Fluorobenzene Market - Forecast(2023 - 2028)

Report Code: CMR 79928 Report Format: PDF + Excel

Fluorobenzene Market Overview

The Fluorobenzene Market size is estimated to reach a value of US$4.6 billion by the end of 2027 after growing at a CAGR of around 2.7% from 2022 to 2027. Fluorobenzene is a chemical compound that is more reactive than chlorobenzene and is highly flammable. It is produced by the reaction of aniline and sodium nitrite in the presence of hydrogen fluoride and is used as an intermediate for insecticides, reagents for plastic & resin polymer and for carbon control in steel manufacturing. Hence, the compound has high applicability in sectors like steel, agriculture, pharmaceutical and plastic. Factors like an increase in the production volume of steel, growing cases of diabetes and an increase in the production of food items on account of high global demand are driving the growth of the Fluorobenzene Market. However, the hazardous nature of fluorobenzene can cause health problems like skin & eye irritation, breathlessness, nausea and damage to kidneys. Hence such side effects can restrict the usage of fluorobenzene in some sectors like agriculture where it is used in insecticides. This can hamper the growth of the Global Fluorobenzene industry.

COVID-19 Impact

COVID-19 negatively impacted the productivity of major end-user industries of fluorobenzene such as plastic and steel. Hence, the lockdown implemented by countries across the world caused a shortage of labor and also raw material supplies was halted. Fluorobenzene is used as a reagent in plastic formation and it is used to control carbon content during steel manufacturing. Hence, due to the lack of availability of workforce and raw materials, the productivity of these sectors decreased, which negatively impacted the demand for fluorobenzene. For instance, according to PlasticEurope, in 2020, global plastic production was 367 million tonnes showing a 0.2% decrease compared to 368 million tonnes in 2019. Further, according to World Steel Association, in 2020, global crude steel production was 1,864 million tones showing a 0.9% decrease compared to 1,880 million tones produced in 2019. Such a decrease in the production level of steel and plastic led to a decrease in usage of fluorobenzene in the steel & plastic sector, which negatively impacted the growth of the Global Fluorobenzene industry.

Report Coverage

The “Fluorobenzene Market Report – Forecast (2022 – 2027)” by IndustryARC covers an in-depth analysis of the following segments in the Fluorobenzene industry.

By Grade – Technical Grade, Industrial Grade and Others.
By Packaging – Containers, Drums and Others.
By ApplicationInsecticides, Carbon Content Controller, Reagent (Plastic Reagent and Resin Polymer Reagent) and Others.
By End UserAgriculture, Pharmaceutical, Steel Industry, Plastic and Others.
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa).

Key Takeaways

  • Asia-Pacific dominates the global fluorobenzene industry as the region consists of major countries like China and India, which are leading producers of steel, plastics and agrochemicals.
  • The rapid increase in population has increased the global food demand which has increased agricultural production, resulting in more usage of fluorobenzene as an intermediate for insecticides & pesticides.
  • Fluorobenzene which is made in presence of hydrogen fluoride is also used in the pharmaceutical sector as fluorination of fluorobenzene gives 1,2difluorobenzene which is used as material in making medicine.

Figure: Asia-Pacific Fluorobenzene Market Revenue, 2021-2027 (US$ Billion)
Global Fluorobenzene Market
For More Details on This Report - Request for Sample

Fluorobenzene Market Segment Analysis – by Grade

The industrial grade segment held a significant share in the Fluorobenzene Market in 2021 and it is estimated to grow with a CAGR of 3.2% during the forecast period. Industrial grade fluorobenzene which is more reactive than chlorobenzene is majorly used in agrochemicals like insecticides & pesticides, as reagent in plastic formation and as a carbon controller in steel making. The rapid development in these sectors has increased their level of productivity which has positively impacted the usage of fluorobenzene. For instance, according to the Comprehensive report of the Food and Agriculture Organization, global pesticide usage increased during the period 2000–2019 by 36 percent, to 4.2 million tonnes in 2019. According to PlasticEurope, in 2019, global plastic production was 368 million tonnes showing a 2.5% increase compared to 359 million tones produced in 2018. Further, according to the National Bureau of Statistics, in 2020, China’s total steel output increased by 5.2% to a record 1.05 billion tonnes. An increase in pesticide consumption and production output of steel & plastic will lead to more usage of fluorobenzene in them which will positively impact the growth of global fluorobenzene industry.

