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Publishing News and Press Releases

Chlorobenzene Market Size Expected to Valued at $3,328.9 Million by 2027

(Publishing-NewsWire.com, April 14, 2022 ) Chlorobenzene Market size is expected to be valued at US$3,328.9 million by the end of the year 2027 and the Chlorobenzene industry is set to grow at a CAGR of 5.8% during the forecast period from 2022-2027. Chlorobenzene, also called as phenyl chloride or benzene chloride, is an aromatic organic compound, usually produced by ferric chloride, sulfur chloride, and anhydrous aluminum chloride. Chlorobenzene is used as intermediaries in production of chemical-based products such as pigments, dyes, herbicides, pesticide, degreasing agents and others. It is also used as solvents in the manufacture of oil cleaners, adhesives, waxes, paints, paint removers, polishes and others. Polyphenylene sulfide (PPS), a semi-crystalline polymer manufactured by chlorobenzene, is widely used in the textile industry for coatings and fabric, due to its high resistance to temperature, thermal shock and chemicals. Chlorobenzene is also used in dichlorodiphenyltrichloroethane which is used for producing agrochemicals. The increasing application in various end-use industries like pharmaceutical, textile, agriculture, proteomics research and others is highly driving the Chlorobenzene market.



COVID-19 impact

Amid the Covid-19 pandemic, the chlorobenzene market saw a considerable amount of growth due to the increase in demand from the pharmaceutical industry. Chlorobenzene is used is an active pharmaceutical ingredient used in the manufacture of various medicines. The demand for chlorobenzene however decreased from the other end-use industries such as textile industry, agriculture industry, paints and coating industries and others, due to the economic restrictions around the globe. Although the demand from many key-use industries decreased, the demand from the pharmaceutical industry boosted the sales of chlorobenzene during the year 2020. The chlorobenzene market is also estimated to gradually grow during the year 2021.



Chlorobenzene Market Segment Analysis – By Type



Monochlorobenzene held the largest share of 34% in the Chlorobenzene market in the year 2021. The increase in demand for monochlorobenzene can be attributed to the increasing demand from the manufacture of diphenyl oxide and nitrochlorobenzene, which has a wide range of applications such as chemicals in rubber processing, pesticide, resins dyes and pigment intermediates among others. Monochlorobenzene is also used in specialty chemicals and further used for various applications such as ether & phenylphenols, Sulfone polymers nitrochlorobenzene, Diphenol and Solvents. The increase in year-on-year growth of industries such as pesticide and pharmaceutical industry is driving the Monochlorobenzene segment in the Chlorobenzene market.



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Chlorobenzene Market Segment Analysis – By Grade



Industrial grade segment held the largest share of 45% in the Chlorobenzene market in the year 2021. Industrial grade is used in various key-use industries such as dyes, pigments, specialty chemicals, pesticide, herbicides and others. This is highly driving the industrial grade chlorobenzene. Industrial grade chlorobenzene is used as solvents in various industrial applications such as paints, coatings, adhesives, sealants, polishes, waxes and other such industrial products. The growth of end-use industries using such applications is one of the significant factors driving the Chlorobenzene market.



Chlorobenzene Market Segment Analysis – By Application



Solvents segment held the largest share of 30% in the Chlorobenzene market in the year 2021. Solvents are extensively used in the production of pesticide formulations, adhesives, sealants, polishes, paints, abrasives coatings and others. Cholorobenzene has high boiling temperature and gets easily evaporated in air without leaving behind any trace, and is used as intermediaries in the production of various chemicals. It can also be used for degreasing automobile parts. This is highly driving the use of cholorobenzene in the solvents segments, which is further increasing the growth of solvents in the cholorobenzene market.



Chlorobenzene Market Segment Analysis – By End-Use Industry



Pharmaceutical industry held the largest share growing at a CAGR of 10.7% in the Chlorobenzene market in the year 2021. The increasing use of cholorobenzene as Active Pharmaceutical Ingredients in the pharmaceutical industry is one of the significant factors driving the use of cholorobenzene in the pharmaceutical sector. Furthermore, cholorobenzene is also used as an antioxidant gum additive in the pharmaceutical sector and in proteomics research. According to preclinical, a healthcare related service provider, the global pharmaceutical industry will grow by 29% to reach a market value of US$1.43 billion in the year 2020. This is majorly driving the pharmaceutical industry segment in the cholorobenzene market, as cholorobenzene is extensively used in the production of various medicines and other specialty chemicals used in the pharmaceutical industry.



