Demand for Benzyl Chloride Are Slated To Accelerate At A Steady CAGR of 3.5% To Top US$ 140 Million by 2033

Jun 27, 2023

Expansion of Paints & Coatings Sector Resulting from Increasing Government Investments in Infrastructure Projects Driving Demand for Benzyl Chloride

Rockville , April 21, 2023 (GLOBE NEWSWIRE) -- As assessed by Fact.MR, the global benzyl alcohol market is valued at US$ US$ 97 million in 2023 and is forecasted to expand at 3.5% CAGR between 2023 and 2033.

Benzyl chloride, also known as chlorotoluene, is a highly reactive organic compound with a chemical structure. It is a colorless liquid at room temperature and is widely used in chemical synthesis as a key raw material for the production of many important compounds. Benzyl chloride is a versatile molecule that serves as an intermediate substrate for creating various compounds such as flavors, medicines, and dyes that are different from benzyl alcohol.

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In addition to being used in the production of benzyl alcohol and benzyl quats, benzyl chloride is also utilized in the production of photographic developers, phthalates, and benzyl cyanide. The market for benzyl chloride is expected to grow due to the expansion of the coatings industry, increasing paint sales, and increased government investment in infrastructure.

Benzyl chloride is being increasingly used as a precursor for benzyl esters in various applications such as perfumes, flavorings, and plasticizers in several countries. In addition, the water purification and healthcare sectors are also showing an increasing use of benzyl chloride.

Growth of the coatings industry, which requires benzyl chloride in the production of benzyl alcohol, is set to drive the demand for benzyl chloride. However, the usage of benzyl chloride carries health risks such as damage to the nervous system, skin, eyes, and lungs. Therefore, governments have established strict regulations on its use, which could limit market growth to some extent.

Key Takeaways from Market Study

The global benzyl chloride market was valued at US$ 93.6 million in 2022.

Worldwide demand for benzyl chloride is projected to increase at a CAGR of 3.5% during the forecast period (2023 to 2033).

The global market is expected to reach US$ 140 million by the end of 2033.

Benzyl alcohol accounts for 50% share of the global benzyl chloride market in 2023.

India and mainland China collectively account for 71% of global benzyl chloride consumption.

" U se of benzyl chloride derivatives is expanding in various industries such as plasticizers, surfactants, fragrances, flavors, and personal care products , which is significantly contributing to the high demand for the compound worldwide ," says a Fact.MR analyst.

Key Players of Benzyl Chloride Market

Shimmer Chemicals Pvt. Ltd.

The Chemical Company

Henan Haofei Chemical Co

LANXESS

Charkit Chemical Company LLC,

Valtris Specialty Chemicals Limited

Finar Limited

Lanxess India Private Limited

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Market Competition

To stay competitive in the market, companies must develop new strategies to ensure they continue to provide value. With increasing activist-investor activities, benzyl chloride companies must enhance their capabilities to maintain their market share. To expand their customer and product base, these industry leaders are actively pursuing inorganic marketing partnerships such as acquisitions, collaborations, investments, and capacity expansions.

In October 2021, the United States imposed sanctions on four or five members of the powerful Mexican gang CJNG. The Pacific port's drug-related operations were under their management, serving as a gateway for Asian fentanyl compounds and methamphetamine precursors.

Benzyl chloride was a crucial ingredient in the production of methamphetamine, and a seizure of 50,000 kg of the chemical was made at the port. The arrest of these individuals challenged the CJNG's plans to dominate the lucrative synthetic drug trade in the US and expand their organization across Mexico.

Key Segments of Benzyl Chloride Industry

By Application :

Benzyl Alcohol

Benzyl Cyanide

Benzyl Quaternary Ammonium Compounds

Benzyl Phthalate

Benzyl Ester

Others

By End Use :

Personal Care

Pharmaceuticals

Paints & Coatings

Agrochemicals

Others

By Region :

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global benzyl chloride market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights on the market based on application (benzyl alcohol, benzyl cyanide, benzyl quaternary ammonium compounds, benzyl phthalate, benzyl ester, others) and end use (personal care, pharmaceuticals, paints & coatings, agrochemicals, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

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