The global monochlorobenzene market is slated to reach USD 1,915.1 million in 2023 and is expected to accumulate a market value of USD 2,701.5 million by registering a CAGR of 3.5% in the forecast period 2023 to 2033.
The growth of the monochlorobenzene market can be attributed to the increasing application of the same in end-user industries. The market for monochlorobenzene registered a CAGR of 2.4% in the historical period.
Data Points | Key Statistics |
---|---|
Estimated Base Year Value (2022) | USD 1,873.9 million |
Expected Market Value (2023) | USD 1,915.1 million |
Anticipated Forecast Value (2033) | USD 2,701.5 million |
Projected Growth Rate (2023 to 2033) | 3.5% CAGR |
Monochlorobenzene is an aromatic organic compound with the chemical formula C6H5Cl. It is a colorless, flammable liquid and acts as a common solvent for use as an intermediate in the manufacture of other chemicals. These compounds are primarily used as an intermediary in the manufacture and synthesis of pesticides and various other chemicals.
Monochlorobenzene came into existence in 1851 and, at present, is produced by benzene chlorination in the existence of catalysts, acids such as sulfur dichloride, ferric chloride, and anhydrous aluminum chloride.
This chlorination process of benzene can ideally produce 12 different chlorobenzenes; however, world events and technology have decreased the monochlorobenzene to the production of three primary products such as monochlorobenzene, p-dimonochlorobenzene, and o-dichlorobenzene.
Other chlorobenzenes that are not produced on a large scale include m-dichlorobenzene, tetrachlorobenzenes, trichlorobenzenes and hexachlorobenzene. Approximately 50% of the total production of monochlorobenzene is represented by monochlorobenzene, which is used for the production of nitro chlorobenzene.
These nitrochlorobenzenes manufacture pigment intermediates, dyes, pesticides, rubber processing chemicals, organic intermediates, and pharmaceuticals, among others. O-dimonochlorobenzene is used for the treatment of garbage, and p-dimonochlorobenzene covers the largest market for moth control and deodorant blocks and also in the production of high-performance polymers.
Chlorobenzenes are widely used in the manufacture of various pesticides, insecticides, and chemicals. In addition, they are used as deodorizers, degreasers, fumigants, and herbicides, among others.
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The global demand for monochlorobenzene is projected to increase at a CAGR of 3.5% during the forecast period, reaching a total of USD 2,701.5 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 2.4%.
Although the COVID-19 pandemic affected the demand for monochlorobenzene, the demand for it has increased due to its increasing use in solvents and personal care products. Moreover, most end-user industries are trying to integrate chemicals to maximize the use of their products. This, in turn, is expected to increase the sales of the same.
Multi-purpose Use of Monochlorobenzene Driving Market Growth
The use of monochlorobenzene for various applications such as nitro chlorobenzene, sulfone polymers, diphenol ether, phenyl phenols, and solvents is driving the growth of the market. In addition, nitro-chlorobenzenes are used as intermediates in the manufacture of rubber chemicals, agricultural chemicals, antioxidants, dyes, and pigments and constitute the key application of monochlorobenzene.
Monochlorobenzene is also used as s a solvent in processes to produce rubber products, pesticides, pharmaceuticals, and resins. Also, the y-o-y growth in the pharmaceutical industry and pesticides increases the demand for the market studied.
The Personal Care Industry Propelling the Growth of Monochlorobenzene
The key driving factors of the chlorobenzenes market are the growing demand for monochlorobenzene from the chemical industry for the manufacture of various chemicals. In addition, owing to its use as deodorant, huge demand from the personal care industry is also anticipated to boost the demand for chlorobenzenes.
Alternative Chemicals Restraining Market Growth
The demand for monochlorobenzene in the market is expected to slow down owing to the various factors that volatilize the environment. The use of monochlorobenzene as an herbicide, pesticide, and solvent, with environmental problems related to them, has declined the market for chlorobenzene.
The markets for chlorobenzenes, except for high-performance polymers, are declining owing to the substitution of alternative chemistry in the manufacture of products such as phenol and moth control agents. All these factors are derailing the growth of the monochlorobenzene industry.
