Benzyl Chloride Market Size & Share to Surpass USD 103.4 million by 2034, Exhibiting a CAGR of 3.4% | States Transparency Market Research, Inc.
A more efficient synthesis of benzyl chloride may be possible as chemical synthesis techniques advance. As environmental awareness grows, chemical compounds like benzyl chloride may become more prominent.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Aug. 08, 2024 (GLOBE NEWSWIRE) — The benzyl chloride market (벤질 클로라이드 시장) was valued at US$ 97.0 million in 2023. It is estimated to expand at a CAGR of 3.4% from 2024 to 2034 reaching US$ 103.4 million by the end of 2034.
Research and development activities may continue to lead to the development of new compounds or techniques that could replace benzyl chloride for specific applications. These substitution tendencies could impact benzocyanide demand depending on the market dynamics surrounding them.
Regulations have been implemented to ensure the safe use of benzyl chloride. To protect public health and avoid environmental contamination, these rules have been established. Sustainable production techniques and bio-based alternatives are being investigated by businesses to meet sustainability targets. Technological developments are increasing the efficiency of benzyl chloride manufacture by streamlining production procedures.
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Companies maintain a competitive edge by investing in research and development, implementing sustainable practices, and staying ahead of changing consumer preferences and regulatory requirements. Since the industry is dedicated to sustainability and a need for specialty chemicals, benzyl chloride is expected to continue to expand favorably.
Key Findings of Market Report
- Increasing consumer goods demand has driven up demand for paints and coatings in recent years.
- As of 2023, Asia-Pacific outpaced North America as the leading region.
- Based on type, the benzyl alcohol segment is expected to drive the benzyl chloride market.
- In terms of application, the plasticizers market is expected to experience strong growth over the next few years.
Global Benzyl Chloride Market (سوق كلوريد البنزيل): Growth Drivers
- Benzoyl chloride is used for synthesizing a wide variety of organic molecules, including medication, agrochemicals, dyes, and perfumes. It can also be used as an additive in other organic compounds. The expansion of these end-user industries directly impacts the demand for benzyl chloride.
- Benzyl chloride is one of the most commonly used chemicals in the pharmaceutical industry since it is used in the production of several different kinds of medications. As the global population ages and grows, the need for drugs is predicted to increase.
- A majority of insecticides, herbicides, and fungicides are produced from benzoyl chloride. Increasing agriculture production in order to feed a rapidly growing population has stimulated the growth of the agrochemical industry, which has increased the demand for benzyl chloride.
- A major component of fragrances and perfumes is benzoyl chloride. In addition to the growth of the personal care and cosmetics industries, benzyl chloride is also in high demand due to the growing popularity of products that contain fragrances among consumers.
- Benzyl chloride plays a key role in the production of benzyl alcohol, benzyl cyanide, and benzyl acetate. As chemical production activities increase, especially in rapidly expanding industrial areas, benzyl chloride’s demand increases.
- Benzyl chloride’s market may also be affected by changes in environmental policy and regulation. Benzyl chloride consumption and production practices could be affected by tighter laws governing the use of specific chemicals.
Global Benzyl Chloride Market: Regional Landscape
- Asia Pacific plays an important role in manufacturing for a wide range of industries. As benzyl chloride is one of the crucial ingredients in chemical synthesis processes, benzyl chloride is always in demand, especially in China and India.
- The pharmaceutical and agrochemical industries are growing rapidly in the Asia Pacific region. Growing populations, better agricultural techniques, and improved healthcare infrastructure contribute to the need for medications and crop protection goods. As a result, the use of benzyl chloride is on the rise.
- Government programs such as “Made in China 2025” and “Make in India” may encourage investment and industrial development in the region, which will increase benzyl chloride demand. A number of domestic production programs are available under these programs.
- Growing environmental concerns and laws governing emissions and chemical usage shape the Asia Pacific benzyl chloride market. Benzyl chloride production and consumption habits in the region may be affected by environmentally friendly alternatives and sustainable practices required of manufacturers.
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Global Benzyl Chloride Market: Competitive Landscape
Consumer products firms are increasing their capacity to manufacture benzyl alcohol to meet the growing demand. In addition, they offer benzyl chloride grades tailored to specific user needs.
Manufacturers of benzyl chloride are improving their environmental profile and sustainability in order to comply with strict regulatory requirements. The following players have been profiled in Transparency Market Research’s benzyl chloride market report:
- Henan GP Chemicals Co. Ltd.
- LANXESS
- The Chemical Company
- Shimmer Chemicals Pvt. Ltd.
- KLJ Group
- Danyang Wanlong Chemical Co. Ltd.
- Valtris Specialty Chemicals
- LBB Specialties
Key Developments
- In May 2023, LANXESS doubled its benzyl alcohol production capacity at its U.S. site in Kalama, Washington, in order to serve its established client base in the Americas. Various technical upgrades contributed to the capacity expansion. Benzyl alcohol is produced at four sites worldwide, including the Kalama plant, which serves as a central hub within a global network of facilities.
- In March 2024, Valtris, an industry leader in the manufacture and sale of specialty chemical additives and precursors, partnered with Barentz as their distribution channel partner in the United States and Canada.
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Global Benzyl Chloride Market: Segmentation
By Type
- Benzyl Alcohol
- Benzyl Cyanide
- Benzyl Quaternary Ammonium Compounds
- Benzyl Phthalates
- Benzyl Esters
- Others
By Application
- Plasticizers
- Flavorants
- Surfactants
- Oilfield
- Sanitizing Agents
- Others
By End Use
- Food & Beverage
- Healthcare
- Consumer Goods
- Water & Wastewater Treatment
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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