Benzyl Chloride Market Overview
According to MRFR analysis, the Benzyl Chloride Market is projected to register a CAGR of above 4% during the forecast period, 2020–2027. The domination in terms of revenue is predicted to come from the Asia-Pacific region!
Benzyl Chloride, also known as α-chlorotoulene, is an organic chemical that comes with a very strong odor. It is a colorless liquid that causes your eyes to tear, and it is used for making dyes, drugs, resins, cosmetics, and plasticizers. The odor threshold for the benzyl chloride is accountable to be 0.041ppm. The odor threshold might also vary for the element greatly! Therefore, one should not rely upon just the odor for identifying whether the portion of benzyl chloride is hazardous or not. There are dilution and neutralization factors embedded in benzyl chloride solution for making it usable for humans.
The report has an overall focus on the growth potential of the benzyl chloride market. It also highlights the market segmentation, key market dynamics, regional classification and other valuable insights to explain the potential of this market at the global level. The rising demand for its associated products is destined to help this market generate higher revenue in the present forecast years than that of the previous forecast period.
Covid-19 Impact Analysis
COVID 19 was a health adversity pandemic that was alerting humans across the globe about being predictable on what they are using or consuming. As benzyl chloride has a restraint or challenge of high concentration in some products, which results in toxic outcomes on humans, people started to repel themselves from using the Benzyl Chloride products. The key players suddenly experienced a drop in sales, negatively impacting the market.
The manpower was also down for most of the companies across various regions, which affected the production pace of demanding products. Hence, the business within that time span was paused with negative values. But soon after 2021 hits the calendar, the Benzyl Chloride market started picking up from where it left. The toxic effects were reduced, and the customers were convinced that the cosmetics and other products within the market were safe for their consumption, with test reports and evidence as support.
Market Key Drivers
Benzyl alcohol is one of the most widely used benzyl chloride applications; it is used in pharmaceutical applications, natural health products, cosmetics, flavor products, textile dyes, solvents, etc. Hence, this concludes that the demand for benzyl chloride gradually increases over time for the preparation of benzyl alcohol and its application for diverse purposes. Hence, this acts as a vital market driver for the industry to thrive. Market Challenges
The challenge that the global benzyl chloride market is facing substantially is the regulations that are being imposed upon the use of benzyl chloride. It is because benzyl chloride is considered a carcinogenic product. The key players are studying the country-wise regulations in order to modify or improvise the production of benzyl chloride products for the targeted market. Market Opportunities
The use of benzyl chloride products is escalated over the course of time as a chemical intermediate
. The production of benzyl quaternary ammonium compounds is also in demand, and the key players are recording peak requests for rapid supplies to meet the demand requests. Hence, this is one crucial opportunity for the market to pick up the pace and record more sales over the present forecast years. Hence, this shall help the market surpass the predicted benzyl chloride market size. Market Restraints
Medical experts across various regions have tested the use of benzyl chloride to have acted as a health hazard in association with that product. Therefore, most of the products are banned for use or are regulated for more dilution in order to make them safe for humans to use as cosmetics, paints or other such applications. COVID did slow down the manufacturing process, and the workforce is yet to restore completely. Most of the key players are still actively hiring a proficient workforce to get back to their usual place of production. The posh regions and cities within them have fully functional key players with a suitable workforce.
Cumulative Evaluation Of The Market
Benzyl Chloride is also on the Right to Know Hazardous Substances list. It is because there is a citation by big departments such as ACGIH, DOT, OSHA, NFPA, EPA, IRIS, IARC, DEP and others for humans to be aware of what amount of benzyl chloride is safe for their consumption or use in any means. The chemical is also listed on the Special Health Hazard Substance List. The key players are working upon imposing the powerful effects of benzyl chloride in cosmetics and other such applications at permissible levels. It is to ensure that no health adversity gets triggered due to it.
Based on the application segmentation, the global benzyl chloride market outlook is segmented upon various uses of it. It is used for the production of benzyl alcohol, benzyl quaternary ammonium compounds, benzyl cyanide and other such elements. Benzyl Alcohol is accountable for holding the largest market share of around 50% in the previous forecast period until 2019. Therefore, the demand pace has also increased for it over the time span. Hence, it is expected to contribute to the maximum generation of sales. By End-User:
Based on the end-user segmentation, the global benzyl chloride market offers its products and services to diverse industries such as paints & coatings, personal care, pharmaceuticals, agrochemicals, and others. The paints and coatings industry is leveraging the maximum potential of this market and is expected to generate higher revenue in the present forecast period, which surpasses the specific industry-wise revenue in the previous forecast period.
