USD 2.09 Billion
Global Chlorobenzene Market Size, Share, Growth Analysis, By Type(Monochlorobenzene, ortho dichlorobenzene), By Application(Nitrochlorobenzene, polysulfone) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2318 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
75
Global Chlorobenzene Market Insights
Chlorobenzene Market size was valued at USD 2.09 Billion in 2021 and is poised to grow from USD 2.20 Billion in 2022 to USD 3.30 Billion by 2030, at a CAGR of 5.2% during the forecast period (2023-2030).
The global chlorobenzene market has witnessed significant growth in recent years, driven by a wide range of applications across various industries. One of the key factors contributing to the growth of the global chlorobenzene market is the increasing demand from the pharmaceutical industry. Chlorobenzene is extensively used as a solvent in the manufacturing of various pharmaceutical products, including antibiotics, analgesics, and sedatives. The expanding healthcare sector and rising population have bolstered the demand for pharmaceuticals, thus driving the demand for chlorobenzene. Furthermore, the chemical industry's growth has also positively influenced the chlorobenzene market. The production of dyes, pigments, and rubber chemicals requires chlorobenzene as a key ingredient. With the rising demand for these products, the demand for chlorobenzene has also increased. Additionally, the growing agricultural sector has propelled the need for pesticides and insecticides, which extensively use chlorobenzene, further boosting the market growth. Despite the favourable market conditions, the global chlorobenzene market faces certain challenges. One of the significant challenges is the growing environmental concerns associated with chlorobenzene usage. Chlorobenzene is classified as a hazardous substance due to its toxicity and potential to cause harm to aquatic life. Strict regulations and environmental policies regarding the handling, storage, and disposal of chlorobenzene have imposed additional compliance burdens on manufacturers and end-users. Moreover, the availability of substitutes poses a challenge to the market growth. As environmental awareness increases, there is a growing preference for eco-friendly alternatives to chlorobenzene. Various substitutes, such as bio-based solvents and alternative chemical compounds, are being developed and adopted in different applications. This shift towards greener alternatives could potentially hinder the growth of the chlorobenzene market.
US Chlorobenzene Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Monochlorobenzene
Fastest Growth
Monochlorobenzene
Growth Rate
5.2% CAGR
Global Chlorobenzene Market ($ Bn)
Country Share for Asia-Pacific Region (%)
Global Chlorobenzene Market By Type ($ Bn)
Global Chlorobenzene Market By Type (%)
To get more reports on the above market click here to Buy The Report
Global Chlorobenzene Market Segmental Analysis
The global Chlorobenzene market is segmented on the basis of type, application, and region. By type, the market is segmented into monochlorobenzene, ortho dichlorobenzene, and paradichlorobenzene. By application, the market is segmented into nitrochlorobenzene, polysulfone, polymer, and solvent. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Chlorobenzene Market Analysis By Type
The global chlorobenzene market can be segmented by type into three main categories: monochlorobenzene, ortho dichlorobenzene, and paradichlorobenzene. Among these, monochlorobenzene is the dominant segment in terms of both market share and demand.
Monochlorobenzene, also known as chlorobenzene, holds a prominent position in the chlorobenzene market due to its wide range of applications. It is primarily used as a solvent in the production of various chemicals, including pesticides, dyes, and pharmaceuticals. The pharmaceutical industry, in particular, extensively utilises monochlorobenzene as a solvent in the manufacturing process of several medicines. The dominance of monochlorobenzene can be attributed to its versatility and compatibility with different industries.
On the other hand, ortho dichlorobenzene is the fastest-growing segment in the global chlorobenzene market. Ortho Dichlorobenzene is commonly used as a solvent for paints, varnishes, and coatings. Its excellent solvent properties, low volatility, and high boiling point make it ideal for these applications. Additionally, ortho dichlorobenzene is utilised as a heat transfer fluid in various industrial processes. The increasing demand for paints, coatings, and heat transfer fluids across industries such as construction, automotive, and electronics has led to the rapid growth of the ortho dichlorobenzene segment.
