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.
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.
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:
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!
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.
By End-Use Industry:
|Market Size||2030: USD 210 Million|
|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||
|Key Market Drivers||
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.