The global benzyl chloride market analysis based upon region states that the market is widely spread worldwide. But the regions with the highest demands for benzyl chloride products are North America, Asia-Pacific, Europe, Latin America, the Middle East & Africa and other parts of the world.
North America was reportedly holding 12% of the benzyl chloride market share in 2019. It has been substantially constant since that period time because the key players in the industry are using the alternative process of production for benzyl alcohol, which is the reason for limitations on the market’s growth in this region.
The Asia-Pacific market accounted for 50% of the market share in 2019 and is expected to dominate the benzyl chloride market value in terms of revenue generation for the present forecast years.
Competitive Landscape Analysis
The global benzyl chloride market trends have pushed the motivation of many companies to be part of this thriving market. This market's scope and demand have always surpassed the prediction levels within forecast periods. The major key players are as follows:
- LANXESS (Germany)
- Valtris Specialty Chemicals (US)
- Charkit Chemical Company LLC (US)
- Henan GP Chemicals Co., Ltd (China)
- Henan Haofei Chemical Co., Ltd (China)
- The Chemical Company (US)
- DanyangWanlong Chemical Co., Ltd (China)
- Shimmer Chemicals Pvt. Ltd (India)
- KLJ Group (India)
- JiangyinJianheng Chemical Co., Ltd (China)
The Chemical Company US is one of the best key players in the industry that is working immensely hard to properly utilize the product across targeted industries and application areas. Depending upon the usability factor, the company is now improving its methods for innovation and improvements to the output product!
- October 2021- The US sanctioned around 4 members of the formidable CJNG cartel of Mexico. They were in charge of all the narcotics activities at Pacific port, which eventually served as the entry route for Methamphetamine precursor and Asian fentanyl chemicals. 50,000 kg of benzyl chloride was used for manufacturing the methamphetamines and was intercepted at the port in the early days of July 2021. Control was imposed over the CJNG’s aspirations for controlling the lucrative synthetic drug traffic into the US and expansion of the entire group across Mexico.
This is the global benzyl chloride market forecast report that states its growth over a specific period of time. This report has the market segmentation, regional analysis, competitor analysis, COVID analysis, market dynamics and everything else that is essential for briefing the position of the market across the world. It also sheds light on the growth rate of this market, which has set up the prediction for a higher revenue generation by the end of the present forecast years.
- Production of Benzyl Alcohol
- Production of Benzyl Quaternary Ammonium Compounds
- Production of Benzyl Cyanide
By End-Use Industry:
- Paints & Coatings
- Personal Care
- North America
- Asia Pacific
- Rest of the World
| Market Size
|| 2030: USD 210 Million
|| 4% (2020-2030)
| Base Year
| Forecast Period
| Historical Data
| Forecast Units
|| Value (USD Million)
| Report Coverage
|| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
|| Application, End-Use, Region
| Geographies Covered
|| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
|| LANXESS (Germany), Valtris Specialty Chemicals (US), Charkit Chemical Company LLC (US), Henan GP Chemicals Co., Ltd (China), Henan Haofei Chemical Co., Ltd (China), The Chemical Company (US), Danyang Wanlong Chemical Co., Ltd (China), Shimmer Chemicals Pvt. Ltd (India), KLJ Group (India),Jiangyin Jianheng Chemical Co., Ltd (China)
| Key Market Opportunities
Expenditure in the global construction industry
Widespread use of benzyl chloride in the chemical industry
| Key Market Drivers
Surging demand for benzyl chloride in the production of benzyl alcohol
Increasing use of the product as a chemical intermediate in the production of benzyl quaternary ammonium compounds
Frequently Asked Questions (FAQ) :
Global benzyl chloride market is expected to record a substantial market valuation by 2027.
Global benzyl chloride market is projected to register a moderate 4% CAGR in the forecast period.
The production of benzyl alcohol segment is poised to observe substantial demand over the review period.
The paints and coatings segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global benzyl chloride market are LANXESS (Germany), Valtris Specialty Chemicals (US), Charkit Chemical Company LLC (US), among others.
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