Chlorobenzene Market Segment Analysis – By Geography



Asia-Pacific region held the largest share of 41% in the Chlorobenzene market in the year 2021. The rapid growth in the population in countries like India and China coupled with the countries’ high dependence on agriculture, which eventually results in high demand for pesticide and herbicides is highly driving the cholorobenzene market. Furthermore, the presence of various major industry players in the region is contributing to the growth of the cholorobenzene industry in APAC. The vast base of end-user industries such as pharmaceuticals, dyes & pigments, pesticide and other organic chemicals is one of the significant factors driving the chlorobenzene market. The pharmaceutical industry in the APAC region, especially in India is one of the major factors driving the chlorobenzene market in the region. India is the third largest producer of pharmaceuticals across the globe and has the maximum number of FDA approved plants outside of the United States. According to IBEF, the pharmaceutical industry in India is estimated to be around US$41 billion by the end of 2021. Furthermore, the investments in the pharmaceutical industry in India stood at USS17.5 billion in the year 2020 and the Indian government further announced an incentive scheme in February 2021 which will attract investments of US$2.07 billion into the sector. This will majorly impact the cholorobenzene market in the region.



Chlorobenzene Market Drivers



Increase in the demand from textile industry



The increase in demand for cholorobenzene in textile industry for the production of dyes and pigments is highly driving the cholorobenzene market. Cholorobenzene is used in the manufacture of dyes, inks, paint removers and pigments used in the fibre of the textile clothing. The growing textile industry across the globe is majorly impacting the growth of the cholorobenzene market in a positive way. For an instance, according to Euratex, the European apparel and textile confederation, the turnover of the European textile industry in the year 2019 was valued at US$181.99 billion and the exports of textile industry was valued at US$61 billion in the year 2019, an increase of 4.8% from the previous year. Furthermore, according to India Brand Equity Foundation (IBEF), the Indian textile industry contributed 7% to the industry output in the year 2019 and attracted an investment of US$1.44 billion under production linked incentive scheme for manmade fibre and technical textiles during the year 2020. This will drive the cholorobenzene market.



Increasing application in the Rubber Industry



The increasing demand for cholorobenzene from the rubber industry is one of the significant factors driving the cholorobenzene market. Cholorobenzene is used in chemicals for manufacturing diphenyl oxide and nitrochlorobenzene, which has wide applications in the production of rubber, polymers, resins and others. According to The Rubber Economist Ltd, the consumption of synthetic rubber in the year stood at 15,187,000 tonnes in the year 2019, an increase of 52.7% from the previous. The increase in the consumption and production of rubber is highly driving the cholorobenzene market, as cholorobenzene is used in the production of rubber and related products.



Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=17893



Chlorobenzene Market Challenges



Health related Issues from the Usage of Cholorobenzene



The detrimental effects associated with the usage of cholorobenzene such as hyperesthesia, muscle spasms, numbness and cyanosis. According to Environmental Protection Agency of the US government, cholorobenzene has both acute and chronic effects on human. Exposure to cholorobenzene causes side effects such as headaches and irritations. Chronic exposure of cholorobenzene in human is dangerous and detrimental to human health. This is one of the major challenges faced by the cholorobenzene market.



Chlorobenzene Market Industry Outlook



Facility expansion, production expansion, collaborations, partnerships, investments, acquisitions and mergers are some of the key strategies adopted by players in the Chlorobenzene Market. Major players in the Chlorobenzene Market are



Beckmann-Kenko GmbH



Applichem GmbH



Lanxess



Tianjin Bohai Chemical Industries



China Petrochemical Corporation



J&K Scientific Ltd



Jiangsu Yangnong Chemicals Group Co Ltd.



Meryer (Shanghai) Chemical Technology Co. Ltd.



PPG Industries, Inc.



Chemada Fine Chemicals



Kureha Corporation among others.



Recent Developments



On 3 February 2020, PPG Industries, Inc. acquired ICR, manufacturer of paints & coatings, putties, primers, basecoats, clear coats and others, the main product of raw material for these products being Chlorobenzene.



Key Takeaways



Asia-Pacific market held the largest share in the chlorobenzene market owing to the increase in demand from various key-use industries such as agriculture industry textile industry and pharmaceutical industry in countries like China, Japan and India.



The increase in the demand from the pharmaceutical industry, especially during the Covid-19 pandemic has led to the hike in the production and sales of Chlorobenzene



The increasing application of chlorobenzene in the textile industry for dyes and pigments is one of the significant factors driving the growth of the Chlorobenzene market.



Amid the Covid-19 pandemic, the Chlorobenzene market witnessed a considerable amount of growth owing to the increase in the use of chlorobenzene in the production of medicines.



Relevant Reports



A. Specialty Chemicals Market

https://www.industryarc.com/Research/Specialty-Chemicals-Market-Research-503104



B. Fine Chemicals Market

https://www.industryarc.com/Report/15895/fine-chemicals-market.html



For more Chemical and Materials related reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

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