The new report by Expert Market Research titled, ‘Global Benzyl Chloride Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global benzyl chloride market, assessing the market based on its segments like applications, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3%
Significant advancements in the benzyl alcohol and paint industries have a beneficial impact on the benzyl chloride market, as they indirectly support the global benzyl alcohol market. Various improvements in the plastic sector along with the broad demand for skin care goods and medications, fuel the benzyl chloride industry. Rapid growth in developing countries, an increase in disposable income and living standards, and increased urbanisation are projected to fuel demand for benzyl chloride over the forecast period. Plastics, being a fast growing sector, is expected to drive demand for benzyl chloride over the forecast period.
Industry Definition and Major Segments
The chemical compound benzyl chloride has a strong, unpleasant odour. The chemical is also known as alpha-chlorotoluene. Benzyl chloride is largely employed as a chemical intermediary in the production of other valuable molecules such as benzyl alcohol, colourants, and numerous key medicinal medicines.
The market is segregated in terms of application into:
- Benzyl Alcohol
- Benzyl Cyanide
- Benzyl Quaternary Ammonium Compounds
- Benzyl Phthalates
- Benzyl Ester
- Others
The market is divided on the basis of end use into:
- Personal Care
- Pharmaceutical
- Paint and Coating
- Agrochemical
- Others
The regional markets for the product include:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
The growing need for benzyl chloride in the manufacture of alcohol, which is utilised in a variety of industries, is a major market driver. The demand for benzyl alcohol in the paint and coating sector, and its global expansion, is likely to boost market demand throughout the forecast period. The chemical is also used in the production of agrochemicals, therefore the rising food demand and increasing disposable incomes across the globe are aiding the market growth. Further, benzyl chloride is widely utilised in the plastics sector because it offers a variety of physical qualities that aid in the manufacturing process, thereby boosting the market development.
Key Market Players
The major players in the market are Lanxess AG, Shanghai Xinglu Chemical Technology Co., Ltd, Nippon Light Metal Co., Ltd, Valtris Specialty Chemicals, Hubei Phoenix Chemical Company Limited, and Benzochem Industries Pvt Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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