Chlorobenzene Market Analysis By Application
The global chlorobenzene market can be segmented by application into four main categories: nitrochlorobenzene, polysulfone, polymer, and solvent. Among these, the dominant segment in terms of both market share and demand is the solvent application.
Chlorobenzene is widely used as a solvent in various industries due to its excellent solvent properties. It is particularly favoured in applications where a stable and effective solvent is required, such as in the production of pesticides, dyes, pharmaceuticals, and rubber chemicals. The versatility of chlorobenzene as a solvent makes it a preferred choice for many manufacturing processes, driving its dominance in the market.
The fastest-growing segment in the global chlorobenzene market is the polymer application. Chlorobenzene is utilised in the production of various polymers, including polycarbonate, polystyrene, and polyurethane. These polymers find extensive use in industries such as automotive, construction, packaging, and electronics. The growing demand for lightweight and durable materials in these sectors has contributed to the increased usage of chlorobenzene in polymer production, leading to the rapid growth of this segment.
Global Chlorobenzene Market By Type, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Chlorobenzene Market Regional Insights
Asia-Pacific accounts for a significant share of the global chlorobenzene market. The region's dominance can be attributed to the presence of major manufacturing hubs, such as China and India, which have a strong demand for chlorobenzene across various industries. The flourishing pharmaceutical, chemical, and agricultural sectors in these countries drive the demand for chlorobenzene as a key ingredient in the production of pharmaceuticals, dyes, pesticides, and other chemicals. Additionally, rapid urbanisation and industrialization in the region further fuel the market growth.
On the other hand, Latin America is expected to witness the fastest growth in the chlorobenzene market. The region is experiencing increased industrial activities, particularly in sectors such as chemicals, paints and coatings, and agriculture. These industries rely on chlorobenzene for applications such as solvent-based formulations, pesticides, and other chemical compounds. The growing population, rising disposable income, and expanding construction and automotive sectors in Latin America are driving the demand for chlorobenzene, making it the fastest-growing region in the market.
Global Chlorobenzene Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Chlorobenzene Market Dynamics
Chlorobenzene Market Drivers
Expansion of Chemical Industry
- The chemical industry plays a vital role in the chlorobenzene market, utilising it as a key ingredient in the production of dyes, pigments, rubber chemicals, and other chemical compounds. The growth of the chemical industry, driven by factors such as industrialization, infrastructure development, and the demand for consumer goods, fuels the demand for chlorobenzene.
Agricultural Sector Growth
- The agricultural sector relies on pesticides and insecticides, which use chlorobenzene as a primary component. As global food demand continues to rise, the need for effective pest control and crop protection solutions increases, leading to increased demand for chlorobenzene-based pesticides.
Chlorobenzene Market Restraints
Availability of Substitutes
- The market for chlorobenzene faces competition from eco-friendly and safer alternatives. Various bio-based solvents, as well as alternative chemical compounds, are being developed and adopted in different industries as substitutes for chlorobenzene. The availability of such substitutes can hinder the growth of the chlorobenzene market.
Volatility in Raw Material Prices
- The chlorobenzene market is influenced by the prices of its raw materials, primarily benzene. Fluctuations in the prices of benzene, which is derived from crude oil or other feedstocks, can impact the production cost of chlorobenzene and, in turn, affect the market dynamics.
Request Free Customization of this report to help us to meet your business objectives.
Global Chlorobenzene Market Competitive Landscape
The global chlorobenzene market features a competitive landscape with several players striving to capture market share and meet the growing demand for chlorobenzene. The market is characterised by a mix of multinational corporations, regional players, and niche manufacturers. These companies compete based on factors such as product quality, pricing, distribution networks, and technological advancements. Intense competition in the chlorobenzene market drives companies to focus on innovation and research and development activities to enhance their product offerings and meet customer requirements. Companies also strive to establish strategic partnerships and collaborations to strengthen their market presence and expand their geographical reach. Market players in the chlorobenzene industry closely monitor market trends and dynamics to stay competitive and adapt their strategies accordingly. They also aim to comply with stringent regulations and maintain high standards of safety and environmental sustainability in their operations. The global chlorobenzene market is witnessing advancements in technology and process optimization, enabling companies to enhance their production efficiency and reduce costs. Additionally, market players are investing in sustainable practices and exploring greener alternatives to chlorobenzene to address environmental concerns and meet evolving consumer preferences.
