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Chlorobenzenes Market Size, Share Global Analysis Report, 2022 – 2028
Chlorobenzenes Market Size, Share, Growth Analysis Report By Application (Adhesive, Paints, Pharmaceuticals, Cosmetics, Rubber & Polymer, Chemical, and Others), By Product (O-Dichlorobenzene, Trichlorobenzene, Monochlorobenzene, Hexachlorobenzene, M-Dichlorobenzene, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028
Industry Insights
[202+ Pages Report] According to Facts and Factors, the global chlorobenzenes market size was worth around USD 2.25 billion in 2021 and is predicted to grow to around USD 3.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.65% between 2022 and 2028. The report analyzes the global chlorobenzenes market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the chlorobenzenes market.
Market Overview
Chlorobenzene with the chemical formula C6H5Cl is an aromatic, organic compound. Aromaticity is the property of circular, and flat molecular structures comprising pi bonds in mesomerism allowing providing higher stability to the atom as compared to other connective or geometric arrangements. The presence of an aromatic ring allows the compound to not break apart easily and become highly stable. Organic compounds are those chemicals that have a carbon-hydrogen bond or bonds between two carbon atoms. An organic compound is capable of other compounds owing to the ability of carbon to catenate. Chlorobenzene is a colorless, flammable liquid. It is widely used as a solvent as well as an intermediate to create other chemicals or compounds. The organic compound is created by the chlorination of benzene, the other term for which is an electrophilic aromatic substitution and causes the replacement of an atom in a given aromatic system to be replaced by an electrophile. However, the process can only be conducted in the presence of Lewis acids like sulfur dichloride, and ferric chloride, but only in a catalytic amount. The product is known to exhibit low to moderate toxicity with the Occupational Safety and Health Administration setting the permissible exposure limit to 75 parts per million (ppm).
Key Insights
- As per the analysis shared by our research analyst, the global chlorobenzenes market is estimated to grow annually at a CAGR of around 5.65% over the forecast period (2022-2028).
- In terms of revenue, the chlorobenzenes market size was valued at around USD 2.25 billion in 2021 and is projected to reach USD 3.5 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on application segmentation, adhesive was predicted to show maximum market share in the year 2021
- Based on product segmentation, monochlorobenzene was the leading revenue-generating product in 2021.
- On the basis of region, Asia-Pacific was the leading revenue generator in 2021
Covid-19 Impact
The global market cap suffered losses due to the pandemic which was majorly driven by the non-operation of production units coupled with transport restrictions. Although the demand for the product was high from the herbicide application segment, the main concern was delivering the products on time and the sale of the final goods.
Growth Drivers
- Rising application in herbicide manufacturing to propel market growth
The global chlorobenzenes market is expected to grow owing to the increased application of the compound in the manufacturing of herbicides. Weedkillers are chemical substances used to control the growth of unwanted plants called weeds. The growing population and the subsequent food requirement are anticipated to propel the demand for quality herbicides. Apart from this, the adoption of improved farming techniques and the increase in the production of grains and cereals is anticipated to drive leaders to invest in the development of weedkillers that provide the necessary result without impacting the quality of the crops. For instance, in 2021, the global herbicide market generated a revenue of USD 37 billion and it may reach up to USD 63 billion in the coming years. The recent developments in the newer version of herbicides and the extensive use of chlorobenzenes owing to technological advancements may drive the global market forward.
Restraints
- Health impacts of prolonged exposure to the compound may restrict the market growth
While chlorobenzene is widely used to create other compounds, it can also be used as a stand-alone chemical entity. However, as per scientific studies, prolonged exposure to the chemical may have a severe impact on the central nervous system. Some of the symptoms related to neurotoxicity are muscle spasms, cyanosis, and numbness. Even though the chances are low of direct exposure to chlorobenzene, nonetheless, it may cause a reduction in the adoption of the compound.
