Chlorotoluene Market is projected to be worth USD 3,654.70 Million by 2028, registering a CAGR of 6.2% during the forecast period (2021 - 2028).
The chlorotoluene market is projected to register a CAGR of 6.2% from 2022 to 2028. Increasing electricity demand and rising residential, commercial, and industrial applications. Chlorotoluene, commonly referred to as methyl benzyl chloride, is an organic molecule made up of chlorine and toluenes in place of the benzene ring. The chlorotoluene market size is expected to reach approximately USD 3,654.70 million by 2028. An organic molecule called chlorotoluene contains derivatives that are employed in a variety of industrial processes. It is a member of the biphenyl group and is mostly produced by hydrogenating benzyl chloride. Toluene may be directly chlorinated to produce chlorotoluene. It is a clear or pale yellow liquid. It also smells delicious. When toluene is chlorinated, the principal products are polychlorinated derivatives, such as tetrachloro methylbenzene (also known as hexachlorobenzene), used to make insecticides and fungicides. It is a substance having the chemical formula C.H. The market for chlorotoluene is driven by increasing demand for several derivatives of chlorotoluene from various sectors, including the textile and chemical industries. It is used in various research. Increasing demand for chemicals from chemical industries, rapidly developing textile industries, and low cost of the precuts have driven the market growth. The increasing market application in studying the various chemical reactions supported the market's growth
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted the way of life across the world. The pandemic situation has brought extraordinary changes to the market. Chemical has always had a major role in the production of daily necessities, including plastic, medicines, fertilizers, and packaging products. With the critical disturbance generated by COVID-19, these industries were hit badly, creating a chain effect that disrupted the usual practices. Consumer spending abilities were impacted, and this caused a drop in demand for key sectors, including automotive, specialty chemicals, and consumer products. Indirectly a chain effect was caused involving the chemical industry.
Chlorotoluene Market Dynamics
The market for chlorotoluene trends includes the increase in the need for various derivatives of chlorotoluene from numerous sectors, including the textile and chemical industry. The growing demand for chemicals from chemical industries is further anticipated to boost the market's growth. An upsurge in research and development activities is further anticipated to cushion the growth of the market. On the other hand, the increase in the toxicity level of the chemical is further anticipated to fuel the market's growth over the forecast period.
The presentation of cresols, which contains toluene and other chemical intermediates, is one of the primary drivers projected to help the expansion of the market for chlorotoluene in the US expanded demand for different chemical by-products from a variety of industries, such as the textile and chemical industries, expanded the company's sales. Furthermore, expected development drivers for the market include the enhancement demand for chemicals from chemical industries. An enhancement in R&D efforts is anticipated to accelerate market growth.
The chemical has a harmful impact on the body if it comes in contact with it. The chemical is also non-renewable and creates soil erosion. Side effects of the chemical and the high toxicity level of the chemical are responsible for slowing the market's growth. Moreover, stringent government regulation of chemicals is a prominent challenge for the market during the forecast period. The growth in the toxicity level of the chemical is further anticipated to impede the market's growth.
There are many uses for chemicals within the textile industry. It removes lint from cotton fabrics without damaging them and removes oil stains from cloth during machine processing. It is often used as a chemical feedstock to manufacture resins and dyes with high boiling points. It won't extract hydrogen sulfide from fossil fuels and be used in sulfuric acid production. It is utilized as a solvent for dyeing and printing processes.
Chlorotoluene Market Segmentation
Product Type Insights
The chlorotoluene market segmentation, based on product type, is 2-chlorotoluene, 3-chlorotoluene, and others. The chlorotoluene market growth was prominently high under the 2-chlorotoluene category in 2021 due to increasing demand for 2-chlorotoluene in the textile industry. Toluene may be chlorinated to produce 2-chlorotoluene. It is largely employed in producing insecticides, medicines, and colors. Additionally, 2-chlorotoluene is used as a chemical intermediary in producing other substances like paint pigments or alkylating agents for organic synthesis. It is an odorless, flammable liquid that is only weakly soluble in water. It is the second toluene family member, often used to synthesize monomers or intermediates in the chemical industry. Besides this, the 3-chlorotoluene was the fastest growing category as it is used as a reagent to synthesize 4-Arylchromene products, compounds that generate apoptosis and work as anti-cancer agents.
The chlorotoluene market segmentation, based on application, is chemical industries, agriculture textiles industries, pharmaceutical industries, and others. The textiles industries category had a prominent share in 2021 due to the growing adoption of chlorotoluene in the textile industry. Chlorotoluene is used to remove oil stains from textiles during machine processing and to remove lint from cotton fabrics without harming them. It is a chemical feedstock that may be used to make high boiling point dyes and resins. Besides this, the pharmaceutical industry was the fastest-growing category as it is used as a solvent in making pharmaceutical products.
