Global Benzotrichloride Market: Outlook
Benzotrichloride, which is also known as trichlorotoluene, is an organic compound with the chemical formula C6H5CCl3. It is a clear colorless to yellowish colored liquid, which is oily, unstable, and chlorinated hydrocarbon with penetrating odor. It is generally used as an intermediate in the preparation of other chemical products such as dyes. Benzotrichloride is also employed in the manufacture of benzoyl chloride, chlorinated toluene, and benzotrifluoride. It is also used as dyestuff intermediate. Benzotrichloride is produced by the free radical chlorination of toluene, which is catalyzed by light or radical initiators such as dibenzoyl peroxide. Its derivatives are used as ultraviolet (UV) stabilizers in plastic and to manufacture antiseptics and antimicrobial agents. It is also known by different names such as trichloromethy benzene, and phenylchloroform. Benzotrichloride is insoluble in water. It releases toxic and corrosive fumes when it reacts with water or steam. This chemical is classified as an extremely hazardous substance in the U.S. as defined in Section 302 of the U.S. Emergency Planning and Community Right-to-Know Act (42 U.S.C. 11002). It is subject to strict reporting requirements by facilities which produce, store, or use it in significant quantities.
Global Benzotrichloride Market: Drivers and Restraints
Globalization and commercialization of benzotrichloride are propelling the benzotrichloride market. Expansion in building & construction and infrastructure industries is also augmenting the benzotrichloride market. Furthermore, increase in global demand for consumer goods and commodities is estimated to boost the benzotrichloride market. On the other hand, factors such as uneven economic growth and fluctuation in prices of raw materials are projected to hamper the benzotrichloride market. Benzotrichloride is also carcinogenic. It is toxic to human beings as exposure to benzotrichloride causes skin and eye irritation, lungs infections, etc. These factors are anticipated to hamper the benzotrichloride market.
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Global Benzotrichloride Market: Key Segments
Based on product type, the benzotrichloride market can be bifurcated into benzotrichloride 99.0% and benzotrichloride 99.5%.
In terms of end-use industry, the benzotrichloride market can be divided into chemical industry, dye industry, and pharmaceuticals industry.
Based on geography, the benzotrichloride market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume, Asia Pacific holds significant share of the market owing to the rise in investment in the building & construction industry in the region due to rapid urbanization and industrialization. The market for benzotrichloride in Asia Pacific is also expected to grow at a rapid pace with a significant CAGR during the forecast period.
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Global Benzotrichloride Market: Key Players
Key players operating in the benzotrichloride market include Nippon Light Metal Company, INEOS, Changzhou Guanjin Chemical Company Limited, YiDu Jovian Industry Company Limited, Jiangsu Jiamai Chemical Company Limited, Gaoyou Gaoyuan Auxiliary Company Limited, Zhejiang Kangfeng Chemicals Company Limited, Zhejiang Weihua Chemical Company Limited, and Jiangsu ChangSanJiao Fine Chemical Company Limited.
Companies in the Benzotrichloride market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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