Opportunities
- Growing demand in the rubber industry to provide growth opportunities
The global chlorobenzene market cap is anticipated to benefit from the rising demand for chlorobenzenes in the rubber industry. This sector is one of the most important sectors in developing economies. Another factor driving the rubber sector is the demand for vehicles like cars, two-wheelers, three-wheelers, and others as a direct consequence of the rising population and increase in disposable income. The growth in the number of players in the automotive sector is also contributing to the growing demand for rubber in the vehicle segment. As per a report by the International Rubber Study Group. The automotive industry consumed over 50% of the global rubber used in the market.
Challenges
- Severe consequence of mishandling chlorobenzene to challenge the market expansion
As per the New Jersey Department of Health, chlorobenzene is marked as a hazardous waste. If not handled with care, it may have a severe impact on human health as well as the environment. Hence it requires that factories or industries utilizing the compound follow necessary health-safety protocols. This may raise challenges for global market growth as it could act as a discouraging factor and industry leaders may opt for non-hazardous substitutes.
Segmentation Analysis
- The global chlorobenzenes market is segmented based on application, product, and region.
Based on application, the global market segments are adhesive, paints, pharmaceutical, cosmetics, rubber & polymer, chemical, and others. Adhesive led the segmental growth owing to the growing adhesives & sealants which is currently over USD 70 billion.
Based on product, the global market segments are o-dichlorobenzene, trichlorobenzene, monochlorobenzene, hexachlorobenzene, m-dichlorobenzene, and others. Monochlorobenzene leads the market growth due to its wide application in the production of dichlorodiphenyltrichloroethane.
Recent Developments:
- In June 2022, Grasim Industries, an Indian manufacturing company, entered the paints industry with an investment of INR 10,000 Crore. The move has intensified the competition in the growing organized segment of decorative paint which constitutes over 70% to 80% of industrial paint. The industry lacks sufficient numbers of players to bring healthy and driving competition in the market, and the entry of the flagship global conglomerate Aditya Birla Group company should help in tackling this issue.
- In March 2022, Bostik, a French adhesive manufacturer, announced a distribution collaboration with DGE for the Middle Eastern, African, and European markets. The agreement includes Born2bond ™ engineering adhesive devices designed especially for application for by-the-dot bonding in certain industries like electronics, automotive, medical devices, and luxury packaging.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 2.25 Billion |
Projected Market Size in 2028 |
USD 3.5 Billion |
CAGR Growth Rate |
5.65% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
China Petrochemical Corporation, ITW Reagents Division (PanReac Applichem), Kureha Corporation, LANXESS, Jiangsu Yangnong Chemicals Group Co. Ltd, and Others |
Key Segment |
By Application, Product, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- Asia-Pacific to witness surging growth during the projection period
The global chlorobenzenes market is projected to be led by Asia-Pacific in the coming years driven by the staggering rise witnessed in the chemical and pharmaceutical industries along with widening applications of chlorobenzenes in the preparation of paint, adhesives, rubber items, and resins. The growth is expected to be highest in China, Japan, and India. The Chinese government is witnessing initiatives to meet the rising regional demand as a consequence of increased industrialization, along with the addition of a higher number of end-users. India is anticipated to contribute heavily to the global market revenue with most of the input coming from the pharmaceutical market, which is currently claimed as the third largest worldwide. Growing innovation and research activities to upgrade the medical infrastructure is anticipated to propel the utilization of chlorobenzenes in the segment. For instance, the current trend to look in the Indian pharmaceutical market is the adoption of artificial intelligence, blockchain technology, and additive manufacturing.
Competitive Analysis
- China Petrochemical Corporation
- ITW Reagents Division (PanReac Applichem)
- Kureha Corporation
- LANXESS
- Jiangsu Yangnong Chemicals Group Co. Ltd
The global chlorobenzenes market is segmented as follows:
By Application
- Adhesive
- Paints
- Pharmaceuticals
- Cosmetics
- Rubber & Polymer
- Chemical
- Others
By Product
- O-Dichlorobenzene
- Trichlorobenzene
- Monochlorobenzene
- Hexachlorobenzene
- M-Dichlorobenzene
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- China Petrochemical Corporation
- ITW Reagents Division (PanReac Applichem)
- Kureha Corporation
- LANXESS
- Jiangsu Yangnong Chemicals Group Co. Ltd
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