Global Chlorobenzene Market Report, published by Variant Market Research, forecast that the global market is expected to reach $2,942 Million by 2024 from $1,870 Million in 2016; growing at a CAGR of 5.8% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 6.2% and 5.6%, respectively, during the forecast period. In terms of volume the market is projected to reach 2,201 Kilo tons by 2024, at a CAGR of 4.2% from 2016 – 2024
Chlorobenzene Market (By Type: Monochlorobenzene, Orthodichlorobenzene, Paradichlorobenzene, and Other Types; By Application: Nitrochlorobenzene, Polysulfone Polymers, Solvents, Polyphenylene Sulfide Resin, Room Deodorants, Moth Control, and Other Applications; By Geography: North America, Europe, Asia-Pacific, and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
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Chlorobenzene, also known as phenyl chloride or benzene chloride, is an aromatic, colorless, flammable liquid organic compound that is commonly used as solvent and also as intermediate for the manufacturing of other chemicals. It is produced by the chlorination of benzene in the presence of a catalyst and acids. These are commonly used in the manufacturing of various insecticides, pesticides and other chemicals and also used as degreasers, deodorizers, herbicides and fumigants.
Rising demand for chlorobenzene in chemical industry drives the global chlorobenzene market
The global chlorobenzene market is majorly driven by rising demand for chlorobenzene in chemical industry for the production of other chemicals and compounds. Similarly, increasing use as deodorants have created huge demands for the product in the personal care industry. However, presence of safer alternatives, and environmental problems related with the use of these product as herbicides and pesticides would act as a major restrain for the market growth. Besides, high volatility of the compound provides several prospects for its usage as an intermediate in various other reactions.
Global Chlorobenzene Market, by Type
The global chlorobenzene market is mainly classified as type, application, and geography. Type segment includes monochlorobenzene, orthodichlorobenzene, paradichlorobenzene, and other types. While, application segment comprises nitrochlorobenzene, polysulfone polymers, solvents, polyphenylene sulfide resin, room deodorants, moth control, and other applications. Based on geography, the global chlorobenzene market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Monochlorobenzene held the largest market share in type segment
Monochlorobenzene dominated the type segment with the largest market share in 2016, and is expected to continue its dominance throughout the forecast period i.e. 2016 – 2024. The high growth is attributed due to its wide application in dyeing and pharmaceutical industry for the manufacture of organic intermediates such as nitro-chlorobenzene, phenol, aniline, and nitrophenol.
Nitrochlorobenzene dominated the application segment
Nitrochlorobenzene accounted for around one third of the total market share in application segment in the year 2016, owing to its extensive applications in automotive and construction industries, and its used as an intermediate for chemicals to manufacture dyes, fertilizers, paints, and coatings.
Asia-Pacific generated the highest revenue in the global chlorobenzene market
GLOBAL CHLOROBENZENE MARKET SHARE BY GEOGRAPHY, 2016 (%)
In 2016, Asia-Pacific occupied the supreme market share with 77.4% of the total share, and is expected to continue this trend during the forecast period 2016 – 2024, driven by high demand for chlorobenzene in the countries such as China, India, and Japan. Also, APAC region have a rising demand for personal care products, pharmaceuticals, chemicals, hence resulting in high consumption of chlorobenzene.
The key players operating in the market are Beckmann-Kenko GmbH, Cambridge Isotope Laboratories, Inc., Alfa Chemistry, Gl Sciences Inc., Chemada, Hindustan Organics Chemicals Limited, Meryer (Shanghai) Chemical Technology Co. Ltd., Fluorochem Ltd., Wako Pure Chemical Industries, Ltd., and Hbcchem, Inc., among