Chlorobenzene Market Top Player’s Company Profile
- Dow Chemical Company - US
- BASF SE - Germany
- PPG Industries, Inc. - US
- Mitsui Chemicals, Inc. - Japan
- LG Chem Ltd. - South Korea
- Sinopec Corporation - China
- Eastman Chemical Company - US
- Huntsman Corporation - US
- Toray Industries, Inc. - Japan
- Formosa Plastics Corporation - Taiwan
- Mitsuboshi Chemical Co., Ltd. - Japan
- Nippon Steel Chemical Co., Ltd. - Japan
- Tianjin Bohai Chemical Industry Group Corporation Ltd. - China
- Gujarat Alkalies and Chemicals Limited - India
- Jiangsu Yangnong Chemical Group Co., Ltd. - China
- Nanjing Redsun Co., Ltd. - China
- Changzhou Guangming Chemicals Co., Ltd. - China
- Jiangsu Hongxing Chemical Co., Ltd. - China
- Anhui Bayi Chemical Industry Co., Ltd. - China
- Hebei Wanda Chemical Industry Co., Ltd. - China
Chlorobenzene Market Recent Developments
- In January 2023, The Chinese government announced plans to invest in the development of new chlorobenzene production facilities. This is expected to boost the growth of the market in China.
- In February 2023, The Indian government approved the construction of a new chlorobenzene production plant. This is expected to increase the availability of chlorobenzene in India and boost the growth of the market in the region.
Global Chlorobenzene Key Market Trends
- Shift towards Eco-friendly Alternatives: There is a growing trend towards adopting eco-friendly alternatives to chlorobenzene. Companies and industries are increasingly exploring bio-based solvents and alternative chemical compounds that have lower environmental impact and comply with stringent regulations. This trend is driven by the increasing focus on sustainability and environmental responsibility.
- Technological Advancements: The chlorobenzene market is witnessing technological advancements aimed at improving production processes, enhancing product quality, and increasing efficiency. Innovations in catalytic processes, reaction kinetics, and process optimization are being pursued to reduce production costs and enhance the overall competitiveness of chlorobenzene.
Global Chlorobenzene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global chlorobenzene market analysis, Asia-Pacific dominates the global chlorobenzene market, primarily due to the presence of major manufacturing hubs and the strong demand from industries such as pharmaceuticals and chemicals. Latin America, on the other hand, is the fastest-growing region, propelled by increased industrial activities and growing applications of chlorobenzene in various sectors. The global chlorobenzene market has experienced significant growth driven by its wide range of applications across various industries.
The market has been primarily fueled by the growing demand from the pharmaceutical, chemical, and agricultural sectors. Chlorobenzene's usage as a solvent in pharmaceutical manufacturing, as well as its incorporation into dyes, pigments, rubber chemicals, and pesticides, has propelled its market dominance. However, the market also faces challenges such as environmental concerns and the availability of substitutes. Strict regulations related to chlorobenzene's toxicity and environmental impact have imposed compliance burdens on manufacturers and end-users. Additionally, the increasing preference for eco-friendly alternatives and the development of substitute compounds pose a threat to the market's sustained growth. To overcome these challenges, market players need to focus on sustainable practices, innovation, and meeting stringent regulatory requirements. Overall, the global chlorobenzene market presents both opportunities and challenges, requiring industry stakeholders to navigate evolving market dynamics and adopt strategies that ensure long-term competitiveness.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.09 Billion |
| Market size value in 2031 | USD 3.30 Billion |
| Growth Rate | 5.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Chlorobenzene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Chlorobenzene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Chlorobenzene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chlorobenzene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Chlorobenzene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Chlorobenzene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Chlorobenzene Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
