Monochlorobenzene Industry Size, Share, Demand & Growth by 2033
The Monochlorobenzene Market is forecast to experience a growth of 3.5% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 1,915.1 million in 2023.
The monochlorobenzene is also in high demand in the
textile industry, which produces pigments and dyes. Monochlorobenzene is
deployed to make inks, paint removers, dyes, and pigments that later form the
fiber of textile clothing. The accelerated growth of the textile industry
worldwide is positively impacting the global market.
Trichlorobenzene, a type of monochlorobenzene, finds
extensive application in the pharmaceutical industry to combine the
intermediates of different medicines, such as vitamin supplements and
antibiotics. Authority departments like the United Nations Industrial
Development Organization (UNIDO) have taken it upon themselves to invigorate
the domestic production of necessary generic drugs in underdeveloped and
developing economies like Kenya, Nigeria, and Ethiopia.
Research and development procedures for novel drugs to
cure prevailing diseases have escalated over the past few years. This is
projected to create a noticeable impact on the market development.
The chemical further finds use in the production of
high-performing polymers. In addition, the huge volume of monochlorobenzene is
used as an agrochemical and a solvent for rubber production.
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As per India Brand Equity Foundation (IBEF), the
Indian textile industry shared 7% of the overall industry outcome in 2019. The
sector also attracted a capital investment of US$ 1.44 billion under
the incentive scheme for technical textiles and manmade fiber in 2020. This
development is projected to have a beneficial impact on the monochlorobenzene
industry.
Top Highlights from the FMI’s Analysis of
the Monochlorobenzene Market:
- The
United States monochlorobenzene industry is projected to acquire a market
share of 19.3% in 2023.
- The
German monochlorobenzene industry constitutes a value share of 16.3% in
the present market.
- Japan
is estimated to contribute a 2.6% share of the global market.
- Australian
monochlorobenzene industry is assessed to acquire a 0.8% market share in
2023.
- The
China monochlorobenzene industry is projected to register a CAGR of 2.8%
over the forecast period.
- The
India monochlorobenzene industry is anticipated to expand at a CAGR of
3.3% over the estimated period.
- The
United Kingdom’s monochlorobenzene industry is expected to witness a
sluggish growth rate of 1.7% over the forecast period.
- Based
on the type category, nitrochlorobenzene is projected to accumulate a
market share of 44.3% in 2023.
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at Future Market Insights (FMI)
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nanotechnology in particular, with special emphasis on ‘green alternatives,
recycling and renewable technology developments, and supply-demand-trade
assessment. Our research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners, and government
bodies for developing — ‘The Way Forward’.
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