Fluorobenzene Market Segment Analysis – by End-user

The steel sector held a significant share in the Fluorobenzene Market in 2021 and it is expected to grow with a CAGR of 2.5% during the forecast period. Fluorobenzene is a relatively inert compound that is majorly used in sectors such as the steel sector to control carbon content during steel manufacturing. The increase in demand for steel from major sectors such as construction & automotive has increased the global production of steel output, which has positively impacted the usage of fluorobenzene in the steel sector. For instance, according to World Steel Association, in 2019, global crude steel production reached 1,869.9 million tonnes up by 3.4% compared to 2018. Such an increase in global steel production will lead to more usage of fluorobenzene as raw material during steel manufacturing for carbon content control. This will have a positive impact on the growth of the global fluorobenzene industry.

Fluorobenzene Market Segment Analysis – by Geography

Asia-Pacific held the largest share in the Fluorobenzene Market in 2021, with a share of over 35%. The region consists of major economies like China and India which have major end-user industries like steel, plastic and agriculture that majorly uses fluorobenzene. The rapid economic development in these nations has increased their industrial productivity. For instance, according to World Steel Association, in 2019, China’s crude steel production reached 996.3 million tones up by 8.3% on 2018, while India’s crude steel production was 111.2 million tones up by 1.8%. According to Plastic Europe, in 2019, Asia with 187.68 million tonnes of plastic output held a 51% share in global plastic production with China producing 31% of Asia's plastic output. Further, according to the Comprehensive report of the Food and Agriculture Organization, in 2019, Asia held a 52-53% share of global pesticide consumption. Fluorobenzene made through hydrogen fluoride is used as a reagent in plastics, as a carbon content controller in steel making and as an intermediate for pesticides & insecticides. The increase in consumption of pesticides and production output of steel & plastic will increase the usage of fluorobenzene in these sectors which will boost the growth of the global fluorobenzene industry.

Fluorobenzene Market Drivers

Increase in Number of Diabetic Cases

Fluorobenzene which is more reactive than chlorobenzene is used in making 1,2Difluorobenzne which has high applicability in the pharmaceutical sector. Hence, the compound is used in making medicine related to human diseases like diabetes. The increase in the number of diabetic patients has increased the demand for diabetic medicine, which has positively impacted the usage of 1,2Difluorobenzene. For instance, according to the Centre for Disease Control and Prevention, in 2019, 28.7 million people of all ages or 8.7% of the US population were diagnosed with diabetes and the median county-level prevalence of diagnosed diabetes increased from 6.3% in 2004 to 8.4% in 2019. Further, according to International Diabetic Federation, in 2019, diabetic patients increased to 32.3 million showing a 92.2% increase compared to 2000. Such an increase in the number of diabetic patients will increase 1,2Difluorobenzene demand for making diabetic medicines, resulting in more usage of fluorobenzene for 1,2Difluorobenzene formation. This will boost global fluorobenzene industry growth.

Increase in Steel Production Output

Steel is valued for its strength and has become the material of choice for many sectors such as construction, automotive and also household appliances such as washing machines, dishwashers, refrigerators and microwaves. Hence due to the high applicability of steel in various sectors, the production level of this metal has also increased. For instance, according to World Steel Association, in 2021, global crude steel production increased by 3.6% 2021 to 1,191.9 million tonnes. Fluorobenzene made in presence of hydrogen fluoride is majorly used in the steel sector for carbon content control. Hence, the increase in the production output of steel will increase the usage of fluorobenzene for carbon control. This will boost the growth of the global fluorobenzene industry.

Fluorobenzene Market Challenges

Negative Effects on Health

Fluorobenzene is very hazardous in nature and exposure to it can cause shortness of breath, throat infection, dizziness, and nausea while repeated exposure can damage internal organs like livers, lungs and kidneys. Hence, such negative effects on the human body can restrict the usage of fluorobenzene in certain sectors such as agriculture where it is used as an intermediate for insecticides and pesticides. This can hamper the growth of global fluorobenzene industry. 

