An extensive study of the product application and services conducted by subject matter experts assessing the Chlorobenzene Market will help product owners to make a wise decision.
New York, United States – May 27, 2020 /MarketersMedia/ —
The Global Chlorobenzene Market is forecast to reach USD 3.14 Billion by 2027, according to a new report by Reports and Data. Chlorobenzene can be described as a flammable, colorless liquid organic compound, which has an aromatic, almond-like odor. The compound is the simplest member of the class of monochloro benzenes. In context to its traits, some of this organic compound is dissolvable in water, but it quickly evaporates in air. It is denser than water (9.2 lb/gal) and vapors heavier than air. The compound does not occur naturally in the environment. The molecular formula of the compound is C6H5Cl. In the U.S, the production of the compound was declined by more than 60% during the 1960s.
In context to region, Europe can be seen to hold a considerable share of the market. The market share held by the region is attributed to the high demand for paints & coatings and well-established personal care & cosmetics industry that is supporting the growth of the sector in this region. The rising geriatric population and continuous expansion of the pharmaceutical sector is also supporting the growth of the industry in this region.
This report covers the recent COVID-19 incidence and its impact on Chlorobenzene Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Key participants include Jiangsu Yangnong Chemicals Group Co., Ltd., Beckmann-Kenko GmbH, J&K Scientific Ltd, Meryer (Shanghai) Chemical Technology Co., Ltd., Kureha Corporation, China Petrochemical Corporation, Chemada Fine Chemicals, Applichem GmbH, Lanxess and Tianjin Bohai Chemical Industries.
In the past, the organic compound was used to manufacture chemicals like DDT and phenol. However, the use of the chemical in manufacturing pesticides like DDT has reduced because of reducing demand for DDT. Presently, the compound is used as a chemical intermediate to make to various chemicals, degrease automobile parts, and solvent for some pesticide formulations. It is also used to make dyes, pesticides, and various other chemicals.
For the purpose of this report, Reports and Data have segmented the global Chlorobenzene market according to Product Type, End-user, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• Rubber & polymer
• Paints & coatings
• Personal care & cosmetics
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• Polysulfone Polymers
• Room Deodorants
• Moth Control
• Polyphenylene Sulfide Resin
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
• The Chlorobenzene market held a market share of USD 2.13 Billion in the year 2019 that is forecasted to grow at a rate of 4.8% during the forecast period.
• In context to Product Type, the Paradichlorobenzene segment is projected to witness a considerable growth rate of 6.8% during the forecast period, which is expected to occupy 15.0% of the market by 2027. The elevating demand for insecticides and applicability of this type of chlorobenzene as fumigant insecticide for controlling clothes moths contributes to the growth rate witnessed by this segment. The growing demand for polyphenylene sulfide (PPS) resin and its use as a raw material in this resin also contributes to the growth rate witnessed by this segment.
• In context to Application, the Nitrochlorobenzenes segment held a considerable market share of more than 30.0% in 2019, with a CAGR of 5.0% during the forecast period. The market share held by the Nitrochlorobenzenes segment is attributed to the wide arena of application of Nitrochlorobenzenes ranging from intermediates for pigments, dyes, pharmaceutical products like Paracetamol, rubber chemical, and pesticides, which contributes to the growth rate witnessed by this segment.
• In regards to the region, North America held more than 20.0% of the market in 2019, with a CAGR of 5.0% during the forecast period. The presence of well-established chemical industry and growing pharmaceutical sector is supporting the expansion of the industry in this region.
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