Benzyl Chloride Market: Overview
The market size of benzyl chloride was USD 90.5 million in 2021, and it is projected to grow at a CAGR of 3.5 percent during the forecast period. The organic compound benzyl chloride, commonly known as alpha-chlorotoulene, has a potent stench. It is a clear liquid that makes your eyes tear up and is used to make plasticizers, colors, medicines, resins, and cosmetics. The benzyl chloride is responsible for having an odor threshold of 0.041 ppm. The element's odor threshold could potentially differ significantly! As a result, it is not sufficient to determine if a percentage of benzyl chloride is harmful based solely on its smell. The benzyl chloride solution is diluted and neutralized to make it safe for human consumption.
One of the most common uses for benzyl chloride is benzyl alcohol, which is utilized in things like solvents, natural health products, cosmetics, flavorings, and textile colors. This leads to the conclusion that as benzyl alcohol is prepared and used for various applications, there is an increasing need for benzyl chloride over time. As a chemical intermediary, benzyl chloride compounds see increasing utilization throughout time. Additionally, there is a demand for the manufacturing of benzyl quaternary ammonium compounds, and the major companies are registering peaks in supply requests to match the demand. This is a vital opportunity for the market to pick up the pace and record more sales throughout the current projection years. Thus, this will aid in the market's growth beyond the anticipated benzyl chloride market size.
Medical professionals from various countries have proved the use of benzyl chloride to provide a health risk in connection with that product. To make the majority of the goods safe for human use in cosmetics, paints, and other similar applications, they are prohibited from use or subject to additional regulation and dilution. The regulations being put upon the use of benzyl chloride are the biggest obstacle that the worldwide market for benzyl chloride is now facing. It's because benzyl chloride is a substance that is thought to cause cancer. To alter or improve the manufacturing of benzyl chloride products for the targeted market, the key players are analyzing the rules at the national level.
Benzyl Chloride Market: COVID-19 Impact
A pandemic of health problems known as COVID-19 warned people to be cautious about the products they use or consume. Because some items contain high concentrations of benzyl chloride, which can have hazardous effects on humans, individuals have started to steer clear of utilizing these products. The market suffered due to the big firms' rapid decline in sales.
Most businesses throughout numerous regions experienced a decline in labor, which slowed the manufacturing of high-demand goods. As a result, business was paused during that period with negative numbers. But as soon as 2021 arrived on the calendar, the market for benzoyl chloride resumed where it left off. The hazardous effects were lessened with test results and other supporting data and persuaded customers that the cosmetics and other market products were safe for consumption.
Benzyl Chloride Market: Drivers
Increasing Applications Across Different Regions to Drive Market Growth
The market expansion of benzyl chloride in North America is being constrained using an alternate benzyl alcohol synthesis method. The manufacture of benzyl cyanide and benzyl quaternary ammonium compounds, utilized to increase growth in North America, uses benzyl chloride. In nations like India, China, and Japan, the demand for chemical and pharmaceutical products is rising, boosting the market expansion in the Asia-Pacific region. Additionally, the expansion of the coatings industry, rising paint sales, and increased government spending on infrastructure will all contribute to the benzyl chloride market. Numerous market participants have implemented various strategies, including acquisition and mergers, with all well-established and regional participants.
Increasing Usage of Benzyl Chloride for the Preparation of Benzyl Alcohol Driving Market Growth
The production of benzyl alcohol (which accounts for around 55% of all benzyl chloride consumption), benzyl quaternary ammonium compounds (17%), benzyl cyanide (13%), and benzyl esters (5%), along with additional products like benzyl phthalates, consumes the remaining benzyl chloride. High demand for derivatives had a positive impact on the benzyl chloride market. One of the most common uses for benzyl chloride is benzyl alcohol, which is utilized in things like solvents, natural health products, cosmetics, flavorings, and textile colors. This leads to the conclusion that as benzyl alcohol is prepared and used for various applications, there is an increasing need for benzyl chloride over time. Consequently, this serves as a crucial market driver for the industry's growth.
Benzyl Chloride Market: Restraints
Health Risk Associated with Benzyl Chloride to Hamper Market Growth
Medical professionals from various countries have proved the use of benzyl chloride to provide a health risk in connection with that product. To make the majority of the goods safe for human use in cosmetics, paints, and other similar applications, they are prohibited from use or subject to additional regulation and dilution. COVID slowed the manufacturing process, and the workforce hasn't fully recovered. To return to their customary place of production, most major players are still aggressively seeking out qualified employees. The affluent areas and cities within them have major actors that are fully operational and qualified staff.
