Fact.MR estimates that the global market for benzyl alcohol will be worth US$ 97 million in 2023 and will grow at a 3.5% CAGR from 2023 to 2033.
The chemical compound benzyl chloride, sometimes referred to as chlorotoluene, is a highly reactive organic substance. At room temperature, it is a colourless liquid that is frequently utilised in chemical synthesis as a crucial raw material for the creation of numerous significant chemicals. A versatile chemical, benzyl chloride can be used to make a variety of compounds, including flavours, medications, and colours, which are distinct from benzyl alcohol.
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In addition to being used to make benzyl alcohol and benzyl quats, benzyl chloride is also used to make phthalates, benzyl cyanide, and photographic developers. Due to the growth of the coatings sector, rising paint sales, and greater government investment in infrastructure, the market for benzyl chloride is anticipated to increase.
In several nations, benzyl chloride is being used more frequently as a precursor for benzyl esters in diverse applications like perfumes, flavourings, and plasticizers. In addition, benzyl chloride is being used more frequently in the healthcare and water purification industries.
Growth of the coatings industry, which requires benzyl chloride in the production of benzyl alcohol, is set to drive the demand for benzyl chloride. However, the usage of benzyl chloride carries health risks such as damage to the nervous system, skin, eyes, and lungs. Therefore, governments have established strict regulations on its use, which could limit market growth to some extent.
Key Takeaways from Market Study
- The global benzyl chloride market was valued at US$ 93.6 million in 2022.
- Worldwide demand for benzyl chloride is projected to increase at a CAGR of 3.5% during the forecast period (2023 to 2033).
- The global market is expected to reach US$ 140 million by the end of 2033.
- Benzyl alcohol accounts for 50% share of the global benzyl chloride market in 2023.
- India and mainland China collectively account for 71% of global benzyl chloride consumption.
Key Players of Benzyl Chloride Market
- Shimmer Chemicals Pvt. Ltd.
- The Chemical Company
- Henan Haofei Chemical Co
- LANXESS
- Charkit Chemical Company LLC,
- Valtris Specialty Chemicals Limited
- Finar Limited
- Lanxess India Private Limited
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In 2033, it is expected that Asia Pacific will hold a significant market share for benzyl chloride. In 2023, the combined demand for benzyl chloride across all markets would be 71% higher in China and India. In these two markets, benzyl chloride consumption will rise steadily during the ensuing years.
Production of benzyl alcohol using benzoyl chloride has significantly increased, particularly in mainland China and India. In mainland China, the demand for benzyl alcohol is rising quickly due to its use in solvents, perfumes, flavours, and personal care products as well as as an epoxy resin diluent. Florazone is used in the taste and fragrance business to create ozone, aquatic, and flowery fragrances like lily. The production technique uses ethyl benzyl chloride (EBC).
Market Competition
To stay competitive in the market, companies must develop new strategies to ensure they continue to provide value. With increasing activist-investor activities, benzyl chloride companies must enhance their capabilities to maintain their market share. To expand their customer and product base, these industry leaders are actively pursuing inorganic marketing partnerships such as acquisitions, collaborations, investments, and capacity expansions.
- In October 2021, the United States imposed sanctions on four or five members of the powerful Mexican gang CJNG. The Pacific port’s drug-related operations were under their management, serving as a gateway for Asian fentanyl compounds and methamphetamine precursors.
- Benzyl chloride was a crucial ingredient in the production of methamphetamine, and a seizure of 50,000 kg of the chemical was made at the port. The arrest of these individuals challenged the CJNG’s plans to dominate the lucrative synthetic drug trade in the US and expand their organization across Mexico.
Key Segments of Benzyl Chloride Industry
- By Application :
- Benzyl Alcohol
- Benzyl Cyanide
- Benzyl Quaternary Ammonium Compounds
- Benzyl Phthalate
- Benzyl Ester
- Others
- By End Use :
- Personal Care
- Pharmaceuticals
- Paints & Coatings
- Agrochemicals
- Others
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global benzyl chloride market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on application (benzyl alcohol, benzyl cyanide, benzyl quaternary ammonium compounds, benzyl phthalate, benzyl ester, others) and end use (personal care, pharmaceuticals, paints & coatings, agrochemicals, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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