chlorotoluene market size Analysis Outlook (2023-2030) Business Growth, Cost, Type, Size, Key Products, Top Manufacturers
chlorotoluene market size Overview:
Chlorotoluene Market is projected to be worth USD 3,654.70 Million by 2028, registering a CAGR of 6.2% during the forecast period (2021–2028).
Chlorotoluene is an important intermediate in the pharmaceuticals and agrochemical industries. Monochlorotoluenes in their pure form such as o-chlorotoluene, p-chlorotoluene, and m-chlorotoluene are further separated from the chlorotoluene mixture using various separation techniques, including fractional distillation and selective adsorption. Pure chlorotoluene is used as a solvent in chemical processing and in the formulation of agricultural pesticides. Increasing demand for chlorotoluene in the manufacturing of pesticides and plant growth regulators, coupled with significant growth of the agrochemicals industry, is expected to drive the growth of this market during the assessment period.
Competitive Analysis:
Some of the key players operating in the chlorotoluene market size are WeylChem International GmbH (Germany), Valtris Specialty Chemicals (US), Lanxess (Germany), Gujarat Alkalies and Chemicals Ltd (India), Toray Industries Inc (Japan), IHARANIKKEI Chemical Industry Co. Limited (Japan), Merck KGaA (Germany), Changzhou Yuanfeng Chemical Co. Ltd (China), Shimmer Chemicals Pvt Ltd (India), and Shandong Exercise Chemical Co. Ltd (China).
Market Segmentation:
The global chlorotoluene market has been categorized on the basis of type, end-use industry, and region.
By type, the global chlorotoluene market has been categorized into o-chlorotoluene, p-chlorotoluene, and chlorotoluene mixture. The o-chlorotoluene segment is anticipated to account for the largest market share during the forecast period. This can be attributed to the widespread use of the product in the manufacturing of various agrochemicals, such as pesticides, herbicides, growth regulators, fungicides,and acaricides. Agrochemicals are primarily used for crop protection and to increase agricultural productivity. In addition, o-chlorotoluene is used to produce benzyl chloride, which is used on a large scale in the cosmetics, pharmaceuticals, agrochemicals, and paints industries. Increasing demand for benzyl chloride in these applications is expected to consequently boost demand for chlorotoluene and favor the market growth during the review period.
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Based on the end-use industry, the global chlorotoluene market is segmented into chemicals, agrochemicals, paints & coatings, pharmaceuticals, personal care, polymers, and others. The agrochemicals industry is expected to account for the largest share of this market during the review period. Owing to the increasing global population, the demand for food is growing at a significant rate. To cater to this increasing food demand, the use of agrochemicals is likely to surge to increase productivity during the forecast period. There is a significant demand for agrochemicals in China, Brazil, India, and South Africa, which is expected to fuel the demand for chlorotoluene during the forecast period.
Regional Analysis:
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global chlorotoluene market. In 2017, Asia-Pacific dominated the global chlorotoluene market owing to the increasing demand for the product in the agrochemicals and pharmaceutical industries. Furthermore, the pharmaceutical industry is growing at a rapid CAGR in this region, which is expected to propel the growth of the regional market in the coming years.
North America and Latin America are the other substantial regional markets in the global chlorotoluene Market Share by Company. Europe accounted for a significant market share, by volume, in 2017, but is expected to witness moderate growth, during the forecast period, as the market is mature in the region.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce Merchants
4.1.4 End-Use Industry/Applications
4.2 Porter’s Five Forces Analysis
4.2.1 Threat Of New Entrants
4.2.2 Bargaining Power Of Buyers
4.2.3 Bargaining Power Of Suppliers
4.2.4 Threat Of Substitutes
4.2.5 Intensity Of Competitive Rivalry
5 Industry Overview Of Global Chlorotoluene Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends
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