Benzyl Chloride Market: Segment Overview
Benzyl Alcohol to Dominate Market due to Increased Demand
The worldwide benzyl chloride market outlook is divided into different uses based on application segmentation. It is used to make substances like benzyl cyanide, benzyl alcohol, and benzyl quaternary ammonium compounds. In the preceding projection period through 2021, Benzyl Alcohol is in charge of holding the greatest market share, approximately 50%. As a result, the rate of demand for it has likewise accelerated over time. As a result, it is anticipated to help generate the most sales.
With Increased Demand for Advanced Chemicals such as Benzyl Chloride for Paints and Coatings, Paints & Coatings Category Dominated Market
Based on the end-user segmentation, the global benzyl chloride market delivers its goods and services to numerous industries, including paints & coatings, personal care, pharmaceuticals, agrochemicals, and others. The paints and coatings sector is utilizing this market's full potential and is anticipated to earn more income during the current forecast than during the previous projection period. Benzyl Chloride is one of the main components utilized in producing a novel sort of paint that may alter how we see painting for years to come. The paint, known as Nano-Structured Yellow (NSY), which uses benzyl chloride as a major raw material, is not only beautiful but also risk-free for use.
Benzyl Chloride Market: Regional Landscape
Asia Pacific to Dominate Market due to Growing Consumption of Different Applications
Over the forecast period, it is anticipated that the Asia Pacific market will account for the largest revenue share. In 2021, consumption in India and mainland China accounted for 68% of worldwide demand. Over the next five years, consumption will continue to increase most quickly in these two markets. In mainland China and India, the usage of benzoyl chloride for the manufacturing of benzyl alcohol has surged and will continue to rise sharply. In mainland China, benzyl alcohol is rapidly employed in many products, including solvents, perfumes, flavors, personal care items, and epoxy resin diluents. The largest benzyl chloride market in India is benzyl alcohol, which is mostly shipped to Western Europe, the US, Japan, and South Korea.
Additionally, it is used domestically in medications, perfumes, and other products. China's mainland is where most benzyl chloride is produced in the manufacturing of benzyl cyanide. It is anticipated that consumption will only slightly rise. Penicillin G is made from benzyl cyanide, which is also used in trace amounts to make insecticides, tastes, and scents. Furthermore, mainland China lists benzyl cyanide as a chemical drug precursor. As a result, rigorous regulations govern the manufacture, sale, and transit of benzyl cyanide in mainland China.
Consumption of benzyl chloride for benzyl esters will increase. Because of the desire for perfumes, benzyl esters will increase in demand in mainland China. Because they are used in cosmetics and scents, esters will see an increase in demand in the US. There will also be growth in other areas, including India and Central and South America. The benzyl chloride market has been developed in North America and Western Europe. The use of benzyl chloride is anticipated to rise in North America. While demand in the rest of the globe is anticipated to expand gradually, another Asian demand is anticipated to increase at a higher rate annually during the projection period. The main market in Western Europe is the consumption of benzyl chloride for the manufacturing of benzyl alcohol. Solvents, ballpoint pen inks, and chemical intermediates are a few examples of products in this market where slow development is predicted. Neither Japan nor the United States is benzyl alcohol produced from benzyl chloride.
Global Benzyl Chloride Market: Competitive Landscape
The US imposed sanctions on 4 or 5 members of Mexico's powerful CJNG cartel in October 2021. They managed all drug-related operations at the Pacific port, which eventually functioned as a gateway for Asian fentanyl compounds and precursors to methamphetamine. Methamphetamine production required 50,000 kg of benzyl chloride, which was seized at the port in early July 2021. The CJNG's plans to expand the entire organization throughout Mexico and control the lucrative synthetic drug trade into the US were under control. Versalis (Eni) and Novamont's joint venture Matrca and specialty chemicals manufacturer LANXESS have joined forces to create sustainable antimicrobial preservatives from renewable raw materials. Beginning in January 2022, LANXESS will receive bio-based raw materials derived from vegetable oils from the Matrca plant in Porto Torres (Sardinia, Italy), which LANXESS will employ to create a new line of industrial preservatives that will expand its Preventol line.
Few of the players in the Benzyl Chloride Market include LANXESS (Germany), Valtris Specialty Chemicals (US), Charkit Chemical Company LLC (US), Henan GP Chemicals Co., Ltd (China), Henan Haofei Chemical Co., Ltd (China), The Chemical Company (US), DanyangWanlong Chemical Co., Ltd (China), Shimmer Chemicals Pvt. Ltd (India), KLJ Group (India), and JiangyinJianheng Chemical Co., Ltd (China)
Global Benzyl Chloride Market is Segmented as Below:
By End Use Industry
Key Elements Included In The Study: Global Benzyl Chloride Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more