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Chlorobenzene Market Growth Landscape in the Foreseeable Future
The global chlorobenzene market was valued at $1,787.3 million in 2015, and it is expected to grow at a CAGR of 5.4% during 2016 - 2022.
The factors driving the growth of the global market include large base of end-users, large volume application in chemical industry, and increasing consumption in Asia-Pacific. The growth of the global chlorobenzene market is largely driven by high demand for chlorobenzene in manufacturing of dyes and pigments, pesticides, pharmaceuticals and several other organic chemicals. In addition, the increasing consumption of chlorobenzene in Asia-Pacific is fueling the growth of the global market. The growing demand for chlorobenzene in personal care and pharmaceutical is creating ample growth opportunities for the manufacturers of chlorobenzene.
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the monochlorobenzene segment held the largest share with 71.6% in terms of volume and 67.7% in terms of value in 2015. The paradichlorobenzene segment is anticipated to witness the highest growth (6.7% in terms of value) during 2016 – 2022. The increasing production of polyphenylene sulfide in China, Japan, and the U.S. is fuelling the demand for Paradichlorobenzene.
In 2015, Asia-Pacific held the largest share (79.3% in terms of volume) in the global chlorobenzene market. The region is also anticipated to be the fastest growing market for chlorobenzene, growing at a CAGR of 5.8% in terms of value during the forecast period. The major reason behind the growth of the chlorobenzene market in the region is high consumption of chlorobenzene in China and Japan. China held the largest share in the Asia-Pacific chlorobenzene market, as well as in the global market in 2015.
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Among the different applications of chlorobenzene, the nitrochlorobenzene segment held the largest share in the global chlorobenzene market in 2015 in terms of volume as well as value. A large share of monochlorobenzene produced globally is utilized in the manufacturing of nitrochlorobenzene.
Some of the players operating in the global chlorobenzene market include Beckmann-Kenko GmbH, Jiangsu Yangnong Chemicals Group Co., Ltd., Meryer (Shanghai) Chemical Technology Co., Ltd., J&K Scientific Ltd, China Petrochemical Corporation, Kureha Corporation, Applichem GmbH and Chemada Fine Chemicals.
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