- Monochlorobenzene is an aromatic organic compound with chemical formula C6H5Cl. This is a colorless and flammable liquid, and it is an extensively utilized intermediate in the manufacturing of various chemicals. Monochlorobenzene is majorly employed as an intermediate in the production of several products such as herbicides, dyestuffs, and rubber. Monochlorobenzene is also utilized as a high-boiling solvent in the production of paints, adhesives, paint removers, dyes, polishes, and drugs.
Key Drivers of Global Monochlorobenzene Market
- The monochlorobenzene market is expected to expand at a significant pace during the forecast period. Expansion of the chemical sector and increasing demand for monochlorobenzene in chemical intermediates is anticipated to drive the market in the near future.
- Significant production of paint and pesticide is estimated to fuel the monochlorobenzene market during the forecast period. Monochlorobenzene is majorly used as a raw material for the synthesis of various chemicals including phenyl silane, triphenylphosphine, and thiophenol. Furthermore, it is also used for the synthesis of solvents including paint and ink, agricultural adjuvants, methylene-diphenyl diisocyanate, urethane raw material, and cleaning solvent for electronics.
- It is also utilized in the manufacture of room deodorants, polyphenylene sulfide resin, and moth control. Orthodichlorobenzene is employed as a solvent in engine cleaners, paint removers, deinking, and toluene diisocyanate process.
Nitrochlorobenzene Application Segment to Dominate Global Market
- Based on application, the nitrochlorobenzene segment accounted for a major share of the global monochlorobenzene market in 2020. Nitrochlorobenzenes are used as intermediates in the manufacture of agricultural chemicals, rubberchemicals, antioxidants, dyes and pigments, and constitutes a major application of monochlorobenzene.
- Increasing demand for dyes in the textile industry and the launch of several high-quality pigments are expected to drive the demand for monochlorobenzene in dye manufacturing during the forecast period
Chemicals End-use Industry Segment to Dominate Global Market
- The chemicals end-use industry segment dominated the market in 2020. This segment is anticipated to expand significantly during the forecast period, owing to a rise in the use of monochlorobenzene as solvent in various chemical processes.
- The pharmaceuticals end-use segment is expected to expand at a considerable rate during the forecast period. Rapid expansion of the pharmaceutical industry is anticipated to boost the demand for monochlorobenzene in drug manufacturing.
Availability of Substitutes to Hamper Global Market
- Availability of substitutes of alternative chemistry such as phenol, rubber chemicals, and moth control agents is expected to hamper the market for the next few years. Rising concern about the environment has prompted several governments across the globe to ban the use of a few hazardous pesticides such as dichlorodiphenyltrichloroethane, which in turn is anticipated to restrain the monochlorobenzene market in the near future.
Covid-19 Impact on Monochlorobenzene Market
- The COVID-19 pandemic has led to interruption of various manufacturing facilities, disruption of the supply chain, and reduced demand for various chemical products. China, a major supplier of chemicals across the world, registered a considerable decline in manufacturing in 2020. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers to reduce their production.
- However, demand is anticipated to a rise in 2021 and 2022, owing to recovery of the economy and steady progress of various end-use sectors
Asia Pacific to Hold Significant Share of Global Monochlorobenzene Market
- In terms of region, the global monochlorobenzene market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the market for monochlorobenzene in 2020. Rising demand for monochlorobenzene in China and India along with significant capital investments in these countries has boosted the overall consumption of monochlorobenzene. Integration of benzene facilities in the region is expected to play a major role in the future production of monochlorobenzene in the region.
- Increasing usage of various derivatives of monochlorobenzene in dyes and pesticides is expected to fuel the market in Asia Pacific. Rising demand for dyes from the textile sector along with increasing demand for pesticides, owing to the presence of vast agricultural lands in the region, is expected to drive the demand for monochlorobenzene during the forecast period.
- The market in North America is projected to expand at a significant pace during the forecast period. The monochlorobenzene market in North America is dominated by the U.S. The presence of a large number of downstream chemical manufacturers in the region along with the establishment of specialty chemical manufacturing facilities has boosted the consumption of monochlorobenzene in the country.
Key Players Operating in Market
The global monochlorobenzene market continues to remain consolidated among a few large players, which currently account for majority of the share. Companies are focusing on expanding their regional footprint. Key players operating in the global monochlorobenzene market include:
- China Petrochemical Corporation
- TW Reagents Division (PanReac Applichem)
- Anhui Bayi Chemical Industry
- Chemada Fine Chemicals
- J&K Scientific Ltd
- Jiangsu Yangnong Chemicals Group Co., Ltd.
- Kureha Corporation
Global Monochlorobenzene Market: Research Scope
Global Monochlorobenzene Market, by Application
- Moth Control
- Polyphenylene Sulfide
- Polysulfone Polymers
- Room and Sanitary Deodorants
Global Monochlorobenzene Market, by End-use Industry
- Paints & Coatings
Global Monochlorobenzene Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The following regional segments are covered comprehensively:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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