The global monochlorobenzene market is expected to reach a valuation of US$ 2,592.6 Million by 2032, with the market expanding at a dormant CAGR of 3.3% from 2022 to 2032. Valued at US$ 1,813.98 Million in 2021, the monochlorobenzene market will likely reach an estimated US$ 1,873.9 Million in 2022.
The escalating application of monochlorobenzene in different end-use industries drives the market growth of the same. More than half of all monochlorobenzenes are utilized in the production of nitrochlorobenzenes which, in turn, is used to produce pigment intermediates, dye, pesticides, rubber processing chemicals, organic intermediates, and pharmaceuticals among others.
This, along with other monochlorobenzene subcategories propel the growth of the target market during the forecast period. An aromatic organic compound with the chemical formula C6H5Cl is referred to as monochlorobenzene . A colorless, flammable liquid, monochlorobenzene acts as a typical solvent for use as an intermediate in the manufacture of other chemicals.
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These compounds are mainly used as a medium in the production and synthesis of pesticides and a variety of other chemicals. Monochlorobenzenes are, thus, largely used in the manufacture of different pesticides, insecticides, deodorizers, degreasers, fumigants, and herbicides among others.
The major growth driver for the monochlorobenzene market is the product’s diverse applications such as nitrochlorobenzene, sulfone polymers, diphenol ether, phenylphenols, and solvents are driving the growth of the market.
Again, nitrochlorobenzenes are, in turn, used as intermediates in the manufacture of rubber chemicals, agricultural chemicals, antioxidants, dyes, and pigments. In this manner, nitrochlorobenzenes segment comprises the major application of monochlorobenzene. Thus, varied applications of monochlorobenzene act as its key growth driver.
Moreover, monochlorobenzene is used as s a solvent in processes to create rubber products, pesticides, pharmaceuticals, and resins. Hence, the year-by-year expansion of the pharmaceutical and pesticide industries augments the demand for the monochlorobenzenes market.
Heightened demand for the target product from the chemical industry, and the personal care sector boost the overall growth of the monochlorobenzene market during the forecast period.
“Rising emphasis on personal care and grooming is expanding the personal care industry, which in turn, drives the global growth of the monochlorobenzene market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The availability of substitutes and the growing concern for the environment may impede the market growth.
- North America will account for 20.8% of the market share by the end of 2022.
- In 2022, Europe will hold about 17.2% of the total market share.
- Rising demand will the chemical industry will propel the growth of the Nitrochlorobenzene segment.
- Asia Pacific is the fastest-growing market for monochlorobenzene.
- China is driving the target market growth in the Asia Pacific region.
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Competitive Landscape
Arkema SA, Henan Kaipu Chemical Co., Ltd., Bayer AG, PPG Industries, Inc., Jinhua, Chemical (Group) Corporation, Nanjing Chemical Industry Co.Ltd, Solutia, Inc., and Tianjin Bohai Chemical Co. Ltd., among others are some of the major players in the monochlorobenzene market profiled in the full version of the report.
Leading market players are focusing on product development and creating unique formulations to cater to the growing demand.
Key Segments Profiled in the Monochlorobenzene Industry Survey
Monochlorobenzene Market by Type:
- p-Dichlorobenzene
- o-Dichlorobenzene
- m-Dichlorobenzene
- Tetrachlorobenzenes
- Nitrocholorobenzene
- Trichlorobenzenes
- Hexachlorobenzene
- Others
Monochlorobenzene Market by Region:
- North America Monochlorobenzene Market
- Latin America Monochlorobenzene Market
- Europe Monochlorobenzene Market
- Asia Pacific Monochlorobenzene Market
- Middle East & Africa Monochlorobenzene Market
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More Insights into Monochlorobenzene Market Report
In its latest report, FMI offers an unbiased analysis of the global monochlorobenzene market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of type, and region.
According to the latest FMI reports, based on segmentation, the Nitrochlorobenzene segment will account for a major share of the overall market in 2022 and will continue this steady growth during the forecast period. In terms of end-user, the chemical use segment will drive the demand for Nitrochlorobenzene during 2022-2032.
Based on region, the monochlorobenzene market in North America will present substantial growth by accounting for 20.8% of the overall market share in 2022.
The establishment of specialty chemical manufacturing industries coupled with rising demand for the target product in the chemical sector will propel the market growth in this region during the forecast period. Europe and Asia Pacific will also present lucrative opportunities to the monochlorobenzene market through 2032.
Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Ethylbenzene Market: The global ethylbenzene market garnered US$ 21.3 Billion in 2021, and is likely to exhibit a Y-o-Y increase of 3.0% to be valued at US$ 21.9 Billion in 2022.
Cyclohexylbenzene Market: Paint and coating and chemical production applications will continue creating prospects for growth. Future Market Insights (FMI) has forecast the clohexylbenzene market to register a CAGR of 4.2% in 2021.
1,4-Diisopropylbenzene Market: 1,4-Diisopropylbenzene market size is expected to hit US$ 110.7 Mn in 2021. Despite a year of subdued growth amid the COVID-19 outbreak, demand is expected to accelerate at 4.1% between 2020 and 2021.
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