The global benzyl chloride market is projected to reach US$ 670.74 million by 2031 from US$ 457.52 million in 2023. The market is expected to register a CAGR of 4.9% during 2023–2031. The rising demand from the personal care industry is likely to remain a key trend during the forecast period.
Global Benzyl Chloride Market Analysis
The utilization of benzyl chloride for production of benzyl alcohol significantly drives the market. Benzyl chloride is used as an intermediate or substrate for the production of benzyl alcohol. Benzyl alcohol is a colorless liquid with a pleasant aroma and mild fragrance. It is used as a solvent, preservative, fragrance fixative, and intermediate in coatings, color pastes, construction chemicals, fragrances, cosmetics, adhesives, plastics, textile auxiliaries, and agrochemicals. Benzyl alcohol is a highly valued ingredient in fragrance, perfumery, and personal care & cosmetics industries due to its low volatility and low toxicity. Benzyl alcohol is widely used in various end-use industries and is witnessing massive demand. The rising demand for benzyl chloride for benzyl alcohol production is driving the market growth.
Global Benzyl Chloride Market Overview
Benzyl chloride is utilized in the synthesis of pesticides, herbicides, and fungicides, which are essential for enhancing crop yields and protecting agricultural produce from pests and diseases. With the increasing global demand for food and the growing need to maximize agricultural productivity, the requirement for agrochemicals is on the rise, consequently boosting the demand for benzyl chloride as a key ingredient in their production. Additionally, the expanding chemical industry, driven by economic growth, industrialization, and technological advancements, contributes to the increasing demand for benzyl chloride. As new applications and markets emerge, the demand for benzyl chloride as a versatile chemical intermediate is expected to continue growing.
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Benzyl Chloride Market: Strategic Insights
Market Size Value in US$ 457.52 Million in 2023 Market Size Value by US$ 670.74 Million by 2031 Growth rate CAGR of 4.9% from 2023 to 2031 Forecast Period 2024-2031 Historic Period 2021-2022
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Benzyl Chloride Market: Strategic Insights
| Market Size Value in | US$ 457.52 Million in 2023 |
| Market Size Value by | US$ 670.74 Million by 2031 |
| Growth rate | CAGR of 4.9% from 2023 to 2031 |
| Forecast Period | 2024-2031 |
| Historic Period | 2021-2022 |
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Global Benzyl Chloride Market Drivers and Opportunities
Robust Growth of Paints & Coatings Industry to Favor Market
Benzyl chloride is used as a precursor for various chemicals that act as an intermediate in the production of paints and coatings. It is utilized in the synthesis of benzyl esters and benzyl ethers, which are commonly employed as solvents, plasticizers, and additives to modify the properties of paints and coatings. Benzyl chloride also allows the manufacturing of specialty coatings with unique characteristics such as viscosity, adhesion, durability, and enhanced performance. Thus, the growth of the paints & coatings industry drives the benzyl chloride market
Strategic Initiatives by Key Market Players
Benzyl chloride manufacturers are expanding their production capacities to meet the rising demand from various end-use industries. For instance, in July 2020, Valtris Specialty Chemicals—a US-based manufacturer of specialty chemical additives and precursors—expanded its production capacity of benzyl derivatives, including benzyl chloride and orthochlorobenzyl chloride, in Europe to address the rising demand for benzyl derivatives in cleaning and sanitation products due to the COVID-19 outbreak. Thus, strategic initiatives by key market players are expected to fuel the benzyl chloride market growth during the forecast period.
Global Benzyl Chloride Market Report Segmentation Analysis
Key segments that contributed to the derivation of the global benzyl chloride market analysis are derivative, and end-use industry.
- Based on derivative, the global benzyl chloride market is segmented into benzyl quaternary ammonium compounds, benzyl alcohol, benzyl cyanide, benzyl esters, benzyl phthalates, and others. The benzyl alcohol segment held the largest market share in 2023.
- Based on end-use industry, the global benzyl chloride is segmented into polymers, personal care and cosmetics, household products, pharmaceuticals, textiles, agrochemicals, paints and coatings, water treatment, oil and gas, and others. The paints and coatings segment held the largest market share in 2023.
Global Benzyl Chloride Market Share Analysis by Geography
The geographic scope of the global benzyl chloride market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific dominated the global benzyl chloride market in 2023. The requirement for benzyl chloride has been steadily increasing in Asia Pacific due to the rising demand for pharmaceuticals, agrochemicals, and personal care products. Asia Pacific is experiencing rapid industrialization, leading to an increased need for benzyl chloride in the production of dyes, pharmaceuticals, polymers, and other industrial chemicals. As a versatile chemical intermediate, benzyl chloride finds application in the synthesis of numerous compounds, further boosting its demand across diverse sectors. According to the Invest India report, the Indian pharmaceutical industry ranks third across the world in pharmaceutical production by volume and was valued at US$ 50 billion in 2023. The region also marks the presence of major agrochemical producers such as India, China, and Japan.
Global Benzyl Chloride Market Report Scope
Global Benzyl Chloride Market News and Recent Developments
The global benzyl chloride market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the benzyl chloride market are listed below:
- Valtris partnered with Barentz as a distribution channel for the US and Canada, recognizing their technical solid capabilities for Mixed Metal Stabilizers, Biocides, Vulcabond bonding agents, and Santicizer products. (Source: Valtris Specialty Chemicals Inc, Company Website/ News Release, 2024)
- LANXESS acquired Emerald Kalama Chemical. It enables LANXESS to provide flavors and fragrances for the consumer sector, including personal care products, cosmetics, and exclusive fragrances. The new Flavors & Fragrances business unit includes benzyl alcohol. (Source: Lanxess AG, Company Website/ News Release, 2021)
Global Benzyl Chloride Market Report Coverage and Deliverables
The “Benzyl Chloride Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Benzyl chloride market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Benzyl chloride market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Benzyl chloride market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the benzyl chloride market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The benzyl chloride market is expected to register a CAGR of 4.9% during 2023-2031.
The benzyl chloride market is estimated to reach US$ 670.74 million by 2031.
The rising demand from personal care industry is one of the significant future trends of benzyl chloride market.
Asia Pacific dominated the benzyl chloride market in 2023.
The robust growth of paints and coatings industry, and rise in demand for benzyl chloride in manufacturing of benzyl alcohol are some of the driving factors positively impacting the benzyl chloride market.
FUJIFILM Wako Pure Chemical Corp, Jiangsu Wanlong Chemical Co Ltd, Lanxess AG, PENTA SRO, and Valtris Specialty Chemicals Inc, are some of the leading players operating in the benzyl chloride market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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