Chlorotoluene Market Share, Future Developments, Upcoming Trends, and Top-Vendor Landscape to 2030
Chlorotoluene Market 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 a chemical compound that is used as an intermediate in the production of a variety of other chemicals. It is a colorless liquid with a pungent odor and is soluble in most organic solvents.
The global chlorotoluene market is driven by its use in the production of various chemicals such as pesticides, dyes, pharmaceuticals, and fragrances. The market is also driven by the growth of the chemical industry in developing regions, such as Asia-Pacific and the Middle East, which have seen significant growth in recent years.
The market for chlorotoluene is expected to experience moderate growth over the next few years due to the increasing demand for chemicals and their derivatives in various industries. The demand for chlorotoluene is expected to be particularly high in the Asia-Pacific region, which is home to many emerging economies and a growing chemical industry.
The market for chlorotoluene is also driven by the growing demand for pesticides in agriculture. Chlorotoluene is used as an intermediate in the production of several types of pesticides, which are used to protect crops from pests and diseases.
Competitive Analysis:
Some of the key players operating in the global chlorotoluene market 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 Exceris Chemical Co. Ltd (China).
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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.
Based on end-use industry, the global chlorotoluene Competition Strategy 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 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. 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 the 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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