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.
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.
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.
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
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.
Key segments that contributed to the derivation of the global benzyl chloride market analysis are derivative, and end-use industry.
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.
The regional trends and factors influencing the Benzyl Chloride Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Benzyl Chloride Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 457.52 Million |
| Market Size by 2031 | US$ 670.74 Million |
| Global CAGR (2023 - 2031) | 4.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Derivative
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Benzyl Chloride Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Benzyl Chloride Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
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:
The “Benzyl Chloride Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Benzyl Chloride Market
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.