H1 2023: In North America, the price of benzyl chloride increased in the first three months of 2023. The supply chain industry in the US market was smooth, there was strong demand for benzyl chloride along with a slight rise in the downstream chemical chain industry. Market effects were brought by the increase in the consumer demand, which in turn led to increase in orders of benzyl chloride. There was a brief product shortage in the local market as a result of the supply chain's slow response time. However, market dynamics moved towards a pessimistic side in April 2023. Due to sluggish demand from the downstream dyes, solvent, and chemical industries, American market was bearish. Due to low operational expenses and a large decrease in production costs in the America, the market value of benzyl chloride significantly declined in the American market. As a result of the product's declined demand in the US market, Benzyl Chloride inventories were therefore in a surplus. From a demand perspective, the downstream chemical sectors had undergone a significant decline and looked hazy in the US. Additionally, the cost of the toluene feedstock dropped in the area, which caused the prices to continue their downward trend till June 2023 in US.
The global Benzyl Chloride market stood at approximately 55 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.38% during the forecast period until 2032.
The organic compound benzyl chloride, commonly known as chlorotoulene, is a clear liquid that is used to make plasticizers, colours, medicines, resins, and cosmetics. The skincare industry uses benzyl chloride extensively as a key ingredient in skincare products. Due to its capacity to supply crucial physical properties during the manufacturing process, it is also utilised in the plastics industry. A derived product of benzyl chloride, benzyl alcohol, is used in agrochemicals, pharmaceuticals, and epoxy hardeners.
Benzyl chloride’s application in the chemical sector for producing different compounds such as benzyl alcohol, benzyl quaternary ammonium compounds, benzyl cyanide, and benzyl esters are considered to be the market drivers. Benzyl alcohol is one of the most often used applications for benzyl chloride and is used in a variety of items, including solvents, natural health products, cosmetics, flavourings, and textile colours. As a result, it can be deduced that the demand for benzyl chloride will most likely rise as benzyl alcohol is synthesized and put to use in many more applications. Furthermore, there is a need for the production of benzyl quaternary ammonium compounds, and major companies are observing in supply demands to meet the need. During the forecast period, the demand for benzyl chloride is expected to increase due to the rising need for benzyl alcohol in the paints and coatings industry.
Based on region, Asia Pacific holds the top position in the Benzyl Chloride market. It is anticipated that the Asia Pacific will continue to dominate the market throughout the projected period due to the strong demand for it in end-use sectors in this region, including the quickly expanding pharmaceutical industry and the paint and coating industries. The principal regions for this market's growth are most likely to be South East Asia, China, and India. In mainland China and India, usage of benzyl chloride for the manufacturing of benzyl alcohol has surged and will continue to rise sharply. In mainland China, benzyl alcohol is increasingly employed in a wide range of products, including solvents, perfumes, flavours, 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. In addition, it is used for fragrances, medicines, and other purposes. The main market in Western Europe is the consumption of benzyl chloride for the manufacturing of benzyl alcohol.
Based on the end-user industry, the global Benzyl Chloride market is segmented into Benzyl Alcohol, Benzyl Quaternary Ammonium Compounds, Benzyl Cyanide, Benzyl Esters, and Others. Among these, Benzyl Alcohol is the leading segment and held about 56% of the global Benzyl Chloride market in 2022. The market for benzyl chloride prospered from a high demand for derivatives. Benzyl alcohol, which is used in products like solvents, herbal remedies, cosmetics, flavorings, and textile colors, is one of the most widely used applications for benzyl chloride.
Major players in the Global Benzyl Chloride market are LANXESS, Charkit Chemical Company LLC, Henan GP Chemicals Co., Ltd, Henan Haofei Chemical Co., Ltd, SOMATCO, Kadillac, Shimmer Chemicals Pvt. Ltd, KLJ Group, Henan Yindu Chemical Co Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Benzyl Chloride which covers production, demand and supply of Benzyl Chloride market in the globe.
• To analyse and forecast the market size of Benzyl Chloride
• To classify and forecast Global Benzyl Chloride market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Benzyl Chloride market in the globe.
To extract data for Global Benzyl Chloride market, primary research surveys were conducted with Benzyl Chloride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Benzyl Chloride market over the coming years.
ChemAnalyst calculated Benzyl Chloride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Benzyl Chloride. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Benzyl Chloride manufacturers and other stakeholders
• Organizations, forums and alliances related to Benzyl Chloride distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Benzyl Chloride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Benzyl Chloride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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55 thousand tonnes
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Market size Volume in 2032
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85 thousand tonnes
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Growth Rate
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CAGR of 4.38% from 2023 to 2032
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Benzyl Alcohol, Benzyl Quaternary Ammonium Compounds, Benzyl Cyanide, Benzyl Esters, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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