Market Trends of Chlorobenzene Industry
Nitrochlorobenzenes to Dominate the Market
- Nitrochlorobenzenes are intermediates in manufacturing rubber, agricultural chemicals, oil additives, antioxidants, dyes, and pigments.
- It also manufactures p-nitrophenol, p-nitroaniline, p-aminophenol, phenacetin, acetaminophen, parathion, and dapsone (an antimalarial drug).
- The growing pharmaceutical industry, especially in the United States, China, Japan, India, and various other countries, is expected to boost the adoption of nitrochlorobenzenes.
- In 2022, the global prescription pharmaceutical market was valued at approximately EUR 1,222,921 million (USD 1,287,736 million) at ex-factory prices. The North American market, encompassing the United States and Canada, retained its position as the world's largest market, holding a significant 52.3% share, surpassing Europe, China, and Japan by a considerable margin.
- Furthermore, according to Statistisches Bundesamt ( a federal authority of Germany), the value of pharmaceutical production in Germany reached EUR 37.4 billion (USD 40.59 billion) in 2022 and registered growth compared with EUR 34.6 billion (USD 37.55 billion) in 2021.
- Furthermore, India is one of the major players in the agriculture sector worldwide, and it is the primary source of food for over half of its population. In 2022, the food grain yield in India was around 2,419 kilograms per hectare, and rice was the largest food grain produced in that year.
- Moreover, the Indian agricultural sector will likely increase to USD 24 billion by 2025. In 2022, the Government of India planned to launch Kisan Drones for crop assessment, digitization of land records, and spraying insecticides and nutrients.
- Therefore, the trends above across various industries will likely enhance the consumption of nitrochlorobenzenes, propelling overall industry growth.
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Asia-Pacific to Dominate the Market
- The Asia-Pacific region has asserted its dominance in the global market share. It is expected to maintain this position in the foreseeable future, driven by the expanding chemical manufacturing and pharmaceutical sectors. The rising utilization of chlorobenzene as a solvent in the production processes of rubber items, pesticides, and resins in countries like China, India, and Japan has contributed to the growing usage of chlorobenzene in the region.
- Chlorobenzene is involved in the production of synthetic rubber, serving as a solvent or reaction medium in the polymerization process of monomers like styrene and butadiene. However, efforts are underway to explore more environmentally friendly alternatives in rubber production.
- China, among the world's fastest-growing economies, is experiencing notable growth across various end-user industries, attributed to increasing population, elevated living standards, and rising per-capita income.
- According to the most recent data published by the National Bureau of Statistics, China witnessed a year-on-year decrease of 8.1%, with a total output of 809 kilotons of synthetic rubber in December 2022 and a cumulative production of 8.233 million tons from January to December, reflecting a 5.7% decline compared to the previous year.
- Furthermore, chlorobenzene plays a crucial role in the pharmaceutical industry by serving as a chemical intermediate in the synthesis of various pharmaceutical compounds and active ingredients, facilitating specific reactions in the manufacturing process. Due to its toxic nature, adherence to stringent safety regulations is paramount.
- According to the Ministry of Health, Labour and Welfare of Japan, the production value of medical drugs in Japan amounted to JPY 9.98 trillion (USD 0.066 trillion) in 2022 and registered growth when compared with JPY 9.17 trillion (USD 0.061 trillion) in 2021. Prescription drugs represent the staple products of the medical drug market, accounting for almost 92 percent of the annual production value.
- India holds a significant position in the formulation segment of the pharmaceutical industry, ranking as the third-largest global producer of pharmaceuticals by volume. India has the most significant number of FDA-approved plants outside the United States.
- The Indian pharmaceutical sector is worth USD 42 billion globally. Indian drug and pharmaceutical exports stood at USD 24.60 billion in 2022 and USD 24.44 billion in 2021. India is the primary global provider of generic drugs and is renowned for its cost-effective vaccines and generic pharmaceuticals.
- The factors mentioned above are expected to increase the consumption of chlorobenzene in various applications during the forecast period.
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