Global Chlorotoluene Market Share, by Region, 2021 (%)
Chlorotoluene Market Overview by Region
By region, the chlorotoluene market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the most extensive market share. Europe is projected to exhibit the highest CAGR during the review period.
Asia-Pacific held a prominent market share in 2021 due to the presence of major manufacturers and increasing demand for chlorotoluene from various industries, including textile, chemical, pharmaceutical, and others. Asia-Pacific region synthesizes over 40% of the total volume of chlorotoluene, making it a dominant market region. Rapid industrialization and developing chemical industries have also supported the market's growth.
Europe was the fastest-growing region in 2021. The prominent factors driving the growth of the European market are the availability of funds, increasing demand for the textile industries, huge research centers, and huge government support. Furthermore, relevant governmental regulations and an increase in industrialization will further fuel the growth of the market in this region over the forecast period.
Chlorotoluene Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as WeylChem International GmbH, LANXESS, Valtris Specialty Chemicals, TORAY INDUSTRIES, INC., IHARANIKKEI CHEMICAL INDUSTRY CO., LTD., and Gujarat Alkalies & Chemicals Limited dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in April 2022, LANXESS is broadening its utilization of chlorotoluene in development in computer science (Al). The specialty chemicals company has introduced a project to expand its range of prepolymers. The goal is to supply customers with tailor-made polyurethane systems with shorter lead times, including for new submissions with different necessities.
Prominent players in the chlorotoluene market research include WeylChem International GmbH, LANXESS, Valtris Specialty Chemicals, TORAY INDUSTRIES, INC., IHARANIKKEI CHEMICAL INDUSTRY CO., LTD., and Gujarat Alkalies & Chemicals Limited, Xiamen Kehua Hengsheng Co., Ltd., Socomec, Falcon Electric, Inc., Daikin Industries, Ltd., Stulz GmbH, Asetek A/S, Siemens, Johnson Controls, Inc., SPX Corporation, and Nortek Air Solutions, LLC. among others.
Scope of the Chlorotoluene Market Report
Product Type Outlook
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Chlorotoluene Market Forecast & Size:
To identify and estimate the market size for the chlorotoluene market report segmented by product type and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the chlorotoluene market forecast between 2022 and 2030
Market Landscape and Trends:
To identify and infer the drivers, opportunities, restraints, and challenges in the chlorotoluene market growth
Market Influencing Factors:
To find out the factors which are impacting the chlorotoluene market size among consumers
Impact of COVID-19:
To identify and understand the several factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, SWOT analysis, recent developments, and key strategies.
|Market Size||2028: USD 3,654.70 million|
|CAGR||6.2% CAGR (2021-2028)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Growth Factors, Competitive Landscape, and Trends|
|Segments Covered||Type and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||WeylChem International GmbH, LANXESS, Valtris Specialty Chemicals, TORAY INDUSTRIES, INC., IHARANIKKEI CHEMICAL INDUSTRY CO., LTD., and Gujarat Alkalies & Chemicals Limited, Xiamen Kehua Hengsheng Co., Ltd., Socomec, Falcon Electric, Inc., Daikin Industries, Ltd., Stulz GmbH, Asetek A/S, Siemens, Johnson Controls, Inc., SPX Corporation, and Nortek Air Solutions, LLC. among others.|
|Key Market Opportunities||The higher demand for chlorotoluene derivatives in various application industries|
|Key Market Drivers||Increasing research and development operations|
The chlorotoluene market forecast period is 2021 - 2028
The market is expected to register a CAGR of ~3.10% over the next 10 years, according to chlorotoluene market research.
Europe is expected to register the highest CAGR during 2021 - 2028
Asia-Pacific held the largest share in 2021
The market size is expected to be USD 3,654.70 million by 2028.
WeylChem International GmbH, LANXESS, Valtris Specialty Chemicals, TORAY INDUSTRIES, INC., IHARANIKKEI CHEMICAL INDUSTRY CO., LTD., and Gujarat Alkalies & Chemicals Limited, Xiamen Kehua Hengsheng Co., Ltd., Socomec, Falcon Electric, Inc., Daikin Industries, Ltd., Stulz GmbH, Asetek A/S, Siemens, Johnson Controls, Inc., SPX Corporation, and Nortek Air Solutions, LLC. among others are the major companies operating in the market.