripper industry is driving the market growth. It is widely used as a solvent in paint strippers due to its ability to dissolve various paints and coatings. Moreover, the rising demand for MDC in the pharmaceutical industry as a solvent, specifically for the extraction of active ingredients, is fueling the growth of the market.
The growing textile industry, coupled with the increasing demand for MDC-based adhesives, is also driving the market. Additionally, the use of MDC in the production of polyurethane foam is expected to boost the market growth. However, the harmful effects of MDC on human health, coupled with the stringent government regulations on the use of toxic chemicals, are anticipated to hinder the growth of the market.
Ningbo Jinlai Chemical Co., Ltd. is a leading manufacturer of Methylene Dichloride and other quality products, including 50,000 t/a of 3-Chloro-2-methylpropene (MAC), 28,000 t/a of 2-Methyl-2-propen-1-ol (MAOH), 8,000 t/a of Sodium methallyl sulfonate (SMAS), 5,000 t/a of acrylic fiber oils and 2,000 t/a of polyimide fiber oils, etc.
In conclusion, the global Methylene Dichloride market is witnessing significant growth due to its use as a solvent in various industries. The increasing demand for MDC in the paint stripper industry, the pharmaceutical industry, and the production of polyurethane foam, coupled with the growing textile industry, is expected to fuel the market growth. Moreover, the leading manufacturer, Ningbo Jinlai Chemical Co., Ltd., is producing high-quality Methylene Dichloride and other products, which are contributing to the growth of the market. However, the harmful effects of MDC on human health, coupled with the stringent government regulations on the use of toxic chemicals, are anticipated to hinder the growth of the market in the coming years.