H1 2023: Throughout Q1, 2023, Benzoyl Chloride experienced an upward price trend. The logistics industry in the USA market demonstrated heightened activity, increased sales in both the supply chain and downstream sectors, coupled with stable inventories, which led in high prices. Surges in consumer demand initiated an effect, prompting incremental orders up the supply chain to avert potential stockouts. Despite these fluctuations, the supply chain response was not immediate, resulting in a minor product shortage within the regional market. Traders in the North American region reported a relatively steady stock of the raw material Carbonyl Chloride during Q1 2023. However, April onwards, prices in the American region experienced a continuous decline, influenced by weak demand from downstream sectors such as agriculture, pharmaceuticals, etc. There was a rise in inventories amid increased product consumption. Additionally, the decline in crude oil prices from April to June alleviated cost pressures, subsequently reducing the production cost of benzoyl chloride. The dwindling demand for the downstream product, Benzoyl Peroxide, contributed to reduced prices. Other factors like, freight charges also saw a decrease in the American market. The accumulation of inventories for Benzoyl Chloride, coupled with reduced procurement from pharmaceutical industry, impacted market sentiments and pushed towards a pessimistic side.
The global Benzoyl Chloride market stood at approximately 102 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.12% during the forecast period until 2032. Benzoyl chloride is derived from benzotrichloride through the utilization of either water or benzoic acid in the production process.
Benzoyl chloride can be employed to synthesize organic building blocks, including N,N-diethylbenzamide through condensation with diethylamine, N-2-bromophenylbenzamide via N-benzoylation with 2-bromoaniline, and propargyl benzoate through O-benzoylation of propargyl alcohol. Benzoyl chloride serves as a crucial intermediate in the production of the herbicide metamitron and the insecticide propargite, playing a pivotal role in the synthesis of benzene hydrazine, a key component in the food industry. Additionally, it is a versatile compound utilized in organic synthesis, dye production, and pharmaceutical raw materials, as well as in the manufacturing of initiators such as benzoyl peroxide and t-butyl peroxybenzoate. In the realm of pesticides, benzoyl chloride stands as a foundational component for a novel insecticide, particularly serving as an intermediate in the synthesis of isoxazole parathion (Isoxathion, Karphos). Furthermore, benzoyl chloride holds significance as a vital reagent in benzoyl and benzyl-related processes. Its predominant use lies in the production of benzoyl peroxide, followed by applications in the synthesis of benzophenone, benzyl benzoate, and benzyl cellulose.
Benzoyl chloride undergoes dynamic market growth influenced by various factors. Its significance in the pharmaceutical industry for synthesizing benzoyl peroxide in dermatological products and its role in the plastics and polymers sector contribute to its expanding market. Additionally, heightened demand in agrochemical applications, particularly in herbicides and insecticides, corresponds to increased agricultural activities. Serving as a crucial intermediate in chemical synthesis, benzoyl chloride benefits from the overall growth of the chemical manufacturing sector. The rising demand for specialty chemicals further emphasizes its importance in the market. Furthermore, benzoyl chloride's applications in cosmetic and personal care products align its growth with the thriving cosmetic industry. Collectively, these factors highlight the versatility of benzoyl chloride and its integral role across various industries, shaping a resilient and evolving market landscape. Owing to these reasons, the global Benzoyl Chloride market is likely to touch roughly 150 thousand tonnes in the year 2032.
Based on region, North America holds the top position in the Benzoyl Chloride market. North America commands a preeminent position in the global Benzoyl chloride market due to its pivotal role in key industries. The region serves as a major consumption hub for Benzoyl chloride, particularly in pharmaceuticals, agrochemicals, and polymer production, driving robust demand. Strategic investments and collaborative initiatives among industry leaders underscore North America's commitment to innovation, contributing to a competitive edge. Adherence to stringent regulatory standards in production processes enhances the market reputation of North American Benzoyl chloride. The thriving pharmaceutical and agrochemical sectors in the region, propelled by expanding healthcare and agriculture industries, amplify demand. Positioned as an innovation hub, North America's continuous research and development efforts, coupled with the introduction of novel applications and derivatives, solidify its leadership and influence in shaping the global Benzoyl chloride landscape.
Based on the end-user industry, the global Benzoyl Chloride market is segmented into Pharmaceuticals, Agrochemical, Chemical, and Others. Among these, Pharmaceuticals is the leading segment and held about 47% of the global Benzoyl Chloride market in 2022.
Major players in the Global Benzoyl Chloride market are Junsei Chemical Co.,Ltd, Prakash Chemicals International Private Limited (PCIPL), Sheetal Chemicals, Shital Chemical Industries, Valtris Specialty Chemicals, Nacalai Tesque, Inc., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Benzoyl Chloride which covers production, demand and supply of Benzoyl Chloride market in the globe.
• To analyse and forecast the market size of Benzoyl Chloride
• To classify and forecast Global Benzoyl Chloride market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Benzoyl Chloride market in the globe.
To extract data for Global Benzoyl Chloride market, primary research surveys were conducted with Benzoyl Chloride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Benzoyl Chloride market over the coming years.
ChemAnalyst calculated Benzoyl Chloride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Benzoyl Chloride. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Benzoyl Chloride manufacturers and other stakeholders
• Organizations, forums and alliances related to Benzoyl Chloride distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Benzoyl Chloride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Benzoyl Chloride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
102 thousand tonnes
Market size Volume in 2032
150 thousand tonnes
Growth Rate
CAGR of 4.12% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Pharmaceuticals, Agrochemical, Chemical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was global market size of Benzoyl Chloride in terms of volume in 2022?
Ans:
The global market size of Benzoyl Chloride has reached approximately 102 thousand tonnes in the year 2022.
Q2.
Which industry is leading as a consumer of Benzoyl Chloride?
Ans:
Pharmaceuticals industry is the leading consumer of Benzoyl Chloride, which consumed roughly 47% of the global Benzoyl Chloride market in 2022.
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