Report : Europe Benzyl Chloride Market Forecast to 2031 – Regional Analysis – by Derivative (Benzyl Quaternary Ammonium Compounds, Benzyl Alcohol, Benzyl Cyanide, Benzyl Esters, Benzyl Phthalates, and Others) and End-Use Industry (Polymers, Personal Care and Cosmetics, Household Products, Pharmaceuticals, Textiles, Agrochemicals, Paints and Coatings, Water Treatment, Oil and Gas, and Others)
At 4.6% CAGR, Europe Benzyl Chloride Market is Projected to be Worth US$ 131.57 million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Europe benzyl chloride market was valued at US$ 92.14 million in 2023 and is projected to reach US$ 131.57 million by 2031, recording a CAGR of 4.6% from 2023 to 2031. Strategic initiatives by key market players and rising demand from personal care industry are among the critical factors attributed to drive the Europe benzyl chloride market growth.
Benzyl chloride manufacturers are expanding their production capacities to meet the rising demand from various end-use industries. For instance, in July 2020, Valtris Specialty Chemicals—a US-based manufacturer of specialty chemical additives and precursors—expanded its production capacity of benzyl derivatives, including benzyl chloride and orthochlorobenzyl chloride, in Europe to address the rising demand for benzyl derivatives in cleaning and sanitation products due to the COVID-19 outbreak. The emphasis on cleanliness and hygiene has increased enormously after the COVID-19 outbreak which creates massive opportunities for the application of benzyl chloride in cleaning and sanitation products. The company expects massive demand for benzyl derivatives even from personal care, pharmaceuticals, construction, and automotive industries across Europe. The manufacturers of benzyl alcohol are also expanding their production capabilities, which, in turn, increases the demand for benzyl chloride as it is the precursor to manufacture benzyl alcohol. By doubling the production capacity, the company expects to provide faster international deliveries and strengthen its supply chain to cope with the rising geopolitical uncertainties. Thus, strategic initiatives by key market players are anticipated to provide strong growth opportunities to the benzyl chloride market in the near future.
On the contrary, fluctuating raw material prices hampers the growth of Europe benzyl chloride market.
Based on derivative, the Europe 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 53.0% market share in 2023, amassing US$ 48.87 million. It is projected to garner US$ 70.47 million by 2031 to register 4.7% CAGR during 2023–2031.
In terms of end use industry, the Europe 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 21.4% market share in 2023, amassing US$ 19.70 million. It is projected to garner US$ 28.74 million by 2031 to register 4.8% CAGR during 2023–2031.
Based on country, the Europe benzyl chloride market is categorized into Germany, France, Italy, UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.3% share of Europe benzyl chloride market in 2023. It was assessed at US$ 35.26 million in 2023 and is likely to hit US$ 48.28 million by 2031, registering a CAGR of 4.0% during 2023–2031.
Key players operating in the Europe benzyl chloride market are FUJIFILM Wako Pure Chemical Corp, Lanxess AG, PENTA SRO, Zhengzhou Meiya Chemical Products Co Ltd, Valtris Specialty Chemicals Inc , and Tokyo Chemical Industry Co Ltd, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com