Fluorobenzene Industry Outlook

The companies continuously engage in mergers and acquisitions to develop a strong regional presence and strengthen their market position. The top 10 companies in the Fluorobenzene Market are:

  1. 3M Company
  2. Arkema S.A.
  3. Biddle Sawyer Corp.
  4. Shandong Minglang Chemical Co. Ltd.
  5. Luyunjia Chemistry Xiamen Limited
  6. Shanghai Mintchem Development Co. Ltd.
  7. Xiamen Equation Chemical Co. Ltd.
  8. Lori Industry Co. Ltd.
  9. Merck Schuchardt OHG
  10. Sigma-Aldrich International GmbH 

Recent Developments

  • In 2022, Tata Steel acquired Neelachal Ispat Nigam Ltd., and this acquisition will give TSL access to NINL's 1.1 million tones per annum of long-steel producing capacity and 100 million tones of iron ore reserves.
  • In 2022, FMC India an agrochemical company launched Corprima, a new insecticide product for tomato and okra which will deliver better returns to farmers by having a longer duration of pest control.
  • In 2022, Novo Nordisk a Danish drug maker launched a new anti-diabetic medication in India called Oral Semaglutide which will be used for the treatment of type 2 diabetes.

Relevant Reports

Benzene and Methylebenzenes Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code – CMR 0816

Resins Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code – CMR 1053

Polymers Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code - 1201

For more Chemicals and Materials Market reports, please click here

1. Fluorobenzene Market - Market Overview
    1.1 Definitions and Scope
2. Fluorobenzene Market - Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Packaging
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Fluorobenzene Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Fluorobenzene Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Fluorobenzene Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Fluorobenzene Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Fluorobenzene Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Fluorobenzene Market – By Grade (Market Size - US$ Million/Billion)
    8.1 Technical Grade
    8.2 Industrial Grade
    8.3 Others
9. Fluorobenzene Market – By Packaging (Market Size – US$ Million/ Billion)
    9.1 Containers
    9.2 Drums
    9.3 Others
10. Fluorobenzene Market – By Application (Market Size - US$ Million/Billion)
    10.1 Insecticides & Pesticides
    10.2 Carbon Content Controller
    10.3 Reagent
        10.3.1 Plastic Reagent
        10.3.2 Resin Polymer Reagent
    10.4 Others
11. Fluorobenzene Market – By End-use Industry (Market Size - US$ Million/Billion)
    11.1 Agriculture
    11.2 Pharmaceutical
    11.3 Steel Industry
    11.4 Plastic
    11.5 Others
12. Fluorobenzene Market - By Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 the USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 the UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 the Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 the Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Fluorobenzene Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Fluorobenzene Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Fluorobenzene Market – Key Company List by Country Premium Premium 
16. Fluorobenzene Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
Connect with our experts to get customized reports that best suit your requirements. Our reports include global-level data, niche markets and competitive landscape.

LIST OF TABLES

1.Global Fluorobenzene Market, by Type Market 2019-2024 ($M)
2.Global Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Fluorobenzene Market, by Type Market 2019-2024 (Volume/Units)
4.Global Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Fluorobenzene Market, by Type Market 2019-2024 ($M)
6.North America Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Fluorobenzene Market, by Type Market 2019-2024 ($M)
8.South America Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Fluorobenzene Market, by Type Market 2019-2024 ($M)
10.Europe Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Fluorobenzene Market, by Type Market 2019-2024 ($M)
12.APAC Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Fluorobenzene Market, by Type Market 2019-2024 ($M)
14.MENA Fluorobenzene Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
2.Canada Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
10.UK Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
12.France Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
16.China Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
17.India Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Fluorobenzene Industry Market Revenue, 2019-2024 ($M)
21.North America Global Fluorobenzene Industry By Application
22.South America Global Fluorobenzene Industry By Application
23.Europe Global Fluorobenzene Industry By Application
24.APAC Global Fluorobenzene Industry By Application
25.MENA Global Fluorobenzene Industry By Application