Monochlorobenzene Market Innovations, Technology Growth and Research by 2022-2032
The global monochlorobenzene market is expected to reach a valuation of US$ 2,592.6 Mn by 2032, with the market expanding at a dormant CAGR of 3.3% from 2022 to 2032. Valued at US$ 1,813.98 Mn in 2021, the monochlorobenzene market will likely reach an estimated US$ 1,873.9 Mn in 2022.
The escalating application of monochlorobenzene in different end-use industries drives the market growth of the same. More than half of all monochlorobenzenes are utilized in the production of nitrochlorobenzenes which, in turn, is used to produce pigment intermediates, dye, pesticides, rubber processing chemicals, organic intermediates and pharmaceuticals among others.
This, along with other monochlorobenzene subcategories propel the growth of the target market during the forecast period. An aromatic organic compound with the chemical formula C6H5Cl is referred to as monochlorobenzene . A colorless, flammable liquid, monochlorobenzene acts as a typical solvent for use as an intermediate in the manufacture of other chemicals.
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These compounds are mainly used as a medium in the production and synthesis of pesticides and a variety of other chemicals. Monochlorobenzenes are, thus, largely used in manufacture of different pesticides, insecticides, deodorizers, degreasers, fumigants and herbicides among others.
Competitive Landscape
Arkema SA, Henan Kaipu Chemical Co., Ltd., Bayer AG, PPG Industries, Inc., Jinhua, Chemical (Group) Corporation, Nanjing Chemical Industry Co.Ltd, Solutia, Inc., and Tianjin Bohai Chemical Co. Ltd., among others are some of the major players in the monochlorobenzene market profiled in the full version of the report.
Leading market players are focusing on product development and creating unique formulations to cater to the growing demand.
More Insights into Monochlorobenzene Market Report
In its latest report, FMI offers an unbiased ****ysis of the global monochlorobenzene market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032.
To understand the global market potential, growth, and scope, the market is segmented on the basis of type (p-Dichlorobenzene, o-Dichlorobenzene, m-Dichlorobenzene, Tetrachlorobenzenes, Nitrochlorobenzene, Trichlorobenzenes, Hexachlorobenzene, others), and region.
According to the latest FMI reports, based on segmentation, the Nitrochlorobenzene segment will account for a major share of the overall market in 2022 and will continue this steady growth during the forecast period. In terms of end-use, the chemical use segment will drive the demand for Nitrochlorobenzene during 2022-2032.
Based on region, the monochlorobenzene market in North America will present substantial growth by accounting for 20.8% of the overall market share in 2022.
The establishment of specialty chemical manufacturing industries coupled with rising demand for the target product in the chemical sector will propel the market growth in this region during the forecast period. Europe and Asia Pacific will also present lucrative opportunities to the monochlorobenzene market through 2032.
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