Research Increasing the Use of Monochlorobenzene
Country | The United States |
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Market Share % (2023) | 19.3% |
The strong presence of chemical industries across the United States is making North America a large contributor to the monochlorobenzene industry. Furthermore, the establishment of specialty chemical manufacturing facilities has boosted the consumption of monochlorobenzene in the country.
Continuous research to use monochlorobenzene in end-user industries is another factor bolstering the demand for the chemical. Thus, due to the reasons mentioned above, North America is expected to possess a 20.8% market share for the monochlorobenzene industry in 2023.
Skincare Products Increasing Demand for Monochlorobenzene
Attributes | Details |
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Germany’s Market Share % (2023) | 16.3% |
The United Kingdom’s Forecast CAGR % | 1.7% |
The chemical industry in Europe is a key contributor to the monochlorobenzene market. In addition, the increasing demand for personal skin care products, especially by Generation Z and millennials, is changing the landscape for monochlorobenzene in the market. Furthermore, the penetration of different end-user industries is creating opportunities for monochlorobenzene in the region.
Due to the aforementioned reasons, Europe is expected to possess a sizeable market share for the monochlorobenzene market in 2023.
Country | Forecast CAGR % (2023 to 2033) |
---|---|
China | 2.8% |
India | 3.3% |
China is a significant consumer of chlorobenzene. It holds more than half of the global consumption market. Asia Pacific is the fastest-growing monochlorobenzene market due to many end-use industries in China and India. Japan also contributes a good percentage of global consumption.
In addition, the wide application of monochlorobenzene in solvents and the personal care industry in the region is driving the overall growth of the market. Furthermore, research is underway to maximize the use of monochlorobenzene to increase its effectiveness of the same in the region. Thus, Asia Pacific is expected to procure a 15% market share for the monochlorobenzene market in 2023.
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Chemical Use in end-user propelling Growth of Nitrochlorobenzenes
Segment | Nitrochlorobenzene |
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Market Share % (2023) | 44.3% |
The nitro chlorobenzene segment is expected to account for a key share of the global monochlorobenzene market in 2023. Nitrochlorobenzenes are used as intermediates in the manufacture of agricultural chemicals, rubber chemicals, antioxidants, dyes, and pigments and constitute a key application of monochlorobenzene. The increasing application of nitrochlorobenzenes is favoring the growth of the same.
Nitro chlorobenzene is expected to procure a 44.3% market share of monochlorobenzene market in 2023.
Key start-up players in the monochlorobenzene market are Protech, Lionano, Sila Nanotechnologies, Bayotech, and Group14Technologies.
Protech, a key player in the monochlorobenzene market, is focusing on effectively using the chemical to widen its use.
Key players in the monochlorobenzene market are Arkema SA, Henan Kaipu Chemical Co., Ltd., Bayer AG, PPG Industries, Inc., Jinhua, Chemical (Group) Corporation, Nanjing Chemical Industry Co.Ltd, Solutia, Inc., Tianjin Bohai Chemical Co. Ltd
Nanjing Chemical Industry Co. Ltd manufactures monochlorobenzene, especially for cleaning products as solvents. Through this, most cleaning industries create unique formulas for effective cleaning sprays.
Report Attributes | Details |
---|---|
Market Value in 2023 | USD 1,915.1 million |
Market Value in 2033 | USD 2,701.5 million |
Growth Rate | CAGR of 3.5% from 2023 to 2033 |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Type, Region |
Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; The Middle East and Africa |
Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
Key Companies Profiled | Arkema SA; Henan Kaipu Chemical Co. Ltd.; Bayer AG; Kureha Corporation; PPG Industries Inc.; Jinhua Chemical (Group) Corporation; Nanjing Chemical Industry Co. Ltd; Solutia, Inc.; Tianjin Bohai Chemical Co. Ltd |
Customization | Available Upon Request |
The market developed at a CAGR of 2.4% from 2018 to 2022.
Arkema SA, Bayer AG, and Solutia, Inc. are the key market players.
Alternative chemicals restrain the market growth.
This market is valued at USD 1,915.1 million in 2023.
This market is estimated to reach USD 2,701.5 million by 2033.
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