GVR Report cover Nitrochlorobenzene Market Size, Share & Trends Report

Nitrochlorobenzene Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Historical Data: ---
  • Forecast Period: 1 - 2025 
  • Industry: Bulk Chemicals

The global nitrochlorobenzene market is expected to witness growth on account of increasing application as intermediate for chemicals to manufacture fertilizers, dyes, paints, and coatings. Nitrochlorobenzene is an organic compound used as an intermediate and precursor for the production of chemicals and numerous derivatives in agriculture, pharmaceutical, paints, and coatings industries. The other applications include it as a reagent for the detection and determination of nicotinic acid and other pyridine compounds. Application growth of rubbers and waxes in the automotive and construction industries is expected to fuel the market demand in the near future.

The growth of the pharmaceutical industry in emerging markets of China and India is expected to have a positive impact on the market. Agriculture industry growth in China, India, and Brazil on account of favorable regulatory support coupled with raw material access is expected to promote the demand for fertilizers and thus in turn promote the market growth. The European Commission and EPA have framed regulatory norms intended for reducing volatile organic compounds (VOC) emissions, which have resulted in increasing demand for bio-based chemicals and likely to hamper the market growth. The National Institute for occupational safety and health declared nitrochlorobenzene as a potential occupational carcinogen which is expected to remain a challenging factor for the market in the near future. Growing demand for bio-based fertilizers on account of favorable regulatory inclination is expected to restrict nitrochlorobenzene market growth in the near future.

Nitrochlorobenzene is majorly available in three product forms including, Ortho, Meta, and Para. Ortho nitrochlorobenzene has the ability to crystallize in light yellow, monoclinic needles and is very soluble in diethyl ether, which paves its way for use in azo dye intermediates. Rising importance of rust protection in the manufacturing industry to reduce maintenance cost is expected to fuel the demand for ortho-nitrochlorobenzene in the production of corrosion inhibitors. Para nitrochlorobenzene is majorly used for the production of intermediates for azo & sulfur dyes photo chemicals, rubber chemicals, and insecticides on account of its solubility in water.

Asia Pacific is expected to be the fastest-growing market over the forecast period in light of positive agriculture industry outlook in China and India amid regulatory inclination to increase production output at the domestic level. Rapid development of pharmaceutical, pesticides, dyes, rubber, and chemical industry in China on account of easy raw material access and low manufacturing cost is expected to have a positive impact on the nitrochlorobenzene market in the near future. Construction industry growth in India owing to inclusion of infrastructure improvement as a part of the 12th Five-Year National Plan is expected to augment the demand for paints and coatings. As a result, the paints and coatings industry in India is expected to witness growth and is likely to fuel the market demand in the near future. The government of India framed Draft National Chemical Policy in February 2014, intended for increasing the country’s chemical output from 3% in 2014 to 6% by 2020. This policy is expected to promote new opportunities for market players in the near future.

Robust manufacturing base of nitric acid in the U.S. is expected to keep nitrochlorobenzene manufacturers in close proximity. Infrastructure improvement in Mexico on account of growing automobile industry at domestic level is expected to fuel the demand for paints and coatings and have a positive impact on the nitrochlorobenzene market. Expansion of the refining industry in the Middle East on account of government’s inclination to cater to the growing demand in the automotive and construction industries is expected to open new avenues for the market. Some of the nitrochlorobenzene manufacturers have launched numerous patents for enabling easy separation through crystallization and fractionation technology, which is expected to open new opportunities for the market.

Some of the key players in the nitrochlorobenzene market are BASF, Dow Chemical, Mitsubishi Chemical, LG Chem, AkzoNobel, Mitsui Chemicals, Toray Industries, Eastman Chemical Company, Monsanto and Evonik Industries. Application growth in Asia Pacific along with raw material access particularly in China and India is expected to force the manufacturers to keep their production bases in vicinity. Chemical manufacturers have started to focus on reducing greenhouse emissions and have increased their expenditure on R&D of bio-based chemicals. As a result, inclination towards bio-based chemicals by manufacturers is expected to pose a crucial challenge for market growth over the forecast period.

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