At 5.1% CAGR, Asia Pacific Benzyl Chloride Market is Projected to be Worth US$ 434.71 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific benzyl chloride market was valued at US$ 291.71 million in 2023 and is projected to reach US$ 434.71 million by 2031, recording a CAGR of 5.1% from 2023 to 2031. Rise in demand for benzyl chloride in manufacturing benzyl alcohol and rising demand from personal care industry are among the critical factors attributed to drive the Asia Pacific benzyl chloride market growth.

Benzyl chloride is used as an intermediate or substrate for the production of benzyl alcohol. Benzyl alcohol is a colorless liquid with a pleasant aroma and mild fragrance. It is used as a solvent, preservative, fragrance fixative, and intermediate in coatings, color pastes, construction chemicals, fragrances, cosmetics, adhesives, plastics, textile auxiliaries, and agrochemicals. In food and beverages, benzyl alcohol is used in synthetic flavoring agents. Benzyl alcohol is also used as a preservative, emollient, and moisturizer in cosmetic products such as hair dyes, sunscreens, shampoos, conditioners, skincare products, and other personal care products. It has a mild fragrance and pleasant aroma, making it suitable for use in skincare and haircare products. Benzyl alcohol is a highly valued ingredient in fragrance, perfumery, personal care & cosmetics industries due to its low volatility and low toxicity.

Benzyl alcohol is widely used in various end-use industries and is witnessing massive demand. Thus, the rising demand for benzyl alcohol fuels the requirement for benzyl chloride, significantly propelling the global benzyl chloride market growth.

On the contrary, fluctuating raw material prices hampers the growth of Asia Pacific benzyl chloride market.

Based on derivative, the Asia Pacific benzyl chloride market is categorized into benzyl quaternary ammonium compounds, benzyl alcohol, benzyl cyanide, benzyl esters, benzyl phthalates, and others. The benzyl alcohol segment held 52.1% market share in 2023, amassing US$ 152.12 million. It is projected to garner US$ 229.06 million by 2031 to register 5.2% CAGR during 2023–2031.

In terms of end use industry, the Asia Pacific benzyl chloride market is segmented into polymers, personal care and cosmetics, household products, pharmaceuticals, textiles, agrochemicals, paints and coatings, water treatment, oil and gas, and others. The paints and coatings segment held 23.3% market share in 2023, amassing US$ 67.87 million. It is projected to garner US$ 103.43 million by 2031 to register 5.4% CAGR during 2023–2031.

Based on country, the Asia Pacific benzyl chloride market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 51.9% share of Asia Pacific benzyl chloride market in 2023. It was assessed at US$ 151.31 million in 2023 and is likely to hit US$ 232.25 million by 2031, registering a CAGR of 5.5% during 2023–2031.

Key players operating in the Asia Pacific benzyl chloride market are FUJIFILM Wako Pure Chemical Corp, Jiangsu Wanlong Chemical Co Ltd, KADILLAC Chemicals Pvt Ltd, Lanxess AG, Shimmer Chemicals Pvt Ltd, Zhengzhou Meiya Chemical Products Co Ltd, Valtris Specialty Chemicals Inc, Tokyo Chemical Industry Co Ltd, and Sinochem Holdings Corp Ltd, among others.

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